MANNATECH, INCORPORATED (NASDAQ:MTEX) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On and effective as of December 7, 2016, Mannatech, Incorporated
(the Company) elected Kevin Robins (Mr. Robbins) as a
non-employee Class I board member to fill the vacancy on the
Board of Directors created by the resignation of Marlin Ray
Robbins as disclosed in the Companys Form 8-K, filed by the
Company with the Securities and Exchange Commission on November
16, 2016. Mr. Robbins is an active associate with 22 years of
field experience and will remain active in field sales
activities.
There is no arrangement or understanding between Mr. Robbins and
any other person to which he was selected as a director. Mr.
Robbins is the son of Marlin Ray Robbins, and the information
regarding transactions in which Mr. Robbins has an interest that
is required to be disclosed under Item 404(a) of Regulation S-K
are disclosed in the Companys definitive proxy statement on
Schedule 14A, filed by the Company with the Securities and
Exchange Commission on April 20, 2016 (the Proxy Statement). Mr.
Robbins will serve on the Science committee of the Board of
Directors.
In Connection with his appointment to the Board, Mr. Robbins
received an equity grant of 5,000 stock options. The stock
options are priced on the date of grant and are subject to a
three year vesting period. Mr. Robbins will also receive the
compensation offered to all of the Companys non-employee
directors for services on the Board and its committees, as
disclosed in the Proxy Statement.
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Item 9.01 |
Financial Statements and Exhibits |
A Copy of the Companys press release announcing the appointment
of Mr. Robbins is attached as Exhibit 99.1 to this Current Report
on Form 8-K. It is also incorporated herein by reference into
Item 5.02.
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Exhibit
Number
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Description
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99.1 |
Press Release, dated December 8, 2016. |
About MANNATECH, INCORPORATED (NASDAQ:MTEX)
Mannatech, Incorporated is a wellness solution provider. The Company develops and sells nutritional supplements, topical and skin care and anti-aging products, and weight-management products. The Company operates through the segment of sale of nutritional supplements, skin care and anti-aging products, and weight management and fitness products through network marketing distribution channels in approximately 20 countries. Its Health category includes a range of daily nutritional supplements, health solutions for children and additional nutrients designed to help keep specific body systems at optimal levels. Its Weight and Fitness category offers products designed to curb appetite and burn fat, build lean muscle tissue, and support recovery from overexertion. Its Skin Care and Anti-Aging category offers products formulated with approximately 30 botanical ingredients. It sells products in three regions: North America/South America, Europe/the Middle East/Africa (EMEA) and Asia/Pacific. MANNATECH, INCORPORATED (NASDAQ:MTEX) Recent Trading Information
MANNATECH, INCORPORATED (NASDAQ:MTEX) closed its last trading session down -0.37 at 17.83 with 3,341 shares trading hands.
