MICROBOT MEDICAL INC. (NASDAQ:MBOT) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01.
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Entry Into a Material Definitive Agreement.
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indemnification agreement is incorporated by reference into this
Item 1.01.
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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. |
Inc. (the Company), appointed Martin J. Madden to fill a vacancy
on the Board of Directors and to serve as a Class I director of
the Company, whose term expires at the Companys 2019 annual
meeting of stockholders. Mr. Madden is independent under NASDAQ
rules. Mr. Madden has not yet been appointed to any committees of
the Board of Directors of the Company.
and its affiliates from 1986 to January 2017, most recently as
Vice President, Research Development of DePuy Synthes, a Johnson
Johnson Company, from February 2016 to January 2017. Prior to
that, from July 2015 to February 2016, Mr. Madden was the Vice
President, New Product Development of Johnson Johnson Medical
Devices. From January 2012 to July 2015, Mr. Madden was the Vice
President, Research Development of Johnson Johnsons Global
Surgery Group. Mr. Madden holds a MBA from Columbia University, a
M.S. from Carnegie Mellon University in Mechanical Engineering,
and a B.S. from the University of Dayton in Mechanical
Engineering.
director due to his extensive experience in research and
development, portfolio planning, technology assessment and
assimilation, and project management and budgeting.
agreement (the Agreement) with Mr. Madden, to which the Company
has agreed to indemnify and hold harmless Mr. Madden to the
fullest extent permitted by the Delaware General Corporation Law.
The Agreement generally covers expenses that Mr. Madden incurs or
amounts that Mr. Madden becomes obligated to pay because of any
proceeding to which he is made or threatened to be made a party
or participant by reason of his service as a director of the
Company, provided that he acted in good faith and in a manner he
reasonably believed to be in or not opposed to the best interests
of the Company. The Agreement also provides for the advancement
of expenses to Mr. Madden subject to specified conditions. There
are certain exceptions to the Companys obligation to indemnify
Mr. Madden with respect to proceedings that he initiates.
subject to and qualified in its entirety by reference to the form
of Agreement, a copy of which is attached as Exhibit 10.4 to the
Form 8-K of the Company filed with the Securities and Exchange
Commission on November 29, 2016, and is incorporated herein by
reference.
announcing the appointment of Mr. Madden. A copy of the press
release is attached as Exhibit 99.1 to this Current Report on
Form 8-K and incorporated herein by reference.
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Item 9.01
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Financial Statements and Exhibits
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Exhibit
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Description
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99.1
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Press Release
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About MICROBOT MEDICAL INC. (NASDAQ:MBOT)
Microbot Medical Inc., formerly StemCells, Inc., is a medical device company. The Company specializes in the researching, designing, developing and commercializing transformational micro-robotic medical technologies leveraging the artificial and natural lumens within the human body. It is engaged in developing its two product candidates: the Self Cleaning Shunt (SCS) for the treatment of hydrocephalus and normal pressure hydrocephalus (NPH), and TipCAT, a self-propelling, semi-disposable endoscope that the Company is developing for use in colonoscopy procedures. Its ViRob technology is an autonomous crawling micro-robot, which can be controlled remotely or within the body. The Microbot SCS device is a robotic system designed as the ventricular catheter portion of a cerebrospinal fluid (CSF) shunt system. The Company’s TipCAT is an endoscope that provides see and treat capabilities within tubular lumens in the human body, such as the colon, blood vessels and the urinary tract. MICROBOT MEDICAL INC. (NASDAQ:MBOT) Recent Trading Information
MICROBOT MEDICAL INC. (NASDAQ:MBOT) closed its last trading session down -0.10 at 4.43 with 18,146 shares trading hands.