MIMEDX GROUP, INC. (NASDAQ:MDXG) 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. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On March 19, 2020, MiMedx Group, Inc. (the “Company”) announced that its Board of Directors appointed Peter M. Carlson as Chief Financial Officer of the Company, effective March 18, 2020. He succeeds Edward J. Borkowski who served as Executive Vice President and Interim Chief Financial Officer from June 6, 2018 through November 15, 2019 and as acting Chief Financial Officer from November 18, 2019 through March 17, 2020.
Mr. Carlson, age 55, has served as the Company’s Executive Vice President – Finance since December 16, 2019. Prior to joining the Company, from 2017 to 2018, Mr. Carlson served as Chief Operating Officer at Brighthouse Financial, Inc., one of the largest life and annuity insurance companies in the U.S., that he helped establish as a separate entity following its August 2017 spin-off from MetLife, Inc. He was the Chief Accounting Officer at MetLife, Inc. from 2009 to 2017 where his global responsibilities included accounting, financial planning, tax, and investment finance. Prior to joining MetLife in 2009, Mr. Carlson was the Corporate Controller at Wachovia Corporation. He currently serves as a director of White Mountains Insurance Company (NYSE: WTM). Mr. Carlson holds a Bachelor of Science from Wake Forest University and is a trustee of the university. He is licensed as a certified public accountant in North Carolina and New York.
Mr. Carlson will receive an annual base salary of $525,000 and will be eligible for a target annual incentive of fifty-five percent (55%) of his base salary and a target long-term incentive equal to two-hundred percent (200%) of his base salary. In addition, he received (i) a special one-time signing bonus of $50,000 (which is subject to repayment in full in the event that he resigns or has his employment terminated by the Company within 12 months following the commencement of his employment with the Company), (ii) a restricted stock grant with a value of $350,000 which vests pro rata annually over three years, and (iii) a restricted stock grant with a value of $1,000,000, which vests upon the achievement of each of four discrete performance goals.
There are no arrangements or understandings between Mr. Carlson and any other persons to which he was selected as Executive Vice President and Chief Financial Officer. There are also no family relationships between Mr. Carlson and any director or executive officer of the Company, and he has no direct or indirect material interest in any transaction required to be disclosed to Item 404(a) of Regulation S-K.
A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01 Exhibits
99.1 Press release dated March 19, 2020.
MIMEDX GROUP, INC. Exhibit
EX-99.1 2 a8kex991pressreleasenew319.htm EXHIBIT 99.1 Exhibit Exhibit 99.1MiMedx Names Peter M. Carlson as Chief Financial OfficerMarietta,…
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About MIMEDX GROUP, INC. (NASDAQ:MDXG)
MiMedx Group, Inc. (MiMedx) is an integrated developer, processor and marketer of regenerative biomaterial products and bioimplants processed from human amniotic membrane and other birth tissues and human skin and bone. The Company operates in the Regenerative Biomaterials business segment, which includes the development, processing and marketing of regenerative biomaterial products and bioimplants processed from human amniotic membrane and other birth tissues in the wound care, surgical, sports medicine, ophthalmic and dental market categories. Its biomaterial platform technologies are AmnioFix, EpiFix, OrthoFlo, Physio, AlloBurn, and CollaFix. AmnioFix and EpiFix are its tissue technologies processed from human amniotic membrane derived from donated placentas. The Company processes the human amniotic membrane utilizing its PURION Process, to produce an implant. MiMedx is the supplier of amniotic tissue, having supplied over 500,000 allografts.
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