NanoString Technologies, Inc. (NASDAQ:NSTG) 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.
directors of NanoString Technologies, Inc. (the Company) approved
2016 non-equity incentive plan compensation and 2017 base
salaries for each of the Companys named executive officers. For
additional information, please see the section captioned
Executive Compensation of the Companys Definitive Proxy Statement
on Schedule 14A filed with the Securities and Exchange Commission
on May 27, 2016.
|
Named Executive Officer
|
Title
|
2016 Non-Equity Plan Compensation
|
2017 Base Salary
|
|||||||
|
R. Bradley Gray
|
President and Chief Executive Officer
|
$
|
375,233
|
$
|
565,000
|
|||||
|
James A. Johnson
|
Chief Financial Officer
|
159,754
|
392,000
|
|||||||
|
David W. Ghesquiere
|
Senior Vice President, Corporate Business Development
|
149,850
|
375,000
|
|||||||
bonuses under the Companys 2017 non-equity incentive plan of up
to 85%, 50% and 50%, respectively, of their base salary. The 2017
performance goals for these officers are related to various
corporate objectives, including revenue and installed base
growth; initiation of additional diagnostic collaborations;
optimizing the commercial channel; expanding the 3D Biology
product suite; launching new products with a focus on markets
beyond oncology; advancing development of new applications, such
as Digital Spatial Profiling and Hyb Seq technology; achievement
of cash position goals and other financial targets; and
additional stretch targets. Mr. Grays bonus is based solely on
corporate goals. Bonuses for Messrs. Johnson and Ghesquiere are
based 75% on corporate goals and 25% on individual goals.
that the Company has initiated a search to recruit a new senior
vice president of sales and marketing. Barney E. Saunders, Ph.D.,
the Companys current senior vice president of sales and
marketing, will remain with the company until a successor is
named and will then assist with the transition for several months
thereafter.
About NanoString Technologies, Inc. (NASDAQ:NSTG)
NanoString Technologies, Inc. develops and manufactures intuitive products that unlock scientifically valuable and clinically actionable biologic information from minute amounts of tissue. The Company operates in the segment of development, manufacture and commercialization of instruments, consumables and services for profiling the activity of hundreds of genes and proteins simultaneously from a single tissue sample. Its nCounter Analysis System is an automated, multi-application, digital detection and counting system, which directly profiles hundreds of molecules simultaneously using a barcoding technology. It markets systems and related consumables to researchers in academic, government and biopharmaceutical laboratories for use in understanding fundamental biology, and to clinical laboratories and medical centers for diagnostic use. Its molecular diagnostic product Prosigna Breast Cancer Assay provides an assessment of a patient’s risk of recurrence for breast cancer. NanoString Technologies, Inc. (NASDAQ:NSTG) Recent Trading Information
NanoString Technologies, Inc. (NASDAQ:NSTG) closed its last trading session down -0.30 at 18.97 with 125,845 shares trading hands.
