NEVRO CORP. (NYSE:NVRO) 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 |
On November 16, 2016, the Compensation Committee (the Committee)
of the Board of Directors (the Board) of Nevro Corp. (the
Company) approved the annual base salaries (effective January 1,
2017) and target annual performance bonuses for 2017 and equity
compensation awards for Andrew Galligan, the Companys Chief
Financial Officer, and Doug Alleavitch, the Companys Vice
President, Quality. In addition, on November 16, 2016, the Board
approved, on recommendation of the Committee, the annual base
salary (effective January 1, 2017) and target annual performance
bonus for 2017 and equity compensation award to the Companys
Chief Executive Officer.
The following table sets forth the annual base salaries and
target annual performance bonuses for each of the Companys named
executive officers:
|
Name and Title |
Annual Base Salary |
Target Annual Performance Bonus Percentage |
||
|
Rami Elghandour |
$680,000 |
50% |
||
|
President and Chief Executive Officer |
||||
|
Andrew Galligan |
$430,000 |
65% |
||
|
Chief Financial Officer |
||||
|
Doug Alleavitch |
$315,000 |
50% |
||
|
Vice President, Quality |
||||
The equity awards to each of the named executive officers will
include an option to purchase the Companys common stock and award
of restricted stock units and will be made to the Companys 2014
Equity Incentive Award Plan and be reported on a Form 4 Statement
of Change in Beneficial Ownership of Securities to Section 16 of
the Securities and Exchange Act of 1934, as amended, within two
(2) business days of the applicable grant date. The exercise
price per share of the option grants will be the closing trading
price of the Companys common stock on the date of grant.
About NEVRO CORP. (NYSE:NVRO)
Nevro Corp. is a medical device company. The Company has developed and commercialized a neuromodulation platform for the treatment of chronic pain. The Company’s Senza system is a spinal cord stimulation (SCS) system that delivers its HF10 therapy. HF10 therapy is designed to deliver neuromodulation solutions for treating chronic pain. HF10 therapy offers back pain relief in addition to leg pain relief. HF10 therapy also provides pain relief without paresthesia. HF10 therapy offers benefits to patients, physicians and hospitals. The Company’s Senza is designed to create electrical impulses from 2 hertz to 10 kilohertz (kHz), including its HF10 therapy. HF10 therapy delivers waveforms at 10 kHz pulse rate with a statistically driven and clinically verified programming algorithm. Senza consists of leads, a trial stimulator, an implantable pulse generator (IPG), surgical tools, a clinician laptop programmer, a patient remote control and a mobile charger. NEVRO CORP. (NYSE:NVRO) Recent Trading Information
NEVRO CORP. (NYSE:NVRO) closed its last trading session down -0.39 at 86.53 with 434,932 shares trading hands.
