Orthofix International N.V. (NASDAQ:OFIX) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On April 25, 2017, each of Guy J. Jordan, PhD, and Anthony F. Martin, PhD notified the Board of Directors (the “Board”) of Orthofix International N.V. (the “Company”) that he intends to retire from the Board effective as of the commencement of the Company’s 2017 annual general meeting of shareholders (the “2017 AGM”), which is scheduled to occur at 11:00 a.m. (Eastern Time) on June 13, 2017. The Board has accepted each of Dr. Jordan and Dr. Martin’s retirements effective as of the 2017 AGM, and expresses its gratitude to each of them for their years of service to the Company. The retirement of each of Dr. Jordan and Dr. Martin as a director is not related to any disagreement with the Company or the Board regarding any matter related to the Company’s operations, policies or practices.
On April 26, 2017, the Board nominated each of the other eight members of the Board (Luke Faulstick, James F. Hinrichs, Alexis V. Lukianov, Lilly Marks, Bradley R. Mason, Ronald A. Matricaria, Michael E. Paolucci and Maria Sainz) to stand for election at the 2017 AGM, in each case for a one-year term. Seven of the foregoing eight nominees are independent, outside directors under applicable Nasdaq rules. In accordance with the Company’s Articles of Association, the Board also reduced the size of the Board from ten seats to eight seats effective as of the commencement of the 2017 AGM.
As part of the Board’s normal committee rotation process, the Board also approved the following committee composition effective as of the commencement of the 2017 AGM. All members below are independent and satisfy applicable Nasdaq committee membership criteria.
Nominating and Governance Committee: Mr. Faulstick (Chair), Mr. Hinrichs, and Mr. Lukianov.
Audit and Finance Committee: Mr. Hinrichs (Chair), Mr. Faulstick, and Mr. Matricaria.
Compensation Committee: Mr. Paolucci (Chair), Mr. Lukianov, and Ms. Sainz.
Compliance Committee: Ms. Sainz (Chair), Ms. Marks, and Mr. Paolucci.
About Orthofix International N.V. (NASDAQ:OFIX)
Orthofix International N.V. (Orthofix) is a global medical device company. The Company is focused on providing reconstructive and regenerative orthopedic and spine solutions to physicians. The company operates in four segments: BioStim, Biologics, Extremity Fixation and Spine Fixation. Its BioStim solutions products include Cervical-Stim, Spinal-Stim and Physio-Stim. The Biologics products include AlloQuent Structural Allografts, Trinity ELITE, Trinity Evolution and VersaShield. The Extremity Fixation products include Fixator, Eight-Plate Guided Growth System and Contours VPS Volar Plating System III. The Spine Fixation products include Hallmark Anterior Cervical Plate System, Ascent LE Posterior Occipital Cervico-Thoracic (POCT) System, Firebird Deformity Correction System, Phoenix Minimally Invasive Spinal Fixation System, Samba-Screw System, LONESTAR Cervical Stand Alone (CSA), SKYHAWK Lateral Interbody Fusion System & Lateral Plate System and CENTURION POCT System. Orthofix International N.V. (NASDAQ:OFIX) Recent Trading Information
Orthofix International N.V. (NASDAQ:OFIX) closed its last trading session down -0.27 at 39.55 with 103,331 shares trading hands.
