Penumbra, Inc. (NYSE:PEN) 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
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Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Penumbra, Inc. (the “Company”) voted to elect Mr. Thomas C.
Wilder as an independent director of the Board effective January
13, 2017 . Mr. Wilder will fill a vacancy in the Class I
directors and his term will expire along with the other Class I
director at the Companys 2019 annual meeting of stockholders and
until his successor is duly elected and qualified. The Board has
also appointed Mr. Wilder to serve on the Audit, Executive and
Nominating and Corporate Governance Committees of the Board and
to chair the Compensation Committee of the Board.
director under the New York Stock Exchange listing standards and
the Company’s independence guidelines, as set forth in its
Corporate Governance Guidelines (available on the Company’s web
site at www.penumbrainc.com, under Investors Governance Corporate
Governance). The Board has also determined that Mr. Wilder meets
the Audit Committee additional requirements set forth under the
New York Stock Exchange listing standards and as set forth in the
Audit Committee Charter (available on the Company’s web site at
www.penumbrainc.com, under Investors Governance Corporate
Governance).
led Sequent Medical, Inc., a company dedicated to the development
of innovative catheter-based neurovascular technologies, as its
CEO for the past six years. Prior to joining Sequent, Mr. Wilder
served as the President and CEO of PhotoThera, Inc., a company
that was developing a unique therapy for acute ischemic stroke
patients. Prior to this, Mr. Wilder served as the President and
CEO of MicroTherapeutics, Inc. (MTIX), a company also focused on
the neurovascular space. In addition, Mr. Wilder served in
positions of increasing responsibility at Medtronic, Inc. from
1991 through 2002, most recently as Vice President and General
Manager of its endovascular stent grafts division. Mr. Wilder
began his career in the Financial Statement Audit Practice of
Price Waterhouse, where he worked from 1986 to 1989. Mr. Wilder
currently serves on the Board of Directors of Benvenue Medical,
Inc. and Endologix, Inc. (ELGX).
serving on the Board other than the standard fees paid by the
Company to all of its non-management directors as described in
the Companys definitive proxy statement for its 2016 annual
meeting of stockholders, filed with the Securities and Exchange
Commission on April 28, 2016.
and any other person to which he was selected as a director. The
Company is not aware of any transaction in which Mr. Wilder has
an interest requiring disclosure under Item 404(a) of Regulation
S-K.
decision to resign from the Board, effective January 13, 2017.
Mr. Wang also resigned from his positions on the Audit and
Executive Committees of the Board, and as chair of the
Compensation Committee. The decision by Mr. Wang was voluntary
and was not a result of any disagreement with the Company or the
Board.
announcing the matters discussed in this Current Report on Form
8-K. A copy of the release is furnished as Exhibit 99.1 to this
Current Report on Form 8-K.
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Item 9.01
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Financial Statements and Exhibits.
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99.1
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Press Release of Penumbra, Inc. dated December 19, 2016.
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About Penumbra, Inc. (NYSE:PEN)
Penumbra, Inc. (Penumbra) is an interventional therapies company. The Company designs, develops, manufactures and markets medical devices. The Company has a portfolio of products that addresses medical conditions and significant clinical needs across two markets, neuro and peripheral vascular. The conditions that its products address include ischemic stroke, hemorrhagic stroke and various peripheral vascular conditions that can be treated through thrombectomy and embolization procedures. The Company focuses on developing, manufacturing and marketing products for use by specialist physicians, including interventional neuroradiologists, neurosurgeons, interventional neurologists, interventional radiologists and vascular surgeons. Its neuro products include Neurovascular Access, Ischemic Stroke, Neurovascular Embolization and Neurosurgical Tools. The Company’s peripheral vascular products include Peripheral Embolization and Peripheral Thrombectomy. Penumbra, Inc. (NYSE:PEN) Recent Trading Information
Penumbra, Inc. (NYSE:PEN) closed its last trading session down -1.80 at 63.60 with 277,224 shares trading hands.
