Proto Labs, Inc. (NYSE:PRLB) 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.
(e) As previously announced, John B. Tumelty, the Vice President/General Manager and Managing Director – Europe, Middle East and Africa of Proto Labs, Inc. (the “Company”), intends to retire later this year. On August 2, 2017, in connection with Mr. Tumelty’s planned retirement, the Board of Directors (the “Board”) of the Company and the Compensation Committee (the “Committee”) of the Board authorized providing Mr.Tumelty with the opportunity to achieve 125% of his annual bonus target, prorated to his potential retirement date, in order to provide Mr. Tumelty with an additional incentive to reach the applicable goals set forth in the Company’s 2017 budget. For additional information about Mr. Tumelty’s incentive compensation, please refer to the Company’s definitive proxy statement on Schedule 14A filed with the Securities and Exchange Commission on April 4, 2017.
About Proto Labs, Inc. (NYSE:PRLB)
Proto Labs, Inc. is an online and technology-enabled manufacturer of on-demand three-dimensional (3D)-printed, computer numerical control (CNC) machined and injection-molded custom parts for prototyping and short-run production. It utilizes injection molding, CNC machining and 3D printing to manufacture custom parts for its customers. The Company targets its products to the product developers and engineers who use three-dimensional computer-aided design (3D CAD) software to design products across a range of end-markets. It has operations in the United States, Europe and Japan. The Company’s manufacturing product lines include injection molding (Protomold), CNC machining (Firstcut) and 3D printing (Fineline). The Company’s 3D Printing (Fineline) product line includes stereolithography (SL), selective laser sintering (SLS) and direct metal laser sintering (DMLS) processes, which offers customers a range of precision rapid prototyping and low volume production.
