QUINTILES IMS HOLDINGS, INC. (NYSE:Q) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item5.02
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Departure of Directors or Certain Officers;Election of Directors;Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Appointment of W. Richard Staub, III as President of Research
Development Solutions Business Unit
On November 29, 2016, Quintiles IMS Holdings, Inc. (the Company)
appointed W. Richard Staub, III to serve as president of its
Research Development Solutions business unit, effective December
1, 2016. Mr. Staub, age 54, brings more than three decades of
relevant industry experience to his new role. Mr. Staub has been
president of Novella Clinical, a Quintiles company, since 2013,
is a leader of QuintilesIMSs Global Functional Resourcing
business and a member of the Research Development Solutions
Executive Committee. Prior to Novellas 2013 acquisition by
Quintiles, Mr. Staub served as both president and CEO of Novella
Clinical since 2008. Before joining Novella Clinical in 2004, Mr.
Staub was senior vice president of global business development
for one of the worlds largest clinical research organizations.
Mr. Staubs career in the pharmaceutical industry began at Zeneca
Pharmaceuticals in 1989 where he had progressive responsibilities
as a medical and hospital sales representative, cardiovascular
portfolio analyst and marketing manager. Mr. Staub has a Bachelor
of Arts degree in Economics from the University of North Carolina
at Chapel Hill. This management transition, which had always been
anticipated and is part of a planned succession, has been
accelerated by rapid implementation of the Companys strategic and
operational changes.
Retirement of Mr. Pike as President, Research Development
Solutions Business Unit
On November 29, 2016, Thomas H. Pike, Vice Chairman, President,
Research Development Solutions business unit, and a member of the
Board of Directors (the Board) of Quintiles IMS Holdings, Inc.
(the Company), informed the Company of his retirement as an
officer, employee and member of the Board.While his retirement as
a member of the Board is effective immediately, he will remain as
an officer and employee until December 2, 2016.Mr. Pikes
retirement was a personal decision and was not due to any
disagreement with the Company on any matter relating to the
Companys operations, policies or practices.
On November 29, 2016, Mr. Pike entered into a Second Amendment to
Executive Employment Agreement dated April 12, 2012 (the Second
Amendment), as amended by the First Amendment to Executive
Employment Agreement, dated as of May 3, 2016 (together, the
Employment Agreement) with the Company and Quintiles, Inc., a
wholly owned subsidiary of the Company.
In connection with Mr. Pikes retirement, Mr. Pike is entitled to
receive the following: (a) an amount equal to two times the sum
of (i) his base salary in effect on December 2, 2016, plus (ii)
his 2016 target annual cash bonus; (b) the projected cost of the
continuation of group health insurance coverage for Mr. Pike and
his eligible dependents to COBRA if Mr. Pike is enrolled in group
health insurance coverage offered by the Company; and (c) a $1
million cash payment. In addition, Mr. Pikes 60,524 unvested
restricted stock units shall immediately vest; however, the
86,356 unvested shares of restricted stock that was awarded to
Mr. Pike on September 30, 2016 in connection with the closing of
the merger between Quintiles Transnational Holdings Inc. and IMS
Health Holdings, Inc. shall be forfeited upon Mr. Pikes
retirement.
Under the terms of the Employment Agreement, Mr. Pike is subject
to noncompetition and nonsolicitation covenants for a period of
36 months following the termination of his employment. Mr. Pike
has also agreed that for six months following his employment, he
will only sell shares of the Companys stock in compliance with
Rule 144 of the Securities Act of 1933, as applicable, or elect
to establish a trading plan in accordance with Rule 10b5-1 of the
Securities Exchange Act of 1934.
The foregoing description of the Second Amendment is qualified in
its entirety by reference to the Second Amendment and is filed as
Exhibit 10.1 hereto, and is incorporated herein by reference.
| Item7.01 | Regulation FD Disclosure. |
On November 30, 2016, the Company issued a press release
announcing Mr. Staubs appointment and Mr. Pikes retirement which
is attached hereto as Exhibit 99.1.
| Item9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
See the Exhibit Index attached hereto.
About QUINTILES IMS HOLDINGS, INC. (NYSE:Q)
Quintiles IMS Holdings Inc, formerly Quintiles Transnational Holdings Inc., is a provider of biopharmaceutical development services and commercial outsourcing services. It is engaged in the development and commercialization of pharmaceutical therapies. Its segments include Product Development and Integrated Healthcare Services. Its Product Development segment is a contract research organization and is focused on Phase II-IV clinical trials and associated laboratory and analytical activities. The Integrated Healthcare Services segment includes commercial pharmaceutical sales and service organizations, and provides services, including commercial services, such as contract pharmaceutical sales forces, and healthcare business services for the healthcare sector, such as phase research, market access and consulting, health information analytics and technology consulting, and other healthcare solutions. QUINTILES IMS HOLDINGS, INC. (NYSE:Q) Recent Trading Information
QUINTILES IMS HOLDINGS, INC. (NYSE:Q) closed its last trading session up +1.11 at 80.93 with 1,737,841 shares trading hands.
