RTI SURGICAL, INC (NASDAQ:RTIX) 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 January 18, 2017, RTI Surgical, Inc. (the “Company”) and Ms. Caroline A. Hartill, the Company’s current Executive Vice President and Chief Scientific Officer, agreed to Ms. Hartill’s separation from the Company. Ms. Hartill’s separation date is expected to be January 31, 2017. The Company intends to eliminate this position of Chief Scientific Officer after Ms. Hartill’s departure.
The Company and Ms. Hartill are currently negotiating a Consulting Agreement, under which Ms. Hartill would provide certain post-departure services, along with certain other related documents. If and when the Consulting Agreement and related documents are finalized and executed, the Company will file an amendment to this Current Report on Form 8-K and disclose such documents accordingly.
In addition, Ms. Hartill will receive certain payments and benefits to the Executive Transition Agreement dated August 29, 2012. The Executive Transition Agreement was filed as Exhibit 10.1 to the Company’s Current Report on Form 8-K, filed on September 4, 2012. The Executive Transition Agreement was then subsequently extended under extension letters dated August 28, 2015 (filed as Exhibit 10.4 to the Company’s Current Report on Form 8-K, filed on August 31, 2015) and December 3, 2015 (filed as Exhibit 10.4 to the Company’s Current Report on Form 8-K, filed on December 4, 2015).
About RTI SURGICAL, INC (NASDAQ:RTIX)
RTI Surgical, Inc. is engaged in producing orthopedic and other surgical implants that repair and promote the natural healing of human bone and other human tissues. The Company uses natural tissues, metals and synthetics process to produce its products. The Company’s business primarily consists of six categories, such as spine, sports medicine, ortho fixation, bone graft substitutes and general orthopedic (BGS and general orthopedic), dental and surgical specialties. It processes donated human musculoskeletal and other tissue, including bone, cartilage, tendon, ligament, fascia lata, pericardium, sclera and dermal tissue, and bovine and porcine animal tissue in producing allograft and xenograft implants utilizing BIOCLEANSE, TUTOPLAST and CANCELLE SP sterilization processes, and manufactures metal and synthetic implants for distribution to hospitals and surgeons. The Company distributes its implants and services in approximately 50 states and in over 45 countries across the world. RTI SURGICAL, INC (NASDAQ:RTIX) Recent Trading Information
RTI SURGICAL, INC (NASDAQ:RTIX) closed its last trading session down -0.05 at 3.10 with 138,874 shares trading hands.