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 Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On March 14, 2017, the Board of Directors (the “Board”) of RTI Surgical, Inc. (the “Company”), increased the size of the Board to ten directors and appointed Mark D. Stolper to the Board. Mr. Stolper has not been appointed to any Board committees.

As set forth in the Company’s Current Report on Form 8-K filed on March 15, 2017, Mr. Stolper was appointed to the Board to a settlement agreement (the “Settlement Agreement”) entered into between the Company and an investor group led by Krensavage Partners, LP (collectively, “Krensavage”). Under the Settlement Agreement, the Company: (i) increased the size of the Board to ten directors; (ii) appointed Mr. Stolper, a Krensavage nominee, to the Board; and (iii) will nominate Mr. Stolper to be elected to the Board at the Company’s upcoming annual meeting of stockholders, currently scheduled for May 16, 2017, and at the Company’s annual meeting of stockholders to be held in 2018.

Consistent with the Company’s other directors, Mr. Stolper will receive an annual retainer of $40,000, paid in quarterly installments. The initial cash to be received by Mr. Stolper in 2017 will be pro-rated accordingly. As part of his annual Board compensation, Mr. Stolper also received 6,331 restricted stock awards.

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 00.00 at 3.70 with 151,927 shares trading hands.