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.
(e) Compensatory Arrangements of Certain Officers
2017 Salaries and Bonus Targets. On March14, 2017, the Compensation Committee of the Board of Directors (the “Compensation Committee”) of RTI Surgical, Inc. (the “Company”) approved 2017 salaries and bonus targets (expressed as a percentage of salary) for each of the Company’s executive officers. The Company disclosed the salaries and bonus targets for certain executive officers in its Current Report on Form 8-K, filed March20, 2017 (the “March 20 8-K”), and indicated that an amendment would be filed once the Compensation Committee determined the performance criteria.
On May3, 2017, the Compensation Committee completed a bonus plan for the 2017 calendar year (the “2017 Bonus Plan”) by determining the performance criteria. The Company disclosed the 2017 Bonus Plan and performance criteria in its Current Report on Form 8-K, filed June8, 2017 (the “June 8 8-K”). The June8 8-K incorrectly listed “operating income as a percentage of total revenues” as one of the performance criteria, rather than “operating income” which is correct. Otherwise, the disclosures in the March20 8-K and the June8 8-K remain correct.
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.