SECOND SIGHT MEDICAL PRODUCTS, INC. (NASDAQ:EYES) 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 January 23, 2019, the Compensation Committee of the Board of Directors of Second Sight Medical Products, Inc. (the “Company”) after reviewing the Company’s targeted milestones and performance for the year ended December 31, 2018, approved bonuses for executive and non-executive staff including the following awards to the Company’s named executive officers:
|
Jonathan Will McGuire |
President and CEO |
$ | 183,913.29 |
|
John Blake |
Chief Financial Officer |
$ | 66,049.32 |
|
Pat Ryan |
Chief Operating Officer |
$ | 29,494.16 |
The awards are based on the Company’s overall performance in 2018 and the achievement of each executive’s assigned individual milestones, target bonus amount and respective hire dates.
SIGNATURES
About SECOND SIGHT MEDICAL PRODUCTS, INC. (NASDAQ:EYES)
Second Sight Medical Products, Inc. is engaged in developing, manufacturing and marketing prosthetic devices that restore vision to blind individuals. The Company’s product, the Argus II System, treats outer retinal degenerations, such as retinitis pigmentosa (RP). The Argus II System provides an artificial form of vision that differs from the vision of people with normal sight. It does not restore normal vision and it does not slow or reverse the progression of the disease. The Company’s Argus II System employs electrical stimulation to bypass degenerated photoreceptor cells and to stimulate remaining viable retinal cells thereby inducing visual perception in blind individuals. The Argus II System works by converting video images captured by a miniature camera housed in a patient’s glasses into a series of small electrical pulses that are transmitted wirelessly to an array of electrodes that are implanted on the surface of the retina.