STEREOTAXIS, INC. (OTCMKTS:STXS) 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 |
(b) On February26, 2017, Duane DeSisto resigned as a director of
the Company effective immediately. Mr.DeSisto had also served on
the Companys Audit Committee. There was no disagreement between
Mr.DeSisto and the Company, known to any of the Companys
executive officers, on any matter relating to the Companys
operations, policies or practices.
The Companys Board of Directors has not selected anyone to
replace Mr.DeSisto as a member of the Board of Directors or on
the Audit Committee as of this time. The Stereotaxis Board
currently consists of eight members, with one vacancy as a result
of Mr.DeSistos resignation.
| Item8.01. | Other Information |
In an effort to better align Stereotaxis Board of Directors with
shareholders, and to improve the Companys cash flow,on
February22, 2017 the Compensation Committee of the Companys Board
of Directors revised the Companysnon-employee director program
from providing a combination of cash and equity compensation to
providing solely equity compensation.The prior compensation
program historically provided each non-employee director with an
average of $46,000 in cash compensation annually in addition to
an annual award of 10,000 restricted stock units (RSUs) for
shares of common stock of the Company. Beginning in fiscal year
2017, non-employee directors will each receive an annual award of
60,000 RSUs, payable in two tranches of 30,000 each in January
and July, in arrears for service as a director (and pro-rated
according to length of time as a director), such that the first
award would be made in July 2017 for the prior six-month
period.All such RSU awards to non-employee directors will be
issued under the Stereotaxis, Inc. 2012 Stock Incentive Plan.A
more complete description of the new non-employee director
compensation arrangements will be included in the Companys proxy
statement for the Companys 2017 Annual Meeting of Stockholders.
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About STEREOTAXIS, INC. (OTCMKTS:STXS)
Stereotaxis, Inc. is a United States-based healthcare technology company. The Company is engaged in the development of robotic cardiology instrument navigation systems designed to enhance the treatment of arrhythmias and coronary disease. The Company also provides information management solutions for the interventional lab. The Stereotaxis platform helps physicians to provide patient care with robotic precision and enhanced integration of procedural information. The Company’s Epoch solution includes the Niobe ES remote magnetic navigation system, the Odyssey portfolio of lab optimization, networking and patient information management systems, and the Vdrive robotic navigation system and consumables. The Niobe ES remote magnetic navigation system includes the Navigant software user interface and the QuikCAS catheter advancement system. The Vdrive robotic navigation system with Niobe ES magnetic navigation system provides navigation and stability for diagnostic and ablation devices. STEREOTAXIS, INC. (OTCMKTS:STXS) Recent Trading Information
STEREOTAXIS, INC. (OTCMKTS:STXS) closed its last trading session up +0.015 at 0.615 with 929,117 shares trading hands.