Streamline Health Solutions,Inc. (NASDAQ:STRM) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Streamline Health Solutions,Inc. (NASDAQ:STRM) 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.

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On August21, 2018, Streamline Health Solutions,Inc. (the “Company”) announced that the Board of Directors of the Company (the “Board”) appointed Thomas J. Gibson as the Company’s Senior Vice President and Chief Financial Officer, with such appointment to become effective as of September10, 2018 (the “Effective Date”).

Mr.Gibson, 55, served as Chief Financial Officer of Citra Health Solutions, a leading healthcare services and technology firm, from January2017 to August2018 and of Vivex Biomedical,Inc., a regenerative biologics company, from 2014 to 2016. Prior to his service with Vivex, Mr.Gibson served as Principal Accounting Officer, Senior Vice President of Finance and Corporate Controller at R1 RCM (previously Accretive Health,Inc.), a healthcare revenue cycle management company, in 2014. Mr.Gibson also served as Chief Accounting Officer of Greenway Medical Technologies, a provider of integrated information technology solutions and managed business services to healthcare providers, in 2013 and in various senior financial positions at MedAssets, a healthcare performance improvement company, from 2008 to 2013. Mr.Gibson spent the first 15 years of his professional career with Big 4 CPA firms working with both public and private companies.

There are no family relationships between Mr.Gibson and any director or executive officer of the Company and no related party transactions required to be reported under Item 404(a)of Regulation S-K.

In connection with his employment by the Company, on August17, 2018, the Compensation Committee of the Board approved the material terms of Mr.Gibson’s compensation arrangement, which are expected to be reflected in an employment agreement with Mr.Gibson to be entered into on or before the Effective Date (the “Employment Agreement”).

1. Compensation. Mr.Gibson will receive an annual base salary of $275,000 and will be eligible for an annual incentive bonus (at target equal to 40% of his annual base salary), based on individual and Company performance. Mr.Gibson will also be eligible to receive the standard employee benefits made available by the Company to its employees generally. The Employment Agreement is also expected to contain customary confidentiality provisions and non-competition covenants.

2. Initial Equity Awards. The Company intends to grant to Mr.Gibson on the Effective Date 100,000 restricted stock units (the “Initial RSUs”). The Initial RSUs are expected to be granted outside of the Company’s Amended and Restated 2013 Stock Incentive Plan (the “Equity Plan”) as inducement grants to the terms of a Restricted Stock Unit grant agreement. Additionally, the Company will grant Mr.Gibson, effective as of February1, 2019, an additional 50,000 RSUs (the “2019 RSUs” and, together with the Initial RSUs, the “Equity Awards”). The Equity Awards will vest in three substantially equal annual installments over the first three years of employment. The grants of the Equity Awards were approved by the Company’s Compensation Committee and were granted as an inducement material to Mr.Gibson entering into employment with the Company in accordance with Nasdaq Listing Rule5635(c)(4).

A copy of the press release announcing Mr.Gibson’s appointment is furnished as Exhibit99.1 and is incorporated by reference herein.

Item 9.01. Financial Statements and Exhibits.

(d)Exhibits

The following exhibits are filed herewith:

ExhibitNo.

Description

99.1

Press release dated August21, 2018


STREAMLINE HEALTH SOLUTIONS INC. Exhibit
EX-99.1 2 a18-21014_1ex99d1.htm EX-99.1 Exhibit 99.1   News Release   STREAMLINE HEALTH NAMES THOMAS J. GIBSON SENIOR VICE PRESIDENT,…
To view the full exhibit click here

About Streamline Health Solutions,Inc. (NASDAQ:STRM)

Streamline Health Solutions, Inc. is engaged in providing healthcare information technology through the licensing of its Electronic Health Information Management, Patient Financial, Coding and Clinical Documentation Improvement (CDI), and other Workflow software applications, and the use of such applications by software as a service. The Company also provides implementation and consulting services to complement its software solutions. The Company provides computer software-based solutions through its Looking Glass platform. The Company sells its solutions and services in North America to hospitals and health systems, including physician practices, through its direct sales force and its reseller partnerships. The Company’s software and services allow hospitals and integrated healthcare delivery systems in the United States and Canada to capture, store, manage, route, retrieve and process patient clinical, financial and other healthcare provider information.

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