TEARLAB CORPORATION (NASDAQ:TEAR) 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 30, 2019, the Board of Directors (the “Board”) of TearLab Corporation (the “Company” or “TearLab”) approved annual base salaries and bonus targets for the Company’s Chief Executive Officer and Chief Financial Officer, each in the amounts set forth below:
| Name | Position | AnnualBase Salary
(Fiscal 2018) |
AnnualBase Salary
(Fiscal 2019)(1) |
2019 Target Bonus Opportunity (as a % of
Base Salary) |
|||
| Joseph S. Jensen | ChiefExecutive Officer | $ | 400,000 | $ | 440,000 | % | |
| Michael Marquez | Chief Financial Officer | $ | 190,000 | $ | 240,000 | % |
(1) Base salary increases are effective as of February 1, 2019.
About TEARLAB CORPORATION (NASDAQ:TEAR)
TearLab Corporation is an in-vitro diagnostic company. The Company has commercialized a tear testing platform, the TearLab Osmolarity System, which enables eye care practitioners to test for sensitive and specific biomarkers using nanoliters of tear film at the point-of-care. The Company, through its subsidiary TearLab Research, Inc., develops technologies to enable eye care practitioners to test a range of biomarkers (chemistries, metabolites, genes and proteins) at the point-of-care. Its product, the TearLab Osmolarity System, enables the measurement of tear osmolarity in the doctor’s office. The TearLab Osmolarity System consists of approximately three components: the TearLab disposable, the TearLab Pen, and the TearLab Reader. The TearLab disposable is a single-use microfluidic microchip. The TearLab Pen is a hand-held device that interfaces with the TearLab disposable. The TearLab Reader is a small desktop unit that allows for the docking of the TearLab Pen.