TELEFLEX INCORPORATED (NYSE:TFX) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 20, 2018, the Board of Directors of Teleflex Incorporated (the "Company") approved a supplemental $1 million cash bonus award for Benson F. Smith, the Company's Chairman and former Chief Executive Officer. The award, which is in addition to Mr. Smith's bonus award in respect of the achievement of operational and individual performance metrics under the Company's 2017 annual incentive program, principally is intended to recognize the significant shareholder value created through the $4 billion growth in the Company's market capitalization in 2017 under Mr. Smith’s leadership. The award is also intended to recognize Mr. Smith's leadership in completing two key acquisitions in 2017 to position the Company for future growth.
On February 19, 2018, the Compensation Committee of the Board approved a supplemental $50,000 cash bonus award for James J. Leyden, Vice President, General Counsel and Secretary of the Company. The award, which is in addition to Mr. Leyden's bonus award in respect of the achievement of operational and individual performance metrics under the Company's 2017 annual incentive program, was intended to recognize Mr. Leyden's significant contributions in completing two key acquisitions in 2017.
About TELEFLEX INCORPORATED (NYSE:TFX)
Teleflex Incorporated is a provider of medical technology products. The Company designs, develops, manufactures and supplies single-use medical devices used by hospitals and healthcare providers for diagnostic and therapeutic procedures in critical care and surgical applications. The Company markets and sells its products to hospitals and healthcare providers, across the world, through a combination of its direct sales force and distributors. The Company operates through six segments: Vascular North America; Anesthesia North America; Surgical North America; Europe, the Middle East and Africa (EMEA); Asia, and Original Equipment Manufacturer (OEM). The Company manufactures its products at approximately 30 manufacturing sites, with manufacturing operations located in the Czech Republic, Germany, Malaysia, Mexico and the United States. The Company’s all others businesses include single-use respiratory, urology and cardiac care products, as well as capital equipment.
