Waters Corporation (NYSE:WAT) 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 |
(d) |
On June22, 2017, the board of directors (the Board) of Waters Corporation (the Company) elected Dr.Flemming Ornskov, Chief Executive Officer of Shire plc, as a director of the Company. Dr.Ornskov has not yet been named to a committee of the Board. |
Since April 2013, Dr.Ornskov has served as the Chief Executive
Officer, Chairman of the Executive Committee, and a member of the
Board of Directors of Shire plc.From 2010 to 2012, Dr.Ornskov was
Chief Marketing Officer and Global Head, Strategic Marketing for
General and Specialty Medicine at Bayer AG. Dr.Ornskov also held
key executive leadership positions at Bausch Lomb, Inc., Merck
Co., Inc. and Novartis AG.Dr. Ornskov received his Doctor of
Medicine (MD) from the University of Copenhagen, his Master of
Business Administration (MBA) from INSEAD, and his Master of
Public Health (MPH) from Harvard University.Before his business
career, Dr.Ornskov trained as an intern and resident in
pediatrics at the University Hospital of Copenhagen.
Dr.Ornskov will receive compensation for his service on the Board
under the Companys non-employee director compensation program as
follows:
| An annual retainer of $55,000; |
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An additional $1,500 per meeting for in person attendance at Board meetings; and |
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Annual stock awards with a grant date value of approximately $220,000, 50% to be granted in the form of restricted stock and 50% to be granted in the form of non-qualified stock options. |
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In addition, effective on the date of his election, Dr.Ornskov was granted a stock award with a grant date value of approximately $220,000, 50% to be granted in the form of restricted stock and 50% to be granted in the form of non-qualified stock options. Equity awards granted to non-employee directors have a one-year vesting term. |
There have been no transactions between Dr.Ornskov and the
Company that would be reportable under Item404(a) of Regulation
S-K.
About Waters Corporation (NYSE:WAT)
Waters Corporation is an analytical instrument manufacturer. The Company designs, manufactures, distributes and services instrument systems, columns and other chemistry consumables that are integrated and used along with other analytical instruments. The Company operates through two segments: Waters Division and TA Division. Its Waters Division’s products and services primarily consist of high performance liquid chromatography, ultra performance liquid chromatography, mass spectrometry and chemistry consumable products and related services. TA Division’s products and services primarily consist of thermal analysis, rheometry and calorimetry instrument systems and service sales. Its products are used by pharmaceutical, life science, biochemical, industrial, nutritional safety, environmental, academic and governmental customers working in research and development, quality assurance and other laboratory applications.