CVRx Updates Officer Compensation, Board Changes Possible

TL;DR

**CVRx is shaking up executive pay and possibly its board, watch for strategic shifts.**

AI Summary

CVRx, Inc. filed an 8-K on January 31, 2024, reporting events from January 26, 2024, concerning changes in compensatory arrangements for certain officers and potentially the departure or election of directors. This filing indicates CVRx is updating its executive compensation structure, which could impact the company's financial health and executive retention. Investors should note these changes as they reflect the company's governance and how it incentivizes its leadership, potentially affecting long-term performance and shareholder value.

Why It Matters

Changes in executive compensation and board composition can signal shifts in company strategy, financial health, or leadership stability, directly influencing investor confidence and stock valuation.

Risk Assessment

Risk Level: medium — Changes in executive compensation and board structure can introduce both opportunities and risks, depending on the specifics, which are not fully detailed in this summary filing.

Analyst Insight

Investors should monitor CVRx, Inc.'s subsequent filings and announcements for specific details on the executive compensation changes and any board appointments or departures, as these specifics will determine the actual impact on the company's governance and financial outlook.

Key Players & Entities

• CVRx, Inc. (company) — the registrant filing the 8-K
• January 26, 2024 (date) — date of earliest event reported
• January 31, 2024 (date) — date the 8-K was filed
• 001-40545 (dollar_amount) — Commission File Number for CVRx, Inc.

Forward-Looking Statements

• CVRx, Inc. will provide more detailed information regarding the specific changes to compensatory arrangements and any board member changes in future filings or press releases. (CVRx, Inc.) — medium confidence, target: 2024-03-31

FAQ

Key Financial Figures

• $0.01 — ich registered Common stock, par value $0.01 per share CVRX The Nasdaq Global S
• $640,000 — or Mr. Hykes: (i) annual base salary of $640,000, (ii) target annual cash incentive of 7
• $150,000 — yment, and (iv) a cash sign-on bonus of $150,000 that is subject to repayment if Mr. Hyk
• $550 — Yared will be paid a consulting fee of $550 per hour and will be eligible to receiv
• $119,437.50 — will be eligible to receive a bonus of $119,437.50 for 2024, which was determined by refer

Filing Documents

• tm244504d1_8k.htm (8-K) — 33KB
• tm244504d1_ex10-1.htm (EX-10.1) — 62KB
• tm244504d1_ex10-2.htm (EX-10.2) — 53KB
• tm244504d1_ex99-1.htm (EX-99.1) — 11KB
• 0001104659-24-008555.txt ( ) — 366KB
• cvrx-20240126.xsd (EX-101.SCH) — 3KB
• cvrx-20240126_lab.xml (EX-101.LAB) — 33KB
• cvrx-20240126_pre.xml (EX-101.PRE) — 22KB
• tm244504d1_8k_htm.xml (XML) — 4KB

02. Departure of Directors or Certain Officers; Election

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Appointment of President and CEO On January 31, 2024, CVRx, Inc. (the "Company") announced that its Board of Directors (the "Board") appointed Kevin Hykes as President and Chief Executive Officer ("CEO"), effective February 12, 2024. Mr. Hykes succeeds Nadim Yared, who previously announced his plans to retire upon the appointment of his successor. Mr. Hykes has served as a member of the Board since December 2022 and will remain on the Board. Mr. Yared will retire from the Board at the time of his retirement as CEO and will consult with the Company to ensure a seamless transition. A copy of the press release announcing Mr. Hykes' appointment is filed as Exhibit 99.1 hereto. Mr. Hykes, age 58, currently serves as the President and CEO of Augmedics, an augmented reality surgical navigation company, a position he has held since December 2021. He has also served as a Venture Advisor to Vensana Capital, a medtech-focused investment firm, since November 2019. Mr. Hykes previously served as the President and Chief Executive Officer of each of Bardy Diagnostics, Inc., a remote cardiac monitoring and individual health services company, from August 2020 until its acquisition in June 2021, and Relievant, Inc., a provider of interventional treatment for chronic low back pain, from 2017 to January 2020. He also served as Chairman and Chief Executive Officer of Metavention, a neuromodulation company, from 2013 to 2017, President and Chief Executive Officer of Cameron Health, Inc., a cardioverter-defibrillator medical device company from 2010 until its acquisition in 2013, and Chief Commercial Officer of Visiogen, Inc., a developer of products for cataract and refractive patients, from 2008 until its acquisition in 2010. Mr. Hykes served as an Operating Partner at Versant Ventures, a healthcare focused venture capital fir

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Employment Agreement between the Company and Kevin Hykes dated January 26, 2024 10.2 Transition and Consulting Agreement between the Company and Nadim Yared dated January 30, 2024 99.1 Press release of CVRx, Inc., dated January 31, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 3

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CVRx, Inc. Date: January 31, 2024 By: /s/ Jared Oasheim Name: Jared Oasheim Its: Chief Financial Officer 4

View Full Filing

View this 8-K filing on SEC EDGAR