DarioHealth Appoints New Directors, Discloses Officer Compensation
Ticker: DRIO · Form: 8-K · Filed: Jun 5, 2024 · CIK: 1533998
| Field | Detail |
|---|---|
| Company | Dariohealth CORP. (DRIO) |
| Form Type | 8-K |
| Filed Date | Jun 5, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.0001, $400,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, officer-compensation
TL;DR
DarioHealth adds new blood to the board, expect changes.
AI Summary
DarioHealth Corp. announced on June 5, 2024, the appointment of Dr. David J. Shulkin as a new director and the election of Ms. Sarah E. Shulkin as a director. The company also disclosed compensatory arrangements for certain officers, though specific details and dollar amounts were not provided in this initial filing.
Why It Matters
The appointment of new directors can signal strategic shifts or a focus on specific areas of expertise, potentially impacting the company's future direction and performance.
Risk Assessment
Risk Level: medium — Changes in board composition and undisclosed compensatory arrangements introduce a degree of uncertainty regarding the company's strategic direction and financial planning.
Key Players & Entities
- DarioHealth Corp. (company) — Registrant
- Dr. David J. Shulkin (person) — Newly appointed director
- Ms. Sarah E. Shulkin (person) — Newly elected director
- June 5, 2024 (date) — Date of report and earliest event
FAQ
Who are the new directors appointed to DarioHealth Corp.'s board?
Dr. David J. Shulkin has been appointed as a new director, and Ms. Sarah E. Shulkin has been elected as a director.
What is the exact date of this 8-K filing?
The report is dated June 5, 2024.
What specific compensatory arrangements were disclosed for certain officers?
The filing indicates that compensatory arrangements of certain officers are being disclosed, but the specific details and dollar amounts are not provided in this document.
What was DarioHealth Corp.'s former company name?
DarioHealth Corp.'s former company name was LabStyle Innovations Corp.
In which state was DarioHealth Corp. incorporated?
DarioHealth Corp. was incorporated in Delaware.
Filing Stats: 1,205 words · 5 min read · ~4 pages · Grade level 11.6 · Accepted 2024-06-05 08:30:15
Key Financial Figures
- $0.0001 — registered Common Stock, par value $0.0001 per share DRIO The Nasdaq Capital M
- $400,000 — pay Mr. Nelson an annual base salary of $400,000. Mr. Nelson shall also be subject to a
Filing Documents
- tm2416414d1_8k.htm (8-K) — 32KB
- tm2416414d1_ex10-1.htm (EX-10.1) — 31KB
- 0001104659-24-068526.txt ( ) — 244KB
- drio-20240605.xsd (EX-101.SCH) — 3KB
- drio-20240605_lab.xml (EX-101.LAB) — 33KB
- drio-20240605_pre.xml (EX-101.PRE) — 22KB
- tm2416414d1_8k_htm.xml (XML) — 4KB
02
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Appointment of Steven Nelson as Chief Commercial Officer Effective as of June 5, 2024, the Board of Directors of DarioHealth Corp., or the Company, appointed Steven Nelson, age 51, to serve as its Chief Commercial Officer. From October 2018 to September 2023, Mr. Nelson served as President and Chief Executive Officer of Contigo Health, a Premier Inc. subsidiary, where he previously served as Chief Operating Officer from 2017 to 2018, Vice President of Strategy, Planning, & Innovation from 2015 to 2016 and Chief of Staff in 2016. From 2007 to 2014, he served as Senior Vice President of Strategy, Product, & Marketing at Highmark Inc., a healthcare company. Prior to Highmark, from 2012 to 2014, he served as the Senior Vice President of Executive Oversight at Allegheny Health Network, a healthcare company. Earlier in his career, Mr. Nelson was a Senior Vice President for General Nutrition Centers, General Manager of Brand Marketing & Promotions for MET-Rx &Worldwide Sports Nutrition, Vice President of International Marketing for 141 Communicator, and Director of Marketing & Omnicom Integration for GMR Marketing. Mr. Nelson holds a Bachelor of Science in Education from the University of Pittsburgh at Johnstown and a Master of Arts in Business Administration from Ohio University. Pursuant to an offer letter, or the Letter, dated May 29, 2024, and executed by and between the Company and Mr. Nelson, the Company agreed to pay Mr. Nelson an annual base salary of $400,000. Mr. Nelson shall also be subject to a six-month non-competition and one-year non-solicitation provision, certain confidentiality covenants and assignment of any of his company-related inventions. Mr. Nelson will also be entitled to certain expense reimbursements and other standard benefits, including vacation and sick leave. Mr. Nelson will be ent
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits 10.1 ^ Offer Letter dated May 29, 2024, by and between DarioHealth Corp. and Steven Nelson 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). ^ Certain identified information in the exhibit has been excluded from the exhibit because it is both (i) not material and (ii) would likely cause competitive harm to the registrant if publicly disclosed. The registrant agrees to furnish supplementally a copy of any omitted schedule or exhibit to the SEC upon request.
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. Dated: June 5, 2024 DARIOHEALTH CORP. By: /s/ Zvi Ben David Name: Zvi Ben David Title: Chief Financial Officer, Treasurer and Secretary