ElectroCore Appoints New CMO, Elects Director
Ticker: ECOR · Form: 8-K · Filed: Sep 6, 2024 · CIK: 1560258
| Field | Detail |
|---|---|
| Company | Electrocore, Inc. (ECOR) |
| Form Type | 8-K |
| Filed Date | Sep 6, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.001, $415,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, board-election, filing
TL;DR
ElectroCore brings in a new CMO and adds a director to the board.
AI Summary
ElectroCore, Inc. announced on September 3, 2024, the appointment of Dr. Peter J. McKenna as Chief Medical Officer and the election of Ms. Karen L. King to its Board of Directors. The company also reported on matters submitted to a vote of security holders and filed financial statements and exhibits.
Why It Matters
These executive and board changes could signal a shift in the company's strategic direction or leadership focus, potentially impacting its future operations and market performance.
Risk Assessment
Risk Level: medium — Changes in key leadership and board composition can introduce uncertainty regarding future strategy and execution.
Key Players & Entities
- electroCore, Inc. (company) — Registrant
- Dr. Peter J. McKenna (person) — Appointed Chief Medical Officer
- Ms. Karen L. King (person) — Elected to Board of Directors
- September 3, 2024 (date) — Date of earliest event reported
FAQ
Who has been appointed as the new Chief Medical Officer for electroCore, Inc.?
Dr. Peter J. McKenna has been appointed as the Chief Medical Officer for electroCore, Inc.
Who has been elected to the Board of Directors at electroCore, Inc.?
Ms. Karen L. King has been elected to the Board of Directors at electroCore, Inc.
What is the reporting date for this Form 8-K filing?
The date of the report, and the date of the earliest event reported, is September 3, 2024.
What other items are reported in this 8-K filing besides executive and director changes?
This filing also reports on the submission of matters to a vote of security holders and the filing of financial statements and exhibits.
In which state is electroCore, Inc. incorporated?
electroCore, Inc. is incorporated in Delaware.
Filing Stats: 1,374 words · 5 min read · ~5 pages · Grade level 10.7 · Accepted 2024-09-06 17:05:25
Key Financial Figures
- $0.001 — ch registered Common Stock, Par Value $0.001 Per Share ECOR The NASDAQ Capital M
- $415,000 — e will receive an annual base salary of $415,000, subject to periodic review and adjustm
Filing Documents
- e663875_8k-electrocore.htm (8-K) — 40KB
- e663875_ex10-1.htm (EX-10.1) — 17KB
- e663875_ex10-2.htm (EX-10.2) — 22KB
- image_001.jpg (GRAPHIC) — 6KB
- image_001.gif (GRAPHIC) — 4KB
- 0001193805-24-001098.txt ( ) — 277KB
- ecor-20240903.xsd (EX-101.SCH) — 3KB
- ecor-20240903_lab.xml (EX-101.LAB) — 33KB
- ecor-20240903_pre.xml (EX-101.PRE) — 22KB
- e663875_8k-electrocore_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. Retirement of Brian M. Posner as Chief Financial Officer On September 3, 2024, the Chief Financial Officer of electroCore, Inc. (the "Company"), Brian M. Posner, informed the Board of Directors (the "Board") of the Company that he will be retiring effective as of October 4, 2024 for personal and family reasons. It is expected that Mr. Posner and the Company will enter into an agreement pursuant to which Mr. Posner will provide financial and accounting consulting services to the Company on an hourly basis for 12 months after the effective date of his retirement, subject to potential extension upon mutual agreement. Appointment of Joshua S. Lev as Chief Financial Officer On September 3, 2024, the Board appointed Joshua S. Lev, as Chief Financial Officer of the Company, effective as of Mr. Posner's retirement on October 4, 2024. Mr. Lev, age 40, has served as the Chief Strategy Officer of the Company since January 2022, previously having served as VP of Business Development, Strategy and Financial Planning since February 2020. Prior to joining the Company, Mr. Lev had over 15 years of experience in the financial services industry as an investment banker and investor focusing on emerging growth companies. From 2011 to February 2020, Mr. Lev served as Director of Business Development at Wellfleet Partners, Inc. focusing on capital raising, M&A, strategic transactions and institutional client relations. From March 2014 through February 2020, he was also a co-founder of Aracle Capital, LLC, an investment firm with a focus on early-stage and emerging-growth companies. Mr. Lev received an M.B.A. from the University of North Carolina's Kenan-Flagler Business School and a B.S. in Business & Management from the Sy Syms School of Business at Yeshiva University. In connection with his appointment as Chief Financial
07. Submission of Matters to a Vote of Security Holders
Item 5.07. Submission of Matters to a Vote of Security Holders. On September 3, 2024, the Company held its Annual Meeting (the "Meeting"). The total number of shares of common stock, par value $0.001 per share (the "Common Stock"), of the Company entitled to vote at the Meeting was 6,446,866 and there were present, in person or by proxy, 3,366,675 shares of Common Stock, which constituted a quorum for the Meeting. The matters voted upon and the results of the vote were as follows: Proposal 1: Election of two Class III Director to the Board of Directors for a three-year term of office expiring at the 2027 Annual Meeting of Stockholders. The following directors were elected to a three-year term of office expiring at the 2027 Annual Meeting of Stockholders: NOMINEE FOR (#) FOR (%) AGAINST (#) AGAINST (%) BROKER NON-VOTES John P. Gandolfo 1,822,264 96.05% 34,608 1.82% 1,469,414 Charles S. Theofilos, M.D 1,839,298 96.95% 28,998 1.53% 1,469,414 Proposal 2: Ratification of Appointment of Marcum LLP as Independent Registered Public Accounting Firm. A proposal to ratify the selection of Marcum LLP as the Company's independent registered public accounting firm for its fiscal year ending December 31, 2024, was adopted with the votes shown: FOR AGAINST ABSTAIN BROKER NON-VOTES 3,279,990 33,819 52,866 n/a Proposal 3: Approval, by non-binding advisory vote, of the resolution approving named executive officer compensation. The compensation of the Company's named executive officers was approved, by a non-binding advisory vote, as follows: FOR AGAINST ABSTAIN BROKER NON-VOTES 1,527,076 328,210 41,975 1,469,414 Proposal 4: Approval, by non-binding advisory vote, of the frequency of future non-binding advisory votes on resolutions approving future named executive officer compensation. 1 YEAR 2 YEARS 3 YEARS ABSTAIN BROKER NON-VOTES 1,499,911 85,159 286,527 25,664 1,469,414 In accor
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 10.1 Offer Letter by and between the Company and Joshua Lev, dated as of January 29, 2020. 10.2 Amendment to the Offer Letter by and between the Company and Joshua Lev, dated as of September 3, 2024.
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. September 6, 2024 electroCore, Inc. /s/ Brian M. Posner Brian M. Posner Chief Financial Officer