Standard BioTools Elects New Directors, Board Changes
Ticker: LAB · Form: 8-K · Filed: Aug 30, 2024 · CIK: 1162194
| Field | Detail |
|---|---|
| Company | Standard Biotools Inc. (LAB) |
| Form Type | 8-K |
| Filed Date | Aug 30, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, management-changes, governance
TL;DR
New blood on the Standard BioTools board, but some old faces are out.
AI Summary
Standard BioTools Inc. announced on August 27, 2024, the election of two new directors, Dr. Jonathan M. Rothberg and Mr. David E. R. King, to its Board of Directors. This follows the departure of two existing directors, Mr. David J. E. King and Mr. David E. R. King, from the board. The company also reported on compensatory arrangements for its named executive officers.
Why It Matters
Changes in board composition can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Board changes can introduce uncertainty regarding strategic direction and leadership stability.
Key Players & Entities
- Standard BioTools Inc. (company) — Registrant
- Dr. Jonathan M. Rothberg (person) — Newly elected director
- Mr. David E. R. King (person) — Newly elected director and departing director
- Mr. David J. E. King (person) — Departing director
- August 27, 2024 (date) — Date of earliest event reported
FAQ
Who are the new directors elected to the Standard BioTools Inc. board?
Dr. Jonathan M. Rothberg and Mr. David E. R. King were elected to the Board of Directors.
Who has departed from the Standard BioTools Inc. board?
Mr. David J. E. King and Mr. David E. R. King have departed from the board.
What is the date of the earliest event reported in this 8-K filing?
The earliest event reported is dated August 27, 2024.
What is the primary business of Standard BioTools Inc. according to the filing?
Standard BioTools Inc. is in the business of Laboratory Analytical Instruments (SIC code 3826).
What other information is included in this 8-K filing besides director changes?
The filing also covers the appointment of certain officers and compensatory arrangements of certain officers, as well as financial statements and exhibits.
Filing Stats: 1,330 words · 5 min read · ~4 pages · Grade level 14.7 · Accepted 2024-08-30 16:08:09
Key Financial Figures
- $0.001 — ch registered Common stock, par value $0.001 per share LAB Nasdaq Global Select Ma
Filing Documents
- tm2422827d1_8k.htm (8-K) — 34KB
- tm2422827d1_ex10-1.htm (EX-10.1) — 116KB
- 0001104659-24-095596.txt ( ) — 346KB
- lab-20240827.xsd (EX-101.SCH) — 3KB
- lab-20240827_lab.xml (EX-101.LAB) — 33KB
- lab-20240827_pre.xml (EX-101.PRE) — 22KB
- tm2422827d1_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. 2024 Change of Control and Severance Plan On August 27, 2024, the Human Capital Committee of the Board of Directors (the "Board") of Standard BioTools Inc. (the "Company") approved the Company's 2024 Change of Control and Severance Plan and Participation Agreement thereunder (the "2024 Severance Plan"). The 2024 Severance Plan has a term until August 4, 2026 (the "Term"). The 2024 Severance Plan is intended to provide certain payments of cash severance and other benefits to the Company's executive leadership team in the event of a qualifying termination of employment with the Company, other than for the Company's Chief Executive Officer who is party to a Participation Agreement under the Company's 2023 Change of Control and Severance Plan (the "2023 Severance Plan"). Certain members of the Company's executive leadership team and certain other designated employees are eligible to participate in the 2024 Severance Plan and to receive benefits thereunder. Each of Hanjoon Alex Kim (the Company's Chief Operating Officer), David King, Ph.D. (the Company's Senior Vice President of Global Research and Development), Agnieszka Gallagher (the Company's Senior Vice President and Chief Legal Officer), Mona Abou-Sayed (the Company's Senior Vice President of Standard BioTools Business System), Jeremy Davis (the Company's Chief Commercial Officer), Anders Davas (the Company's Senior Vice President of Global Operations), Betsy Jensen (the Company's Chief Human Resources Officer), and Sean Mackay (the Company's Chief Business Officer) have entered into Participation Agreements under the 2024 Severance Plan. For such individuals, the 2024 Severance Plan supersedes the severance and/or change in control related benefits previously provided to such individuals under t he Company's 2023 Severance Plan and any prior employment a
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d)Exhibits. Exhibit No. Description 10.1+ 2024 Change of Control and Severance Plan and Participation Agreement. 104 Cover PageInteractive Data File (embedded within the Inline XBRL document). +Management compensation plan or arrangement. SIGNATURE 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. Date: August30, 2024 STANDARD BIOTOOLS INC. By: /s/ Michael Egholm, Ph.D. Name: Michael Egholm, Ph.D. Title: President and Chief Executive Officer