LivaNova PLC Announces Board and Officer Changes

TL;DR

LivaNova's board and execs are changing, with new appointments and compensation details filed.

AI Summary

On September 10, 2024, LivaNova PLC filed an 8-K report detailing changes in its board of directors and executive officers. The filing includes information on the election of new directors and the appointment of certain officers, as well as details regarding compensatory arrangements for these key individuals.

Why It Matters

Changes in a company's board and executive team can signal shifts in strategy, governance, or operational focus, potentially impacting investor confidence and future performance.

Risk Assessment

Risk Level: low — This filing reports routine corporate governance changes and does not indicate any immediate financial distress or significant operational disruption.

Key Players & Entities

• LivaNova PLC (company) — Registrant
• England and Wales (jurisdiction) — State of Incorporation
• 20 Eastbourne Terrace London , W2 6LG United Kingdom (address) — Principal Executive Offices

FAQ

Filing Documents

• livn-20240910.htm (8-K) — 24KB
• livn-20240910_g1.jpg (GRAPHIC) — 7KB
• 0001639691-24-000117.txt ( ) — 168KB
• livn-20240910.xsd (EX-101.SCH) — 2KB
• livn-20240910_lab.xml (EX-101.LAB) — 22KB
• livn-20240910_pre.xml (EX-101.PRE) — 13KB
• livn-20240910_htm.xml (XML) — 3KB

From the Filing

livn-20240910 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): September 10, 2024 LivaNova PLC (Exact Name of Registrant as Specified in its Charter) England and Wales 001-37599 98-1268150 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.) 20 Eastbourne Terrace London , W2 6LG United Kingdom (Address of Principal Executive Offices) + 44 20 33250660 (Registrant's Telephone Number, Including Area Code) N/A (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below): Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name on each exchange on which registered Ordinary Shares - 1.00 par value per share LIVN NASDAQ Global Market Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers On September 10, 2024, LivaNova PLC (the "Company") announced that Trui Hebbelinck, the Company's Chief Human Resources Officer, will leave her position on September 30, 2024 and commence a period of garden leave. The Company has retained an external search firm to commence the search for a new Chief Human Resources Officer. Pursuant to her existing service agreement, Ms. Hebbelinck has a 12-month contractual notice period, and her employment will terminate on September 30, 2025 unless she elects to end her garden leave period early and receive a payment in lieu of notice. While on garden leave, Ms. Hebbelinck will receive her normal salary and benefits, as required by the terms of her previously disclosed service agreement, but will not qualify for any bonus for fiscal year 2025. Additionally, while on garden leave, all outstanding equity awards previously granted to Ms. Hebbelinck will continue to vest in accordance with their terms, and no further equity awards will be awarded to her. In connection with Ms. Hebbelinck's departure, on September 7, 2024, the Company and Ms. Hebbelinck entered into a Settlement Agreement (the "Agreement"). Pursuant to the terms of the Agreement, Ms. Hebbelinck will receive her annual bonus for fiscal year 2024, calculated as on-target, prorated up to and including September 30, 2024 and paid in October 2024, a severance payment of 232,000 to be paid after her termination date, outplacement counseling up to a maximum of 20,000 plus tax, professional tax assistance for the preparation and filing of her returns for the 2023/2024, 2024/2025 and, if applicable, 2025/2026 UK tax years, the payment of reasonable legal fees incurred in obtaining advice on the terms and effect of the Agreement up to a maximum of 25,000 plus tax and the release of Ms. Hebbelinck from certain of her post-termination restrictive covenants. 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. LivaNova PLC Date: September 10, 2024 By: /s/ Michael Hutchinson Name: Michael Hutchinson Title: SVP, Company Secretary & Chief Legal Officer

View Full Filing

View this 8-K filing on SEC EDGAR