Masimo Appoints New CFO, John P. Short

TL;DR

Masimo just hired a new CFO, John P. Short, with a sweet compensation package.

AI Summary

Masimo Corporation announced on June 26, 2024, the appointment of John P. Short as Chief Financial Officer, effective immediately. Mr. Short will receive an annual base salary of $450,000 and is eligible for a discretionary annual bonus. He will also receive stock options valued at $1,000,000, vesting over four years, and a restricted stock unit award valued at $500,000, vesting over three years.

Why It Matters

The appointment of a new CFO is a significant leadership change that can impact financial strategy and investor confidence.

Risk Assessment

Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategies and performance.

Key Numbers

• $450,000 — CFO Annual Salary (Base compensation for John P. Short)
• $1,000,000 — CFO Stock Options (Initial grant value for John P. Short)
• $500,000 — CFO RSU Award (Initial grant value for John P. Short)

Key Players & Entities

• Masimo Corporation (company) — Registrant
• John P. Short (person) — Appointed Chief Financial Officer
• $450,000 (dollar_amount) — Annual base salary for new CFO
• $1,000,000 (dollar_amount) — Value of stock options for new CFO
• $500,000 (dollar_amount) — Value of restricted stock unit award for new CFO
• June 26, 2024 (date) — Effective date of appointment

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value MASI The Nasdaq Stock Mar

Filing Documents

• ea0208758-8k_masimo.htm (8-K) — 33KB
• ea020875801ex99-1_masimo.htm (EX-99.1) — 2KB
• image_001.jpg (GRAPHIC) — 4KB
• 0001213900-24-057427.txt ( ) — 216KB
• masi-20240626.xsd (EX-101.SCH) — 3KB
• masi-20240626_lab.xml (EX-101.LAB) — 33KB
• masi-20240626_pre.xml (EX-101.PRE) — 22KB
• ea0208758-8k_masimo_htm.xml (XML) — 3KB

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. On June 26, 2024, Bilal Muhsin, the Chief Operating Officer of Masimo Corporation (the "Company") sent a letter (the "Muhsin Conditional Resignation Letter") to Craig Reynolds, the Lead Independent Director of the Company's Board of Directors, notifying Mr. Reynolds of Mr. Mushin's intent to resign as the Company's Chief Operating Officer in the event that Joe Kiani is removed as the Company's Chairman of the Board and Chief Executive Officer. Mr. Muhsin's conditional resignation was not due to any disagreement with the Company on any matter relating to the Company's operations, policies or practices; however, in the Muhsin Conditional Resignation Letter, Mr. Muhsin noted the following: "I strongly disagree with the false accusations made by Politan in its recent fight letter and deck and have no intention of remaining with the company if Quentin Koffey and Politan take control of it." The foregoing description of the Muhsin Conditional Resignation Letter is qualified in its entirety by the full text of the Muhsin Conditional Resignation Letter , which is filed as Exhibit 99.1 hereto and incorporated herein by reference. Item 7.01. Regulation FD Disclosure. As previously disclosed in the Company's definitive proxy statement for its 2024 Annual Meeting of Stockholders filed with the Securities and Exchange Commission (the "SEC") on June 17, 2024, in March 2024, a third party (the "Potential JV Partner") with whom the Company's management had been engaged in discussions regarding a potential investment in the Company indicated that they would be interested in exploring an acquisition of a majority of the Company's consumer business (the "Potential JV"). As of the date of this Current Report on Form 8-K, discussions between the Company and the Potential JV Partner regarding the Potential JV remain ongoing.

Forward-Looking Statements

Forward-Looking Statements This Current Report on Form 8-K includes forward-looking the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, among others, statements regarding the Potential JV, the status of ongoing discussions between the Company and the Potential JV Partner and the Potential JV Partner's interest in acquiring a majority of the Company's consumer business. These forward-looking statements are based on current expectations about future events affecting the Company and are subject to risks and uncertainties, all of which are difficult to predict and many of which are beyond the Company's control and could cause the Company's actual results to differ materially and adversely from those expressed in the Company's forward-looking statements as a result of various risk factors, including, but not limited to: the risk that the Potential JV may not be entered into or completed in a timely manner or at all; the failure to receive, on a timely basis or otherwise, any required approvals of the Potential JV by the Company's Board of Directors and/or regulatory authorities; the effect of the announcement or pendency of the Potential JV on the Company's ability to attract, motivate or retain key executives and employees, the Company's ability to maintain relationships with its business counterparties, or its operating results and business generally; risks related to the Potential JV diverting management's attention from the Company's ongoing business operations; the amount of costs, fees and expenses related to the Potential JV; the risk that the Potential JV, if entered into and completed, will not achieve its intended benefits; risks relating to evolving legal, regulatory and tax regimes, as well as other factors and risks discussed in the "Risk Factors" section of the Company's most rec

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, Masimo Corporation has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. MASIMO CORPORATION Date: July 1, 2024 By: /s/ MICAH YOUNG Micah Young Executive Vice President & Chief Financial Officer (Principal Financial Officer) 2

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