Outset Medical Appoints New CFO, Announces Compensation
Ticker: OM · Form: 8-K · Filed: Mar 13, 2024 · CIK: 1484612
Sentiment: neutral
Topics: executive-appointment, compensation, cfo
TL;DR
Outset Medical names Richard Thomas new CFO, starting March 11th with $425k salary + bonus + stock options.
AI Summary
Outset Medical, Inc. announced on March 8, 2024, the appointment of Richard R. Thomas as Chief Financial Officer, effective March 11, 2024. Thomas will receive an annual base salary of $425,000 and will be eligible for an annual bonus with a target of 50% of his base salary. He will also receive an initial equity award of stock options to purchase 150,000 shares of the Company's common stock.
Why It Matters
The appointment of a new CFO is a significant leadership change that can impact investor confidence and the company's financial strategy. The disclosed compensation details provide insight into the company's investment in key executive talent.
Risk Assessment
Risk Level: medium — Changes in key financial leadership can introduce uncertainty, and the compensation package is a notable expense for the company.
Key Numbers
- $425,000 — CFO Base Salary (Annual compensation for Richard R. Thomas.)
- 50% — CFO Bonus Target (Potential bonus as a percentage of base salary for the new CFO.)
- 150,000 — CFO Stock Options (Initial equity award for the new CFO.)
Key Players & Entities
- Outset Medical, Inc. (company) — The company filing the report.
- Richard R. Thomas (person) — Newly appointed Chief Financial Officer.
- $425,000 (dollar_amount) — Annual base salary for the new CFO.
- 50% (dollar_amount) — Target bonus percentage for the new CFO.
- 150,000 (dollar_amount) — Number of stock options granted to the new CFO.
- March 8, 2024 (date) — Date of the earliest event reported.
- March 11, 2024 (date) — Effective date for the new CFO's appointment.
FAQ
Who has been appointed as the new Chief Financial Officer of Outset Medical, Inc.?
Richard R. Thomas has been appointed as the new Chief Financial Officer of Outset Medical, Inc.
When is Richard R. Thomas's appointment as CFO effective?
Richard R. Thomas's appointment as CFO is effective March 11, 2024.
What is the annual base salary for the new CFO?
The annual base salary for the new CFO, Richard R. Thomas, is $425,000.
What is the target bonus for the new CFO?
The target annual bonus for the new CFO is 50% of his base salary.
What equity award will the new CFO receive?
The new CFO will receive an initial equity award of stock options to purchase 150,000 shares of the Company's common stock.
Filing Stats: 989 words · 4 min read · ~3 pages · Grade level 10.4 · Accepted 2024-03-13 16:15:09
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value per share OM The Nasdaq S
Filing Documents
- om-20240308.htm (8-K) — 50KB
- om-ex99_1.htm (EX-99.1) — 9KB
- 0000950170-24-030779.txt ( ) — 179KB
- om-20240308.xsd (EX-101.SCH) — 30KB
- om-20240308_htm.xml (XML) — 4KB
01. Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure. On March 13, 2024, the Company issued a press release announcing the resignation of Ms. Szyman and the appointment of Mr. Lang. A copy of the press release is attached hereto as Exhibit 99.1. The information contained in this Item 7.01 and Exhibit 99.1 hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any other filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 99.1 Press Release entitled "Outset Medical Announces Appointment of Medical Technology Veteran Brent D. Lang to its Board of Directors" dated March 13, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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 thereunto duly authorized. Outset Medical, Inc. Date: March 13, 2024 By: /s/Nabeel Ahmed Nabeel Ahmed Chief Financial Officer