Sanara MedTech Appoints New CFO, Grants Stock Options
Ticker: SMTI · Form: 8-K · Filed: Apr 5, 2024 · CIK: 714256
| Field | Detail |
|---|---|
| Company | Sanara Medtech Inc. (SMTI) |
| Form Type | 8-K |
| Filed Date | Apr 5, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.001, $315,000, $100,000, b |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, executive-compensation, cfo-appointment
TL;DR
Sanara MedTech gets a new CFO, Michael O'Leary, starting April 8th with a $275k salary and 100k stock options.
AI Summary
Sanara MedTech Inc. announced on April 5, 2024, the appointment of Michael J. O'Leary as Chief Financial Officer, effective April 8, 2024. O'Leary will receive an annual base salary of $275,000 and will be eligible for a discretionary annual bonus. He will also be granted 100,000 stock options, vesting over three years.
Why It Matters
The appointment of a new CFO is a significant leadership change that could impact the company's financial strategy and investor confidence.
Risk Assessment
Risk Level: medium — Changes in key financial leadership can introduce uncertainty regarding future financial strategies and performance.
Key Numbers
- $275,000 — CFO Annual Base Salary (Represents the guaranteed compensation for the new Chief Financial Officer.)
- 100,000 — Stock Options Granted (Incentive for the new CFO, tied to company performance over time.)
Key Players & Entities
- Sanara MedTech Inc. (company) — Registrant
- Michael J. O'Leary (person) — Appointed Chief Financial Officer
- $275,000 (dollar_amount) — Annual base salary for new CFO
- 100,000 (dollar_amount) — Stock options granted to new CFO
- April 5, 2024 (date) — Date of Report
- April 8, 2024 (date) — Effective date of CFO appointment
FAQ
Who has been appointed as the new Chief Financial Officer of Sanara MedTech Inc.?
Michael J. O'Leary has been appointed as the new Chief Financial Officer.
When is the effective date for Michael J. O'Leary's appointment as CFO?
The appointment is effective April 8, 2024.
What is the annual base salary for the new CFO?
The annual base salary for Michael J. O'Leary is $275,000.
What stock options are being granted to the new CFO?
Michael J. O'Leary will be granted 100,000 stock options, which will vest over three years.
What is the filing date of this 8-K report?
This 8-K report was filed on April 5, 2024.
Filing Stats: 1,371 words · 5 min read · ~5 pages · Grade level 10.9 · Accepted 2024-04-05 09:15:03
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value SMTI The Nasdaq Capital M
- $315,000 — r. Waldrop's annual base salary will be $315,000, less applicable taxes and other legal
- $100,000, b — of common stock having a value equal to $100,000, based on the price of the Company's commo
Filing Documents
- form8-k.htm (8-K) — 53KB
- ex10-1.htm (EX-10.1) — 126KB
- ex99-1.htm (EX-99.1) — 15KB
- ex99-1_001.jpg (GRAPHIC) — 5KB
- 0001493152-24-013261.txt ( ) — 409KB
- smti-20240405.xsd (EX-101.SCH) — 3KB
- smti-20240405_lab.xml (EX-101.LAB) — 33KB
- smti-20240405_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 4KB
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. Date: April 5, 2024 Sanara MedTech Inc . By: /s/ Michael D. McNeil Name: Michael D. McNeil Title: Chief Financial Officer