Sanara MedTech Appoints New CFO, Grants Stock Options
Ticker: SMTI · Form: 8-K · Filed: May 30, 2024 · CIK: 714256
| Field | Detail |
|---|---|
| Company | Sanara Medtech Inc. (SMTI) |
| Form Type | 8-K |
| Filed Date | May 30, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, compensation, stock-options
TL;DR
Sanara MedTech names new CFO, Michael O'Leary, starting June 3rd. He gets $275k salary + stock options.
AI Summary
Sanara MedTech Inc. announced on May 29, 2024, the appointment of Michael J. O'Leary as Chief Financial Officer, effective June 3, 2024. O'Leary will receive an annual base salary of $275,000 and is eligible for a discretionary annual bonus. He will also be granted 100,000 stock options, vesting over three years, and a restricted stock unit award of 50,000 shares, vesting over two years.
Why It Matters
The appointment of a new CFO and the associated stock-based compensation signal potential strategic shifts and management's confidence in future growth.
Risk Assessment
Risk Level: medium — Changes in key financial leadership can introduce uncertainty regarding future financial strategies and performance.
Key Numbers
- $275,000 — CFO Base Salary (Annual compensation for Michael J. O'Leary)
- 100,000 — Stock Options (Granted to new CFO, vesting over three years)
- 50,000 — Restricted Stock Units (Granted to new CFO, vesting over two years)
Key Players & Entities
- Sanara MedTech Inc. (company) — Registrant
- Michael J. O'Leary (person) — Newly appointed Chief Financial Officer
- $275,000 (dollar_amount) — Annual base salary for new CFO
- 100,000 (dollar_amount) — Stock options granted to new CFO
- 50,000 (dollar_amount) — Restricted stock units granted to new CFO
- May 29, 2024 (date) — Date of report and earliest event
- June 3, 2024 (date) — Effective date for new CFO
FAQ
What is Michael J. O'Leary's annual base salary?
Michael J. O'Leary's annual base salary is $275,000.
When does Michael J. O'Leary's appointment as CFO become effective?
His appointment is effective June 3, 2024.
How many stock options are being granted to the new CFO?
The new CFO will be granted 100,000 stock options.
What is the vesting schedule for the restricted stock units granted to the new CFO?
The 50,000 restricted stock units will vest over two years.
Is the new CFO eligible for a bonus?
Yes, Michael J. O'Leary is eligible for a discretionary annual bonus.
Filing Stats: 710 words · 3 min read · ~2 pages · Grade level 12.7 · Accepted 2024-05-30 16:15:31
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value SMTI The Nasdaq Capital M
Filing Documents
- form8-k.htm (8-K) — 43KB
- 0001493152-24-021982.txt ( ) — 213KB
- smti-20240529.xsd (EX-101.SCH) — 3KB
- smti-20240529_lab.xml (EX-101.LAB) — 33KB
- smti-20240529_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: May 30, 2024 Sanara MedTech Inc . By: /s/ Michael D. McNeil Name: Michael D. McNeil Title: Chief Financial Officer