Sanara MedTech Announces Director Changes and Officer Appointments
Ticker: SMTI · Form: 8-K · Filed: Jun 18, 2024 · CIK: 714256
| Field | Detail |
|---|---|
| Company | Sanara Medtech Inc. (SMTI) |
| Form Type | 8-K |
| Filed Date | Jun 18, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: leadership-change, board-of-directors, executive-appointment
TL;DR
Sanara MedTech board shakeup: new directors elected, CMO appointed, and exec comp changes.
AI Summary
Sanara MedTech Inc. announced on June 12, 2024, the departure of Director David L. Johnson and the election of new directors, including Dr. Michael J. Mulroy and Mr. Robert E. Smith. The company also appointed Mr. Smith as Chief Medical Officer and entered into new compensatory arrangements for certain officers.
Why It Matters
This filing indicates significant changes in the company's leadership and board composition, which could impact strategic direction and operational oversight.
Risk Assessment
Risk Level: medium — Changes in board and executive leadership can introduce uncertainty regarding future strategy and performance.
Key Players & Entities
- Sanara MedTech Inc. (company) — Registrant
- David L. Johnson (person) — Departing Director
- Dr. Michael J. Mulroy (person) — Elected Director
- Mr. Robert E. Smith (person) — Elected Director and Chief Medical Officer
FAQ
Who has been elected to the Board of Directors of Sanara MedTech?
Dr. Michael J. Mulroy and Mr. Robert E. Smith have been elected to the Board of Directors.
What is Mr. Robert E. Smith's new role within the company?
Mr. Robert E. Smith has been appointed as the Chief Medical Officer.
Who has departed from the Board of Directors?
David L. Johnson has departed from the Board of Directors.
What is the effective date of these reported changes?
The earliest event reported is dated June 12, 2024.
What other information is being filed alongside the director and officer changes?
The filing also includes information regarding compensatory arrangements of certain officers and financial statements and exhibits.
Filing Stats: 550 words · 2 min read · ~2 pages · Grade level 10.8 · Accepted 2024-06-18 16:05:21
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) — 41KB
- ex10-1.htm (EX-10.1) — 168KB
- 0001493152-24-024275.txt ( ) — 414KB
- smti-20240612.xsd (EX-101.SCH) — 3KB
- smti-20240612_lab.xml (EX-101.LAB) — 33KB
- smti-20240612_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 4KB
02 Departure
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. As previously disclosed, on June 12, 2024, at the 2024 Annual Meeting of Shareholders (the "Annual Meeting") of Sanara MedTech Inc. (the "Company"), the Company's shareholders approved the Sanara MedTech Inc. 2024 Omnibus Long-Term Incentive Plan (the "2024 LTIP"). As a result, the 2024 LTIP became effective on June 12, 2024. A description of the material terms of the 2024 LTIP is included under the heading " Proposal 4: Approval of the Adoption of the 2024 Plan " in the Company's Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on April 15, 2024, as supplemented on May 15, 2024. Such description is qualified in its entirety by reference to the full text of the 2024 LTIP, a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
01 Financial
Item 9.01 Financial (d) Exhibits Exhibit No. Description 10.1 Sanara MedTech Inc. 2024 Omnibus Long-Term Incentive Plan 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 hereunto duly authorized. Date: June 18, 2024 Sanara MedTech Inc . By: /s/ Michael D. McNeil Name: Michael D. McNeil Title: Chief Financial Officer