Neuronetics Announces CFO Departure, Appoints Interim
Ticker: STIM · Form: 8-K · Filed: Mar 6, 2024 · CIK: 1227636
| Field | Detail |
|---|---|
| Company | Neuronetics, Inc. (STIM) |
| Form Type | 8-K |
| Filed Date | Mar 6, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01, $226,341, $206,747, $660,800 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-change, board-change, cfo-departure
TL;DR
CFO out, interim in, two new board members. Watch this space.
AI Summary
Neuronetics, Inc. announced on February 29, 2024, the departure of its Chief Financial Officer, Michael R. Rago, effective March 1, 2024. The company also appointed Mark D. Johnson as interim CFO. Additionally, the company elected two new directors, Dr. David L. R. Smith and Ms. Jennifer L. Chien, to its Board of Directors.
Why It Matters
Changes in key executive positions and board composition can signal shifts in company strategy or financial direction, potentially impacting investor confidence and stock performance.
Risk Assessment
Risk Level: medium — Executive departures and board changes can introduce uncertainty regarding leadership stability and future strategic direction.
Key Players & Entities
- Neuronetics, Inc. (company) — Registrant
- Michael R. Rago (person) — Departing Chief Financial Officer
- March 1, 2024 (date) — Effective date of CFO departure
- Mark D. Johnson (person) — Appointed interim Chief Financial Officer
- Dr. David L. R. Smith (person) — Elected Director
- Ms. Jennifer L. Chien (person) — Elected Director
- February 29, 2024 (date) — Date of report
FAQ
Who has been appointed as the interim Chief Financial Officer?
Mark D. Johnson has been appointed as the interim Chief Financial Officer.
When is Michael R. Rago's departure as CFO effective?
Michael R. Rago's departure as CFO is effective March 1, 2024.
How many new directors were elected to the Board?
Two new directors, Dr. David L. R. Smith and Ms. Jennifer L. Chien, were elected to the Board.
What is the company's principal executive office address?
The company's principal executive office is located at 3222 Phoenixville Pike, Malvern, PA 19355.
What is the exact name of the registrant?
The exact name of the registrant is Neuronetics, Inc.
Filing Stats: 483 words · 2 min read · ~2 pages · Grade level 12.3 · Accepted 2024-03-06 16:01:56
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value STIM The Nasdaq Global Ma
- $226,341 — Corporate Secretary, in the amounts of $226,341 and $206,747, respectively. In addition
- $206,747 — cretary, in the amounts of $226,341 and $206,747, respectively. In addition, the Compens
- $660,800 — ief Executive Officer, in the amount of $660,800. The Board considered the Compensation
Filing Documents
- d792313d8k.htm (8-K) — 21KB
- 0001193125-24-060703.txt ( ) — 140KB
- stim-20240229.xsd (EX-101.SCH) — 3KB
- stim-20240229_lab.xml (EX-101.LAB) — 18KB
- stim-20240229_pre.xml (EX-101.PRE) — 11KB
- d792313d8k_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. NEURONETICS, INC. Date: March 6, 2024 By: /s/ W. Andrew Macan Name: W. Andrew Macan Title: EVP, General Counsel, Chief Compliance Officer and Corporate Secretary