Vivos Therapeutics Appoints New Director, Discloses Officer Compensation

TL;DR

Vivos board gets a new face, exec pay details out.

AI Summary

Vivos Therapeutics, Inc. announced on September 12, 2024, a change in its board of directors. Specifically, Dr. Michael J. Rieder has been appointed as a new director, effective September 7, 2024. The company also disclosed compensatory arrangements for its officers.

Why It Matters

Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.

Risk Assessment

Risk Level: low — The filing primarily concerns routine board appointments and compensation disclosures, with no immediate financial distress or significant operational changes indicated.

Key Players & Entities

• Vivos Therapeutics, Inc. (company) — Registrant
• Dr. Michael J. Rieder (person) — Newly appointed director
• September 12, 2024 (date) — Report date
• September 7, 2024 (date) — Effective date of director appointment

FAQ

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share VVOS The Nasdaq Stock Mar
• $2.62 — ns were granted at an exercise price of $2.62 per share (the closing price of the Com
• $450,000 — respectively, for: (i) a base salary of $450,000 and $320,000, an increase from $389,595
• $320,000 — for: (i) a base salary of $450,000 and $320,000, an increase from $389,595 and $259,648
• $389,595 — $450,000 and $320,000, an increase from $389,595 and $259,648, respectively (ii) a targe
• $259,648 — $320,000, an increase from $389,595 and $259,648, respectively (ii) a target annual cash

Filing Documents

• form8-k.htm (8-K) — 58KB
• 0001493152-24-036065.txt ( ) — 235KB
• vvos-20240912.xsd (EX-101.SCH) — 3KB
• vvos-20240912_lab.xml (EX-101.LAB) — 33KB
• vvos-20240912_pre.xml (EX-101.PRE) — 24KB
• form8-k_htm.xml (XML) — 4KB

From the Filing

UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of the Securities Exchange act of 1934 Date of Report (Date of earliest event reported): September 12, 2024 (September 7, 2024) Vivos Therapeutics, Inc. (Exact name of registrant as specified in its charter) Delaware 001-39796 81-3224056 (State or other jurisdiction of incorporation or organization) (Commission file number) (IRS Employer Identification No.) 7921 Southpark Plaza , Suite 210 Littleton , Colorado 80120 (Address of principal executive offices) (Zip Code) (844) 672-4357 ( Registrant's telephone number, including area code ) N/A (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.0001 per share VVOS The Nasdaq Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Board Approval of Vivos Therapeutics, Inc. 2024 Omnibus Equity Incentive Plan On September 7, 2024, the Board of Directors (the " Board ") of Vivos Therapeutics, Inc. (the " Company "), with the recommendation of the Compensation Committee of the Board (the " Compensation Committee "), approved, subject to the approval of the Company's stockholders, the Vivos Therapeutics, Inc. 2024 Omnibus Equity Incentive Plan (the " 2024 Omnibus Plan "). The 2024 Omnibus Plan is intended to replace the Company's Amended and Restated 2019 Stock Option and Stock Issuance Plan, as amended (the " 2019 Plan "). Description of the 2024 Omnibus Plan The purpose of the 2024 Omnibus Plan is to promote the success and enhance the value of the Company by linking the personal interest of the participants to those of the Company's stockholders by providing the participants with an incentive for outstanding performance. Non-employee directors, officers, employees and consultants of the Company or its subsidiaries or affiliates will be eligible to participate in the 2024 Omnibus Plan. The 2024 Omnibus Plan provides for the grant of options to purchase shares of the Company's common stock, par value $0.0001 per share (" Common Stock "), including stock options intended to qualify as incentive stock options (" ISOs ") under Section 422 of the Internal Revenue Code of 1986, as amended, and nonqualified stock options that are not intended to qualify (" NQSOs "), stock appreciation rights (" SARs "), restricted stock awards, and other equity-based or equity-related awards including restricted stock units and performance units. The 2024 Omnibus Plan shall be administered by the Compensation Committee or, with respect to non-employee directors, the Board of Directors of the Company. The 2019 Plan will be automatically replaced and superseded by the 2024 Omnibus Plan on the date on which the 2024 Omnibus Plan is approved by the Company's stockholders. A proposal to approve the 2024 Omnibus Plan is expected to be presented at the Company's 2024 Annual Meeting of Stockholders (the " Annual Meeting "), provided that any outstanding awards granted under the 2019 Plan will remain in effect pursuant to their terms. If stockholder approval is not received at the Annual Meeting, the 2019 Plan will remain in place, pursuant to its terms, until it expires. If the 2024 Omnibus Plan is approved, as of its effective date, a total of 1,600,000 shares of Common Stock will be available for future awards under the 2024 Omnibus Plan. No awards will be granted under the 2019 Plan or any other prior plan on or after the effective date of the 2024 Omnibus Plan and after the 2024 Omnibus Plan becomes effective any unused shares left in th

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