Vivani Medical, Inc 8-K, filed Nov 24, 2023
Vivani Medical, Inc. (VANI)
About this 8-K
Vivani Medical, Inc filed this 8-K on November 24, 2023, reporting on events of November 20, 2023.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 9.01: Financial statements and exhibits
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
As part of a reduction in workforce at Cortigent, Inc. (“Cortigent”), a wholly-owned subsidiary of Vivani Medical, Inc. (the “Company”), the Company terminated without cause the employment of Scott Dunbar, a named executive officer in the Company’s 2023 proxy statement and former Acting Chief Executive Officer of the Company’s predecessor, Second Sight Medical Products, Inc., effective as of November 20, 2023 (the “Separation Date”).
In connection with Mr. Dunbar’s departure, the Company is providing him with severance benefits consisting of a payment of approximately $70,000 and reimbursement of continued COBRA coverage premiums for up to six months to the extent Mr. Dunbar is eligible and elects to continue such coverage. The Company intends to enter into a customary separation and release agreement with Mr. Dunbar (the “Separation Agreement”) to memorialize such arrangements.
The foregoing description of the Separation Agreement does not purport to be complete and is qualified in its entirety by reference to the Separation Agreement, which the Company intends to file as an exhibit to its Annual Report on Form 10-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| No. | Description of Exhibit | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| VIVANI MEDICAL, INC. | |||
| Date: | November 24, 2023 | By: | /s/ Brigid Makes |
| Brigid
Makes Chief Financial Officer (Principal Financial and Accounting Officer) |