8-K
Iradimed Corp (IRMD)
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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): April 28, 2022
IRADIMED CORPORATION
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
| 001-36534 | 73-1408526 |
|---|---|
| (Commission File Number) | (IRS Employer Identification No.) |
| 1025 Willa Springs Dr.,Winter Springs, Florida | 32708 |
| --- | --- |
| (Address of principal executive offices) | (Zip Code) |
(407) 677-8022
(Registrant’s telephone number, including area code)
(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))
Indicate by check mark whether the registrant is an emerging growth company 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. □
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class: | Trading Symbol | Name of each exchange on which registered: |
|---|---|---|
| Common stock, par value $0.0001 | IRMD | NASDAQ Capital Market |
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Resignation of Chris Scott
On April 28, 2022, iRadimed Corporation issued a press release (the “Press Release”) announcing the resignation of Chris Scott, Chief Financial and Operating Officer of iRadimed Corporation (the “Company”), effective May 27, 2022.
Appointment of Matt Garner
The Board of Directors of the Company has appointed Matt Garner, Controller, to serve as interim Chief Financial Officer, effective April 28, 2022. Mr. Garner joined the Company in February 2014 as the Company’s Assistant Controller. Mr. Garner, 44, has served as Controller of the Company since 2020. Prior to that, he served as Assistant Controller of the Company since joining the Company in February 2014. Mr. Garner has extensive finance and accounting experience, including 15 years within the medical equipment manufacturing industry. He holds a Bachelor of Science in Accounting degree from Southern New Hampshire University.
In connection with his appointment as interim Chief Financial Officer, Mr. Garner will be paid a bonus of $50,000, which the Company will gross up to cover tax and social costs up to a maximum of $76,000. This bonus will be paid on or before October 31, 2022, once the Company has announced a permanent Chief Financial Officer.
A copy of the Press Release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information in this Item 5.02, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that Section. Furthermore, such information, including Exhibit 99.1, shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description |
|---|---|
| 99.1 | Press release dated April 28, 2022. |
| 104 | Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101) |
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.
IRADIMED CORPORATION
Date: April 28, 2022
By: /s/Matt Garner
| Name: | Matt Garner |
|---|---|
| Title: | Controller and Interim Chief Financial Officer |
| --- | --- |
IRADIMED CORPORATION Executive Transition
Winter Springs, Florida, April 28, 2022 – iRadimed Corporation (the “Company”) (NASDAQ: IRMD), announced today announced that Chris Scott, Chief Financial and Operating Officer, has resigned from the Company effective May 27, 2022. Mr. Scott started at the Company in December 2013 and is departing to pursue other opportunities.
A formal search for a new CFO has commenced. The Company has appointed Matt Garner, Controller, to the additional role of interim CFO with immediate effect through the transition period.
“Chris has been a valued partner over the past eight years. Though he will be missed, he leaves us with a sound finance department. Matt has also been with us for just over eight years and is well prepared to step in as interim CFO with Chris providing maximum support during the 30-day transition period,” said Roger Susi, President and Chief Executive Officer of the Company.
About iRadimed Corporation
iRadimed Corporation is a leader in the development of innovative Magnetic Resonance Imaging (“MRI”) compatible medical devices. We develop, manufacture, market and distribute MRI compatible medical devices and accessories, disposables and services relating to them. To learn more about iRadimed, visit www.iradimed.com.
Media Contact:
InvestorRelations@iradimed.com