8-K 1 stim-8k_20190228.htm 8-K stim-8k_20190228.htm

 

 

UNITED STATES

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) February 28, 2019

 

________________________

NEURONETICS, INC.

(Exact name of registrant as specified in its charter)

 ________________________

 

 

 

 

 

 

 

Delaware

 

001-38546

 

33-1051425

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification No.)

 

 

 

 

3222 Phoenixville Pike, Malvern, PA

 

19355

(Address of principal executive offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code (610) 640-4202

 

(Former name or former address, if changed since last report.) Not applicable.

 

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 [X]

 

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 2.02

Results of Operations and Financial Condition.

On March 5, 2019, Neuronetics, Inc. (the “Company”) announced its financial results for the fourth quarter and year ended December 31, 2018 in the press release attached hereto as Exhibit 99.1 and incorporated herein by reference.

The information in this Item 2.02, including the attached Exhibit 99.1, is being furnished and shall not be deemed “filed” for the 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, nor shall it be deemed incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. Except as required by law, we undertake no duty or obligation to publicly update or revise the information so furnished.

 

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On February 28, 2019, the Company’s Board of Directors approved the payment of incentive bonuses for the Company’s 2018 results for the executive officers named below:

 

Executive Officer

 

 

 

2018 Cash Bonus

 

 

 

 

 

Chris Thatcher, President and Chief Executive Officer

 

 

 

$430,121

Peter Donato, Chief Financial Officer

 

 

 

$172,214

Daniel Guthrie, Chief Commercial Officer

 

 

 

$104,132

Yelena Tropsha, Vice President of Commercial Access

 

 

 

$117,910

On February 28, 2019, in connection with its annual review of executive compensation, the Company’s Board of Directors approved the following compensation packages for the year ending December 31, 2019 for the executive officers named below:

Executive Officer

Base Salary

Annual Target Cash Bonus (% of Base Salary)

Chris Thatcher, President and Chief Executive Officer

$535,000

75%

Peter Donato, Chief Financial Officer

$345,000

45%

Daniel Guthrie, Chief Commercial Officer

$325,000

45%

Yelena Tropsha, Vice President of Commercial Access

$309,000

35%

 

Item 9.01 Financial Statements and Exhibits.

 

Exhibit

Number

 

Description

 

 

 

99.1

 

Press Release, dated March 5, 2019, of Neuronetics, Inc

 

 

 

 


 


 

SIGNATURE

 

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.

 

(Registrant)

 

Date: March 5, 2019

By:

 

/s/ Peter Donato

 

Name:

 

Peter Donato

 

Title:

 

VP, Finance and Chief Financial Officer

 

 

 

(Principal Financial and Accounting Officer)