908 Devices Inc
For the period ended Dec 31, 2024. Filed Mar 7, 2025.
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FY2024 · Filed Mar 7, 2025
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Item 9B. Other Information
None of our directors or executive officers adopted orterminated a Rule 10b5-1 trading arrangement or a non-Rule 10b5-1 trading arrangement during the quarter ended December 31, 2024, as such terms are defined under Item 408(a) of Regulation S-K.
On March 4, 2025, the Company entered into second amendments to executive employment agreements (collectively, the “Second Amendments to Executive Employment Agreements”) with each of Kevin J. Knopp, Ph.D., the Company’s Chief Executive Officer, Joseph H. Griffith IV, the Company’s Chief Financial Officer and Michael S. Turner, the Company’s Chief Legal and Administrative Officer (the “NEOs”), in each case effective as of March 4, 2025. The Second Amendments to Executive Employment Agreements reflect the following material changes:
In the event of an involuntary termination without “cause” (as such term is defined in the Executive Employment Agreements) or a resignation for “good reason” (as such term is defined in the Executive Employment Agreements), outside of a “change in control period” (as such term is defined in the Executive Employment Agreements), each of Mr. Griffith and Mr. Turner shall be, in addition to other benefits, entitled to payments from the Company for a period of 12 months following termination, for continuation of then current base salary and the Company portion of health benefit premiums.
In the event of an involuntary termination without “cause” or a resignation for “good reason”, inside of a “change in control period”, each of Mr. Knopp, Mr. Griffith and Mr. Turner shall be, in addition to other benefits, entitled to a lump sum payment from the Company in an amount equal to one (1) times the sum of: (A) then current base salary, plus (B) then current target annual bonus.
This summary is qualified in its entirety by reference to the Second Amendments to Executive Employment Agreements, copies of which are included as Exhibits 10.21, 10.22 and 10.23 to this Annual Report on Form 10-K and incorporated by reference herein.
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