UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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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.
On August 15, 2024, Jim Hinrichs, a member of the Board of Directors (the “Board”) of Outset Medical, Inc. (the “Company”), notified the Company of his decision to resign from the Board and his role as Audit Committee Chair, effective immediately. Mr. Hinrichs is resigning in connection with a significant affiliation with Vantive, a new standalone company to be formed by Baxter International, Inc.’s spin-off of its kidney care business pursuant to a recently-announced definitive agreement. His resignation is not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.
Following Mr. Hinrichs’ resignation, effective August 15, 2024, the Board approved a decrease in the size of the Board from eight (8) directors to seven (7) directors, and appointed Patrick T. Hackett, who has served on the Board since 2019 and is a member of the Audit Committee, as Audit Committee Chair to fill the vacancy created by Mr. Hinrichs’ departure from the position. The Board also determined that Mr. Hackett qualifies as an “audit committee financial expert” as defined by Item 407(d)(5) of Regulation S-K under the Securities Exchange Act of 1934, as amended. In addition, the Board approved transitioning the role of Nominating and Corporate Governance Committee Chair from Mr. Hackett to Karen Drexler, effective August 15, 2024.
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 thereunto duly authorized.
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Outset Medical, Inc.
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Date: August 16, 2024 |
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By: |
/s/ John Brottem |
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John Brottem |
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General Counsel |