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
The Board of Directors of Merit Medical Systems, Inc. (“Merit”) appointed Joseph C. Wright as President of Merit, effective as of May 15, 2024. In connection with Mr. Wright’s appointment, Fred P. Lampropoulos resigned as President of Merit. Mr. Lampropoulos will continue to serve as Merit’s Chief Executive Officer.
Prior to his appointment as President of Merit, Mr. Wright was serving as Merit’s Chief Commercial Officer. He held previous positions at Merit including (a) President, International Division, (b) President, Technology Group – overseeing Merit OEM, Merit Sensor Systems, Inc. and Merit’s coating division, (c) Vice President of Marketing, and (d) Vice President, International Division – responsible for sales in Canada, Asia Pacific, and Latin America. Before joining Merit, Mr. Wright held sales, marketing and business development positions with several companies, including Motorola and Micron. He holds Bachelor of Arts and Masters of Business Administration degrees from Columbia University. Mr. Wright, 54, is the brother-in-law of Mr. Lampropoulos, Chief Executive Officer and Chairman of the Board of Directors of Merit.
In connection with Mr. Wright’s appointment as President, the Compensation Committee of Merit’s Board of Directors increased his annual base salary to $750,000, increased his target rate under Merit’s Executive Bonus Plan to 50%, and granted to him a one-time award of restricted stock units with a value equal to $475,000.
Item 8.01. Other Events.
Merit’s press release announcing the appointment of Mr. Wright as Merit’s President is attached hereto as Exhibit 99.1. The information contained in Exhibit 99.1 is intended to be furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
EXHIBIT NUMBER |
| DESCRIPTION |
99.1 | Press Release, dated May 15, 2024, entitled “Merit Medical Executive Leadership Team Update” | |
104 | The cover page from this Current Report on Form 8-K, formatted in Inline XBRL. |
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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.
MERIT MEDICAL SYSTEMS, INC. | ||
Date: May 16, 2024 | By: | /s/ Brian G. Lloyd |
Brian G. Lloyd | ||
Chief Legal Officer and Corporate Secretary | ||
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