ENTEROMEDICS INC FILES (8-K) Disclosing Change in Directors or Principal Officers

Edgar Glimpses |

Item 5.02. Departure of Directors or Certain Officers; Election of Directors;

Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(e) On June 23, 2014, the Board of Directors (the "Board") of EnteroMedics Inc. (the "Company") approved a special, one-time cash bonus for all employees of the Company in recognition of the vote by the Gastroenterology and Urology Devices Panel of the Medical Devices Advisory Committee (the "Panel") of the U.S. Food and Drug Administration regarding the safety, efficacy and benefit/risk ratio of the Company's Maestro Rechargeable System that occurred at the Panel's meeting on June 17, 2014.

Each employee, including the officers of the Company, will receive a cash bonus equal to 10\% of such employee's current, annual base salary. The cash bonus shall be pro-rated for any employee who was employed by the Company for fewer than 180 days as of June 17, 2014.

Additionally, as a result of the Panel's positive vote, and after consideration of a peer group compensation study conducted by Pearl Meyer & Partners ("Pearl Meyer") on behalf of the Company, the Board approved increases to the base annual salary of its officers, effective as of July 1, 2014. The Board adopted the salary increases based upon the recommendations of Pearl Meyer in order to align the compensation of the Company's officers with that of their peers in comparable companies. The following table sets forth the increase to the annual base salary for each of the Company's named executive officers and their new annual base salary as of July 1, 2014.

Annual Base Salary as of Name Position Salary Increase July 1, 2014 Mark Knudson Chairman, President, Chief $ 35,500 $ 389,552 Executive Officer Greg Lea Senior Vice President, Chief $ 27,500 $ 322,507 Financial Officer, Chief Operating Officer Adrianus Donders Senior Vice President of Research $ 13,000 $ 276,742 and Advanced Development Katherine Tweden Vice President, Clinical and $ 13,000 $ 277,258 Regulatory


DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer


Symbol Name Price Change % Volume


Emerging Growth

Breathtec BioMedical Inc.

Breathtec Biomedical Inc is a medical diagnostics company. It is engaged in developing & commercializing breath analysis devices for the early detection of infections & life threatening diseases including cancers,…

Private Markets

Almond Smart Home Router by Securifi

Securifi sells user friendly touch screen routers that also have support for IoT/home automation.Securifi’s Almond revolutionized wireless router setup with its easy to use Touchscreen Interface in 2012. Now our…


Snapchat is the fastest way to share a moment with friends. The mobile app, allows users to not only share photos with friends but also control how long they can…