BIOLASE CEO to Continue at Symbolic Annual Cash Salary of $1.00
March 06 2013 - 9:00AM
Marketwired
BIOLASE, Inc. (NASDAQ: BIOL), the world's leading dental laser
manufacturer and distributor, announced today that Chief Executive
Officer Federico Pignatelli will continue at a symbolic annual cash
salary of $1.00 for the year ending December 31, 2013.
Pignatelli stated, "In my continuing effort to align
management's interest with the interests of our shareholders, as it
should be for every listed Company, and so for BIOLASE, the Board
of Directors has accepted my offer to continue to serve as the CEO
for a symbolic annual cash salary of $1.00 for 2013. To reiterate
what I have said in the past, it simply makes sense to align my
interest as a shareholder with that of all shareholders, the
ultimate owners of BIOLASE. My goal is for BIOLASE to generate
continued growth and improved financial performance. As the
Chairman and CEO, I will not benefit unless our shareholders
benefit. It remains my firm belief that a CEO's compensation should
be tied only to the financial performance of the companies they
lead and I invite others to follow my example."
As of December 31, 2012, Pignatelli owned approximately 4.8% of
BIOLASE's common shares outstanding on a diluted basis, the vast
majority of which he purchased in the open market over time.
About BIOLASE, Inc. BIOLASE, Inc. is a biomedical company that
develops, manufactures and markets dental lasers and also
distributes and markets dental imaging equipment; products that are
focused on technologies that advance the practice of dentistry and
medicine. The Company's laser products incorporate approximately
314 patented and patent-pending technologies designed to provide
biologically clinically superior performance with less pain and
faster recovery times. Its imaging products provide cutting-edge
technology at competitive prices to deliver the best results for
dentists and patients. BIOLASE's principal products are dental
laser systems that perform a broad range of dental procedures,
including cosmetic and complex surgical applications, and a full
line of dental imaging equipment. BIOLASE has sold more than 22,000
lasers worldwide. Other products under development address
ophthalmology and other medical and consumer markets.
For updates and information on WaterLase and laser dentistry,
find BIOLASE online at www.biolase.com, Facebook at
www.facebook.com/biolaseinc, Twitter at twitter.com/biolaseinc, and
YouTube at www.youtube.com/biolasevideos.
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For further information, please contact: Lisa Wilson In-Site
Communications, Inc. 212-759-3929
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