Current Report Filing (8-k)
September 16 2016 - 08:32AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 12, 2016
ALPHATEC HOLDINGS, INC.
(Exact Name of Registrant as Specified in its Charter)
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Delaware
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000-52024
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20-2463898
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(State or Other Jurisdiction
of Incorporation)
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(Commission
File Number)
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(IRS Employer
Identification No.)
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5818 El Camino Real, Carlsbad, CA
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92008
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(Address of Principal Executive Offices)
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(Zip Code)
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Registrants telephone number, including area code: (760) 431-9286
(Former Name or Former Address, if Changed Since Last Report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (
see
General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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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.
As previously reported, on September 12, 2016, James M. Corbett departed
from his position as Alphatec Holdings, Inc.s (the Company) and Alphatec Spine, Inc.s (Spine) President and Chief Executive Officer, and as a member of the Companys and Spines Board of Directors
(collectively, the Board). In connection with Mr. Corbetts resignation and in consideration for his prior service to the Company and Spine, the Company, Spine and Mr. Corbett entered into a separation agreement, dated as
of September 12, 2016 (the Separation Agreement). Pursuant to the terms of the Separation Agreement, Mr. Corbett will receive cash severance payments of (i) nine months of his annual base salary prior to his departure,
which amounts to $397,500; and (ii) a payment equal to 100% of Mr. Corbetts target bonus amount, which amounts to $424,000. The foregoing payments are less applicable withholding amounts and payable bi-weekly over a period of 39
weeks in accordance with the Companys payroll practices. In addition, the Company will pay the cost of COBRA insurance coverage for Mr. Corbett and his eligible family members for a period of nine months, including a gross up of taxes for
such payments. The Separation Agreement contains a release by Mr. Corbett of any claims in favor of the Company. The Separation Agreement also contains certain restrictive covenants and confidentiality provisions, including non-solicitation and
non-disparagement obligations continuing for twelve months.
The foregoing description of the Separation Agreement does not purport to be
complete and is qualified in its entirety by reference to the full text of such agreement, a copy of which will be filed with the Companys Quarterly Report on Form 10-Q for the period ending September 30, 2016.
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 hereunto duly authorized.
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ALPHATEC HOLDINGS, INC.
(Registrant)
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Date: September 16, 2016
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/s/ Ebun S. Garner, Esq.
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Ebun S. Garner, Esq.
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General Counsel and Senior Vice President
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