Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers.
On November 1, 2018, the Board of Directors (the “Board”) of BioTelemetry, Inc. (the “Company”) appointed Dr. Stephan Rietiker to the Board, filling a Class III vacancy. Dr. Rietiker has not been appointed to serve as a member of any Board committees.
Consistent with the other non-employee directors of the Board, Dr. Rietiker will receive an annual retainer of $55,000, payable, at his election, in cash or restricted stock units, and an annual grant of restricted stock units valued at $130,000. In each case, such amounts shall be prorated to reflect the date Dr. Rietiker's service began. Additionally, the Company expects Dr. Rietiker to enter into the Company’s standard indemnification agreement for its directors.
Prior to his appointment to the Board, Dr. Rietiker was employed by a subsidiary of the Company. Dr. Rietiker's employment ceased on October 31, 2018. At such time, Dr. Rietiker and LifeWatch GmbH entered into a Termination Agreement, which entitled Dr. Rietiker to a CHF 675,000 payment for notice and bonus pay, a CHF 9,000 payment for expenses, and a CHF 38,259 pension contribution. Prior to Dr. Rietiker's employment ceasing, he received an annual salary from LifeWatch GmbH of CHF 450,000 and an annual car allowance CHF 18,000 pursuant to his employment agreement.
A copy of the press release announcing Dr. Rietiker's appointment to the Board is attached hereto as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
Press release dated November 7, 2018
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.
Dated: November 7, 2018
/s/ Heather C. Getz
Heather C. Getz
Executive Vice President and Chief Financial Officer