Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Appointment of Directors
The Board of Directors (the Board) of Axonics Modulation Technologies, Inc. (the
Company) has appointed David M. Demski, to serve as a member of the Board and
the Audit Committee of the Board, effective January 1, 2021. Mr. Demski has no
direct or indirect material interest in any transaction required to be disclosed
pursuant to Item 404(a) of Regulation S-K, has no arrangement or understanding
with any other person required to be disclosed pursuant to Item 401(a) of
Regulation S-K and has no family relationships required to be disclosed pursuant
to Item 401(d) of Regulation S-K.
Pursuant to the terms of the Company's 2018 Omnibus Incentive Plan, Mr. Demski
will be granted an option to purchase 10,000 shares of the Company's common
stock and 3,500 restricted shares of the Company's common stock on January 1,
2021, the effective date of Mr. Demski's appointment. Subject to certain
conditions, such option will have an exercise price equal to the closing sale
price of the Company's common stock on the Nasdaq Global Market on December 31,
2020, and such option and restricted shares shall be fully vested as of December
31, 2021.
Mr. Demski, age 62, currently serves as president and CEO of Globus Medical,
Inc. (Nasdaq: GMED), a publicly traded medical technology company that
manufactures and markets musculoskeletal implants and related surgical products.
Mr. Demski has served as a member of the Globus board of directors since the
inception of Globus in 2003. From 2003 until his appointment as CEO of Globus in
2017, Mr. Demski held various senior management positions at Globus, including
chief financial officer, chief operating officer and president, Emerging
Technologies. Mr. Demski received a B.S. in Business Administration from the
University of Michigan and an M.B.A. from Stanford Graduate School of Business.
Departure of Directors
On December 11, 2020, Juliet Tammenoms Bakker resigned as a member of the Board
and as Chair of the Compensation Committee. Ms. Tammenoms Bakker's decision to
resign was not the result of any disagreement with the Company, the Board,
management, or any matter relating to the Company's operations, policies or
practices.
Erik Amble has provided notice to the Board that he will resign as a member of
the Board and the Audit Committee, effective December 31, 2020. Mr. Amble's
decision to resign was not the result of any disagreement with the Company, the
Board, management, or any matter relating to the Company's operations, policies
or practices.
Item 8.01. Other Events.
On December 14, 2020, the Company issued a press release announcing certain of
the matters described in Item 5.02 of this Current Report on Form 8-K. The full
text of the press release is furnished as Exhibit 99.1 to this Current Report on
Form 8-K and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit Number Description
99.1 Press release of Axonics Modulation Technologies, Inc., dated
December 14, 2020
104 Cover Page Interactive Date File - the cover page XBRL tags are
embedded within the Inline XBRL document.
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