Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On April 22, 2020, Heska Corporation (the "Company") announced organizational
changes to its Executive Team to accommodate its global expansion and support
the recent acquisition of scil animal care company. The Board of Directors (the
"Board") of the Company appointed the following individuals to new leadership
roles to enhance its global expansion capabilities and drive execution of best
practices and Company objectives:
• Steve Eyl, Executive Vice President, Chief Commercial Officer, Heska
and President, scil animal care company
• Eleanor Baker, Executive Vice President, Managing Director and Chief
Operating Officer, scil animal care company
• Christopher Sveen, Executive Vice President, Chief Administrative
Officer and General Counsel, Heska and President, Diamond Animal
Health
Effective April 16, 2020, the Company entered into an Employment Agreement with
Mr. Eyl (the "Agreement"). The Agreement with Mr. Eyl is for one (1) year with
automatic one (1) year renewals, subject to a 120 non-renewal notice period.
Pursuant to the terms of the Agreement, Mr. Eyl will receive an initial annual
base salary of $350,000 (the "Base Salary") and will be eligible to participate
in the Company's Management Incentive Plan. As additional compensation
incentives, Mr. Eyl will be entitled to 100,000 stock options that vest over two
years as certain time and if certain performance objectives are achieved. Mr.
Eyl will also be entitled to participate in the Company's Benefit Plans (as
defined in the Agreement) available to other Company executives. The provisions
of the Agreement relating to compensation in the event of Mr. Eyl's termination
are unchanged from those in his previous employment agreement, which was
included as an exhibit to the Company's most recent Annual Report on Form 10-K,
provided that he is also entitled to 6 months' severance if the Agreement is not
renewed.
Effective April 16th, 2020, the Company made the following changes to the
compensation of the following named executive officers:
• Nancy Wisnewski, Executive Vice President, Chief Operating Officer:
annual base salary increase to $325,000; 45,000 stock options that
vest over two years as certain time and if certain performance
objectives are achieved.
• Catherine Grassman, Executive Vice President, Chief Financial
Officer: annual base salary increase to $325,000; 45,000 stock
options that vest over two years as certain time and if certain
performance objectives are achieved. Ms. Grassman also received a
cash bonus of $75,000 due to completion of the acquisition of scil
animal care company.
Item 8.01 Other Events.
On April 22, 2020, the Company issued a press release announcing the expansion
of its existing leadership team to add a Chief Commercial Officer, a Chief
Administrative Officer and Managing Director of scil animal care company. A copy
of the press release is filed as Exhibit 99.1 hereto and is incorporated herein
by reference.
Exhibit Number Description
99.1 Press release dated April 22, 2020
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