Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Effective as of February 15, 2021, the Board of Directors of Bioanalytical
Systems, Inc. (the "Company") elected John Gregory Beattie, age 54, Chief
Operating Officer of the Company.
Mr. Beattie previously held Corporate Vice President positions at Charles River
Laboratories, a contract research organization, where he led business units
within all three of their segments. In these roles, Mr. Beattie was responsible
for driving operational performance. There are no arrangements or understandings
between Mr. Beattie and any other persons pursuant to which he was elected as an
officer and Mr. Beattie has no family relationships with any other director or
executive officer of the Company.
Under the terms of Mr. Beattie's employment, he is entitled to receive an annual
base salary of $300,000 and a discretionary annual incentive bonus which is tied
to company performance metrics and individual achievements. Mr. Beattie is also
entitled to participate in the Company's benefit plans and programs provided to
Company executives generally, subject to eligibility requirements and the other
terms and conditions of those plans and programs. On February 15, 2021, Mr.
Beattie received a grant of 15,000 restricted shares, which vest on the second
anniversary of the grant date, subject to relevant vesting parameters.
Item 7.01 Regulation FD Disclosure.
On February 11, 2021, the Company issued a press release regarding Mr. Beattie's
election. A copy of the press release is furnished as Exhibit 99.1 to this
report. Exhibit 99.1 is being furnished and shall not be deemed "filed" for
purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the
"Exchange Act"), or otherwise subject to the liabilities of that section, nor
shall it be deemed incorporated by reference into any other filing under the
Securities Act of 1933, as amended, or the Exchange Act, except as expressly set
forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
99.1 Press Release, dated February 11, 2021.
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