Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. George A. Cardoza AppointmentNeoGenomics, Inc. (the "Company") announces thatGeorge A. Cardoza , age 59, has been appointed President and Chief Operating Officer, Lab Operations effectiveJuly 5, 2021 .Mr. Cardoza has served the Company sinceNovember 2009 , serving as Chief Financial Officer throughMarch 2018 and as President,Pharma Services Division sinceMarch 2018 . In connection with his new role, the Company andMr. Cardoza entered into an employment agreement which provides thatMr. Cardoza's base salary will be$500,000 per year.Mr. Cardoza is also eligible to receive a performance based bonus which is targeted at up to 60% of his base salary. This bonus is contingent upon completion of specific metrics established by the Board or the Compensation Committee for such fiscal year. In the event thatMr. Cardoza's performance exceeds the thresholds for the target bonus, he may be eligible to receive up to 200% of the target bonus.Mr. Cardoza is entitled to participate in all medical and other benefits that the Company has established for its employees and is eligible for up to 4 weeks of paid time off per year. IfMr. Cardoza is terminated without cause the Company agrees to maintain his base salary for a period of twelve months as severance. In addition,Mr. Cardoza will be entitled to received his annual target bonus for the fiscal year prorated based on the date of separation. Upon appointment to this new role,Mr. Cardoza was awarded an equity award valued at$1,000,000 , which was comprised of 7,584 shares of restricted stock subject to four year vesting, and an option to purchase 40,502 shares of the Company's common stock at an exercise price equivalent to the closing price per share at which such stock was quoted on theNASDAQ Stock Market on the date prior to the grant date. The option has a seven year term, subject to continued employment, and will vest ratably over the first four anniversary dates of the grant date.Mr. Cardoza does not have any family relationships with any of the Company's other officers or directors. Gina M. Wallar Appointment The Company announces that Dr.Gina M. Wallar , age 46, has been appointed President,Pharma Services Division effectiveJuly 5, 2021 to replace the vacancy left byMr. Cardoza's assumption of his new position.Dr. Wallar has served the Company sinceDecember 2015 as Director,Pharma Services Division throughSeptember 2016 , Senior Vice President of Sales,Pharma Services Division fromSeptember 2016 throughMay 2020 and as Senior Vice President of Sales,Clinical Services Division sinceMay 2020 . In connection with this new role, the Company andDr. Wallar entered into an employment agreement which provides thatDr. Wallar's base salary will be$370,000 per year.Dr. Wallar is also eligible to receive a performance based bonus which is targeted at up to 50% of her base salary. This bonus is contingent upon completion of specific metrics established by the Board or the Compensation Committee for such fiscal year. In the event thatDr. Wallar's performance exceeds the thresholds for the target bonus, she may be eligible to receive up to 200% of the target bonus.Dr. Wallar is entitled to participate in all medical and other benefits that the Company has established for its employees and is eligible for up to 4 weeks of paid time off per year. IfDr. Wallar is terminated without cause the Company agrees to maintain her base salary for a period of twelve months as severance. In addition,Dr. Wallar will be entitled to received her annual target bonus for the fiscal year prorated based on the date of separation. Upon appointment to this new role,Dr. Wallar was awarded an equity award valued at$250,000 , which was comprised of 1,896 shares of restricted stock subject to four year vesting, and an option to purchase 10,126 shares of the Company's common stock at an exercise price equivalent to the closing price per share at which such stock was quoted on theNASDAQ Stock Market on the date prior to the grant date. The option has a seven year term, subject to continued employment, and will vest ratably over the first four anniversary dates of the grant date.Dr. Wallar does not have any family relationships with any of the Company's other officers or directors.
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