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    OTRK   US6833731044

ONTRAK, INC.

(OTRK)
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Real-time Estimate Cboe BZX  -  12:29 2022-08-18 pm EDT
0.7420 USD   -3.70%
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ONTRAK, INC. : Change in Directors or Principal Officers, Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K)

06/28/2022 | 11:47am EDT

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Chief Executive Officer Transition

On June 24, 2022, Chief Executive Officer Jonathan Mayhew gave notice of his resignation. His resignation will be effective August 12, 2022.

On June 27, 2022, the Board of Directors (the "Board") of Ontrak, Inc. (the "Company") appointed Terren S. Peizer, age 62, the Company's current Executive Chairman, as Chief Executive Officer of the Company, effective August 12, 2022. Mr. Peizer was not appointed as the Company's Chief Executive Officer pursuant to any arrangement or understanding with any other person, and Mr. Peizer has no family relationships with any current director, director nominee, or executive officer of the Company. Mr. Peizer's biographical information is contained in the Company's Form 10-K filed with the Securities and Exchange Commission on April 15, 2022 (the "Form 10-K"). The Company and an affiliate of Mr. Peizer are party to a Master Note Purchase Agreement, also known as "Keep Well Agreement," the terms of which are described in the Form 10-K.

Appointment of Brandon H. LaVerne as Co-President and Chief Operating Officer

On June 27, 2022, the Board appointed Brandon H. LaVerne, age 50, as Co-President and Chief Operating Officer of the Company, effective immediately. Mr. LaVerne has served as the Company's Chief Financial Officer from March 2020 until the date of his promotion, at which time the office of Chief Financial Officer was transitioned to James J. Park (see discussion below). Mr. LaVerne's biographical information is contained in the Company's Form 10-K. Mr. LaVerne was not appointed as the Company's Co-President and Chief Operating Officer pursuant to any arrangement or understanding with any other person, and Mr. LaVerne has no family relationships with any current director, director nominee, or executive officer of the Company.

Appointment of Mary Louise Osborne as Co-President

On June 27, 2022, the Board appointed Mary Louise Osborne, age 61, as Co-President of the Company, effective immediately. Ms. Osborne will continue to serve as the Company's Chief Customer Officer, a position she has held since August 2021. Ms. Osborne's biographical information is contained in the Company's Form 10-K. Ms. Osborne was not appointed as the Company's Co-President pursuant to any arrangement or understanding with any other person, and Ms. Osborne has no family relationships with any current director, director nominee, or executive officer of the Company.

Appointment of James J. Park as Chief Financial Officer

On June 27, 2022, the Board appointed James J. Park, age 45, as Chief Financial Officer of the Company, effective immediately. Mr. Park replaces Brandon H. LaVerne as the Company's Chief Financial Officer. Mr. Park will continue to serve as the Company's Chief Accounting Officer, a position he has held since September 2019. Mr. Park's biographical information is contained in the Company's Form 10-K. Mr. Park was not appointed as the Company's Chief Financial Officer pursuant to any arrangement or understanding with any other person, and Mr. Park has no family relationships with any current director, director nominee, or executive officer of the Company.

Item 7.01 Regulation FD Disclosure.

On June 28, 2022, the Company issued a press release announcing the resignation of Jonathan Mayhew, the appointment of Terren S. Peizer as Chief Executive Officer following Mr. Mayhew's departure, the appointment of Brandon H. LaVerne as Co-President and Chief Operating Officer, the appointment of Mary Louise Osborne as Co-President, and the appointment of James J. Park as Chief Financial Officer. A copy of the press release is attached as Exhibit 99.1 hereto and incorporated by reference into this Item 7.01.






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Item 9.01 Financial Statements and Exhibits.

(d) Exhibits


99.1     Press release dated June 28, 2022.
104    Cover Page Interactive Data File (formatted as inline XBRL).

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