BIOLASE CEO to Continue at Symbolic Annual Cash Salary of $1.00
IRVINE, CA, Mar 06, 2013 (MARKETWIRE via COMTEX) --
BIOLASE, Inc. (NASDAQ: BIOL), the world's leading dental laser
manufacturer and distributor, announced today that Chief Executive
Officer Federico Pignatelli will continue at a symbolic annual cash
salary of $1.00 for the year ending December 31, 2013.
Pignatelli stated, "In my continuing effort to align management's
interest with the interests of our shareholders, as it should be for
every listed Company, and so for BIOLASE, the Board of Directors has
accepted my offer to continue to serve as the CEO for a symbolic
annual cash salary of $1.00 for 2013. To reiterate what I have said
in the past, it simply makes sense to align my interest as a
shareholder with that of all shareholders, the ultimate owners of
BIOLASE. My goal is for BIOLASE to generate continued growth and
improved financial performance. As the Chairman and CEO, I will not
benefit unless our shareholders benefit. It remains my firm belief
that a CEO's compensation should be tied only to the financial
performance of the companies they lead and I invite others to follow
As of December 31, 2012, Pignatelli owned approximately 4.8% of
BIOLASE's common shares outstanding on a diluted basis, the vast
majority of which he purchased in the open market over time.
About BIOLASE, Inc.
BIOLASE, Inc. is a biomedical company that
develops, manufactures and markets dental lasers and also distributes
and markets dental imaging equipment; products that are focused on
technologies that advance the practice of dentistry and medicine. The
Company's laser products incorporate approximately 314 patented and
patent-pending technologies designed to provide biologically
clinically superior performance with less pain and faster recovery
times. Its imaging products provide cutting-edge technology at
competitive prices to deliver the best results for dentists and
patients. BIOLASE's principal products are dental laser systems that
perform a broad range of dental procedures, including cosmetic and
complex surgical applications, and a full line of dental imaging
equipment. BIOLASE has sold more than 22,000 lasers worldwide. Other
products under development address ophthalmology and other medical
and consumer markets.
For updates and information on WaterLase and laser dentistry, find
BIOLASE online at www.biolase.com, Facebook at
www.facebook.com/biolaseinc, Twitter at twitter.com/biolaseinc, and
YouTube at www.youtube.com/biolasevideos.
For further information, please contact:
In-Site Communications, Inc.
SOURCE: BIOLASE, Inc.
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