SHARPS COMPLIANCE CORP FILES (8-K) Disclosing Change in Directors or Principal Officers, Financial Statements and Exhibits
(Edgar Glimpses Via Acquire Media NewsEdge) Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Item 5.02(c). Appointment of Certain Officers:
On October 23, 2013, the Company announced the appointment of Brandon Beaver as
Senior Vice President of Sales. Mr. Beaver has been a key member of the sales
force of the Company for over three years and is directly responsible for
closing and/or managing key customer accounts totaling over $5.4 in annual
revenue. Mr. Beaver has been in the health care industry in varying sales and
sales and marketing leadership roles for nearly 20 years. Prior to joining
Sharps in 2010, he was the Executive Vice President of Sales and Marketing at
AIMS/Allied Care, a third party administrator and managed care company. He is a
graduate of Portland State University with a Bachelor of Science degree in
A copy of the press release issued by the Company regarding the above
appointment is attached hereto as Exhibit 99.1.
Mr. Beaver executed a letter agreement with the Company, pursuant to which he
agreed to serve as the Senior Vice President of Sales of the Company effective
on October 21, 2013. The offer letter provides that Mr. Beaver will receive an
annual base salary of $210,000 (payable at the bi-weekly rate of $8,076.92). In
connection with the appointment, Mr. Beaver received an option to purchase
100,000 shares of the Company's common stock under the Sharps Compliance Corp.
2010 Stock Plan. The option has a seven (7) year term and vests at the rate of
25% per year (at each of the first four anniversary dates). The exercise price
of the option is the closing price on the date of the grant which is $3.01 per
Item 5.02(e). Compensatory Arrangements of Certain Officers.
The information set forth in Item 5.02(c) above regarding the compensation
arrangements are hereby incorporated by reference.
Item 5.02(b). Departure of Directors or Certain Officers.
On October 23, 2013, the Company announced Berkley Nelson, the former Senior
Vice President of Sales, has departed the Company to pursue other opportunities.
Item 9.01. Financial Statements and Exhibits.
Exhibit No. Description
10.1 Letter Agreement between Sharps Compliance, Inc. and Brandon Beaver
effective October 21, 2013.
99.1 Sharps Compliance Announces New Leadership for Sales Team
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