UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) January 1, 2024
_______________________________________________
RadNet, Inc.
(Exact name of registrant as specified in its charter)
| Delaware | | 001-33307 | | 13-3326724 |
(State or other jurisdiction
of incorporation) | | (Commission File Number) | | (IRS Employer Identification No.) |
| 1510 Cotner Avenue | | |
| Los Angeles, California | | 90025 |
| (Address of Principal Executive Offices) | | (Zip Code) |
Registrant’s Telephone Number, Including Area Code: (310) 478-7808
N/A
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock, $0.0001 par value | RDNT | NASDAQ Global Market |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 1, 2024, Radnet Management, Inc., a wholly-owned subsidiary of RadNet, Inc. (“RadNet”), entered into amendments to the executive employment agreements with certain members of RadNet’s executive management team including RadNet’s named executive officers. The amendments revised the annual base salary for each of the named executive officers, effective January 1, 2024, to be as follows.
| Name | Title | Annual Salary | |
| Howard G. Berger | President and Chief Executive Officer | $3,000,000 |
| | | |
| Mark D. Stolper | Executive Vice President and | $700,000 |
| | Chief Financial Officer |
| | | | |
| Stephen M. Forthuber | President and | $800,000 | |
| | Chief Operating Officer – | |
| | Eastern Operations | |
| | | | |
| Norman R. Hames | President and | $800,000 | |
| | Chief Operating Officer – | |
| | Western Operations | |
| | | | |
| Mital Patel | Executive Vice President, | $750,000 | |
| | of Financial Planning and Analysis | |
| | and Chief Administrative Officer | |
Except for the change in annual base salary, all other provisions of the executive employment agreements remain in full force and effect.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: January 5, 2024 | RadNet, Inc. | |
| | | |
| | | | |
| | By: | /s/ David J. Katz | |
| | Name: | David J. Katz | |
| | Title: | Executive Vice President, Chief Legal Officer and Secretary | |
