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)
August 24, 2021
SHARPS COMPLIANCE CORP.
Commission File No. 001-34269
(Exact Name Of Registrant As Specified In Its Charter)
| | | | | |
| Delaware | 74-2657168 |
(State Or Other Jurisdiction Of
Incorporation Or Organization) |
(IRS Employer Identification No.) |
9220 Kirby Drive, Suite 500
Houston, Texas 77054
(Address Of Principal Executive Offices)
Registrant’s Telephone Number, Including Area Code)
713-432-0300
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:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR240.14d-2(b))
o 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 | Name of Each Exchange on Which Registered |
| Common Shares, $0.01 Par Value | SMED | The NASDAQ Stock Market LLC |
Indicate by check mark whether the registrant is a 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. ☐
TABLE OF CONTENTS
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Agreements of Certain Officers.
Item 9.01 Financial Statement and Exhibits.
SIGNATURES
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Executive Officer Cash Bonuses and Stock Option Awards
On August 24, 2021, the Compensation Committee of the Board of Directors of Sharps Compliance Corp. (the "Company", "Sharps" or "we") (“Compensation Committee”) approved the following cash bonuses and stock option awards for certain named executive officers under the pre-existing Executive Compensation and Incentive Plan ("ECIP") for fiscal year 2021.
| | | | | | | | |
| Officer | Cash Bonuses | Stock Options |
| David P. Tusa, Chief Executive Officer and President | $ | 120,000 | | 102,400 | |
| Diana P. Diaz, Executive Vice President and Chief Financial Officer | $ | 118,750 | | 51,200 | |
| Gregory C. Davis, Vice President of Operations | $ | 48,790 | | 25,600 | |
| Dennis P. Halligan, Vice President of Sales and Marketing | $ | 41,800 | | 25,600 | |
| Other Employees | $ | — | | 64,000 | |
The stock options were granted under a shareholder approved stock plan and will vest over a four year period. (25% per year). The exercise price of the options is equal to the quoted end of trading day market price of the underlying common stock at May 18, 2020 which on August 20, 2021, was $8.86 per share. The Plan was approved by the Compensation Committee on May 18, 2020 and modified on April 8, 2021.
Item 9.01. Financial Statements and Exhibits.
None
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 thereunto duly authorized.
| | | | | |
Date: August 25, 2021 | SHARPS COMPLIANCE CORP. |
| | | | | |
| By: /s/ DIANA P. DIAZ |
| Diana P. Diaz |
| Executive Vice President and Chief Financial Officer |
