IRADIMED CORP : Change in Administrators or Principal Officers, Monetary Statements and Reveals (type 8-Ok)

Merchandise 5.02 Departure of Administrators or Sure Officers; Election of
Administrators; Appointment of Sure Officers; Compensatory Preparations of Sure
Officers.

Appointment of Chief Monetary Officer

On Might 26, 2022, iRadimed Company (the “Firm”) issued a press launch
saying the appointment of John (Jack) Glenn as Chief Monetary Officer of
the Firm, efficient on or earlier than June 20, 2022. Mr. Glenn will assume
accountability for all areas of accounting and finance, together with enterprise
planning and modeling, organizational useful resource planning, investor and analyst
relations, and required reporting and associated filings with the Securities and
Alternate Fee.

Mr. Glenn, 60, is a Monetary Government with over 30 years of expertise
directing company finance actions of private and non-private firms with an
established file in considerably rising enterprise worth. Mr. Glenn involves
the Firm from Esko Bionics Holdings, Inc., a developer of exoskeleton
options that amplify human potential by supporting or enhancing power,
endurance, and mobility throughout medical and industrial purposes, the place he
served as Chief Monetary Officer from 2018 to 2022. Earlier than Esko Bionics, Mr.
Glenn served as Chief Monetary Officer for Sonendo, Inc., a privately-held,
venture-backed firm from 2016 to 2017. His prior expertise additionally consists of
serving as Chief Monetary Officer at a number of different firms, together with
Armetheon Company, a privately-held biopharmaceutical firm from 2015 to
2016; Solta Medical, the place he assisted within the firm’s strategic acquisition by
Valeant Pharmaceutical; Cholestech, which was acquired by Alere Medical; and
Invivo Company, which was bought to Intermagnetics Normal Company. Mr.
Glenn acquired his MBA in Finance from Santa Clara College and his B.S. in
Enterprise Administration from the College of Nevada.

There are not any preparations or understandings between Mr. Glenn and some other
individuals pursuant to which he was chosen as an officer of the Firm. Mr.
Glenn is the brother-in-law of James Hawkins, a member of our Board of
Administrators. In any other case, there are not any household relationships between Mr. Glenn and
any director or govt officer of the Firm. Mr. Glenn has no direct or
oblique materials curiosity in any associated occasion transaction required to be
disclosed pursuant to Merchandise 404(a) of Regulation S-Ok.

The Firm has entered into an employment settlement with Mr. Glenn, dated as of
Might 21, 2022, in reference to Mr. Glenn’s appointment as Chief Monetary
Officer (the “Employment Settlement”). Pursuant to his employment settlement, Mr.
Glenn’s wage might be $340,000 per yr and he’s eligible for an annual bonus
of fifty% of his wage, which quantity could also be adjusted based mostly on the general
profitability of the Firm and his particular person efficiency. Upon his rent date, Mr. Glenn will obtain a grant of restricted inventory models totaling $750,000 in
worth utilizing the Firm’s closing inventory worth on the day previous his rent
date. Mr. Glenn’s restricted inventory models might be in accordance with the phrases of
the Firm’s 2014 Fairness Incentive Plan and can vest in 4 equal annual
installments. Upon vesting, Mr. Glenn will obtain various shares of widespread
inventory equal to the variety of restricted inventory models which have vested. The
employment settlement continues till terminated by us or by Mr. Glenn in
accordance with the phrases of the settlement. If Mr. Glenn is terminated by us
with out trigger or he terminates his employment with us for good purpose, every as
outlined below the settlement, we should pay him an quantity equal to 12 (12)
months base wage. Within the occasion that we’re concerned in a change of management
transaction, which typically means the switch of possession of greater than 50% of
our shares, and Mr. Glenn terminates his employment with us for good purpose, we
should pay him an quantity equal to eighteen (18) months of his then-current annual
wage. The settlement additionally accommodates non-solicitation, non-compete and
confidentiality provisions.

This abstract description is certified in its entirety by reference to the
employment settlement between the Firm and Mr. Glenn, which is filed as
Exhibit 10.1 to this Present Report on Type 8-Ok and is integrated herein by
reference.

The complete textual content of the press launch saying Mr. Glenn’s appointment is
included in Exhibit 99.1 to this report.

Merchandise 9.01         Monetary Statements and Reveals.

(d) Reveals

  10.1     Employment Settlement, dated as of Might 21, 2022 by and between Iradimed
         Company and John (Jack) Glenn.

  99.1     Press launch dated Might 26, 2022.

104      Cowl Web page Interactive Information File (formatted in Inline XBRL and contained
         in Exhibit 101)

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