x

Posted 14 July, 2022

Hyperfine, Inc. appointed R. Scott Huennekens as new CEO

Nasdaq:HYPR appointed new Chief Executive Officer R. Scott Huennekens in a 8-K filed on 14 July, 2022.


  As previously disclosed, on June 29, 2022, the Board of Directors (the "Board") of Hyperfine, Inc. (the "Company") appointed R. Scott Huennekens as Interim President and Chief Executive Officer of the Company, effective as of July 29, 2022.  

Don't how to trade CEO change? Read Reasons for CEO Turnover and Effect on Stock Performance.
Overview of Hyperfine, Inc.
Health Care/Life Sciences • Medical Equipment/Supplies
Hyperfine, Inc. is a medical device development company, which engages in providing imaging and monitoring through magnetic resonance imaging to revolutionize healthcare for people. It also develops imaging of health conditions through its Swoop portable magnetic resonance. The company was founded by Jonathan M. Rothberg and Ronald Walsworth on February 25, 2014 and is headquartered in Guilford, CT.
Market Cap
$75.6M
View Company Details
Hyperfine, Inc. by TradingView
Relevant filing section
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. 

Interim President and Chief Executive Officer Compensation 

As previously disclosed, on June 29, 2022, the Board of Directors (the "Board") of Hyperfine, Inc. (the "Company") appointed R. Scott Huennekens as Interim President and Chief Executive Officer of the Company, effective as of July 29, 2022. Mr. Huennekens currently serves as Executive Chairperson of the Board. 

On July 8, 2022, the Board approved the terms of compensation to be granted to Mr. Huennekens for his service as Interim President and Chief Executive Officer. Mr. Huennekens will be compensated in the amount of $30,000 per month, effective as of July 1, 2022, until a new President and Chief Executive Officer is duly appointed and qualified (the "Huennekens Interim Compensation"). In addition, Mr. Huennekens will continue to be entitled to an annual cash retainer fee of $50,000, an annual equity grant and the reimbursement of expenses for his service as a non-employee director in accordance with the Company's Nonemployee Director Compensation Policy. 

Termination of Consulting Agreement 

In connection with the Board's approval of the Huennekens Interim Compensation, on July 8, 2022, the Company terminated the Consulting Agreement, dated as of April 25, 2021, by and between Hyperfine Operations, Inc., a wholly-owned subsidiary of the Company, and Mr. Huennekens (the "Consulting Agreement"), effective June 30, 2022. Under the Consulting Agreement, Mr. Huennekens was entitled to payment of $10,000 per month for his service as Executive Chairperson.