x

Posted 06 April, 2023

Semler Scientific, Inc. appointed new CEO

CEO Change detected for ticker Nasdaq:SMLR in a 8-K filed on 06 April, 2023.


  As previously disclosed, on March 19, 2023, Douglas Murphy-Chutorian notified Semler Scientific, Inc., or Semler, that he intended to resign as chief executive officer and that in connection therewith, Semler intended to enter into a separation agreement to provide for certain severance and other termination benefits in recognition of his years of service and contributions to Semler.  

Don't how to trade CEO change? Read Reasons for CEO Turnover and Effect on Stock Performance.
Overview of Semler Scientific, Inc.
Health Care/Life Sciences • Medical Equipment/Supplies
Semler Scientific, Inc. engages in the provision of technology and software solutions to improve the clinical effectiveness of healthcare providers. Its multi-test service platform, WellChec, comprehensively evaluates its customers’ patients for chronic disease, including heart attacks and strokes, using its QuantaFlo product as well as other tests. The company was founded by Herbert J. Semler, Guinasso Cindy and Shirley L. Semler on August 9, 2007 and is headquartered in Santa Clara, CA.
Market Cap
$336M
View Company Details
Semler Scientific, 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.

As previously disclosed, on March 19, 2023, Douglas Murphy-Chutorian notified Semler Scientific, Inc., or Semler, that he intended to resign as chief executive officer and that in connection therewith, Semler intended to enter into a separation agreement to provide for certain severance and other termination benefits in recognition of his years of service and contributions to Semler. Accordingly, on April 1, 2023, Semler and Dr. Murphy-Chutorian entered into a separation agreement and release, to provide for the following: (i) $450,000 in severance payments payable monthly for 12-months commencing 30 days after his last day of employment (which will be May 1, 2023); (ii) up to nine months of COBRA reimbursement; (iii) the extension of his post-termination exercise period to the original expiration date for his outstanding options, all of which are fully vested; and (iv) Semler's agreement to enter into a warrant repurchase agreement (the form of which was included with his separation and release agreement). The form of warrant repurchase agreement will be entered into on a date to be mutually agreed between Dr. Murphy-Chutorian and Semler but prior to July 31, 2023, and provides that Semler will repurchase outstanding warrants held by Dr. Murphy-Chutorian to acquire 16,875 shares of Semler's common stock at $4.00 per share at a price to be based on the fair market value of the underlying shares on the date of such warrant repurchase net of the aggregate exercise price of the warrants (or $67,500). The Effective Date of the separation agreement and release will be April 9, 2023, assuming neither party revokes. 

Semler intends to file a copy of Dr. Murphy-Chutorian's separation agreement and release (including the form of warrant repurchase agreement) as an exhibit to its Quarterly Report on Form 10-Q for the three months ended June 30, 2023.