OraSure CEO Stephen S. Tang to depart March 31, 2022; gets severance of $1.57M plus equity

ORASURE TECHNOLOGIES INC

CEO Stephen Tang's termination without cause effective March 31, 2022; transition period through that date.
Tang receives lump sum severance of $1,569,614 (18 months salary plus target bonus).
50% of unvested time-based RSUs and PVRUs vest at termination; 2022 LTIP award of $834,909 vests at end.
Lisa Nibauer becomes President of Diagnostics; salary raised to $460,000 and bonus target to 50%.
Kathleen G. Weber becomes President of Molecular Solutions; salary raised to $460,000 and bonus target to 50%.

item 5.02 item 9.01

Executive movements

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Departed

Stephen S. Tang

President and Chief Executive Officer

OSUR · ORASURE TECHNOLOGIES INC

Effective: 2022-03-31
Filed: January 6, 2022, 6:59 PM ET

Stephen S. Tang, the Company’s President and Chief Executive Officer, will be leaving the Company as of March 31, 2022.

Role change

Lisa Nibauer

President of Diagnostics

OSUR · ORASURE TECHNOLOGIES INC

Effective: 2021-12-31
Filed: January 6, 2022, 6:59 PM ET

Effective as of December 31, 2021, Lisa Nibauer, the Company’s current Executive Vice President, Business Unit Leader, Diagnostics, will become President of Diagnostics.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Stephen S. Tang departed as President and Chief Executive Officer at ORASURE TECHNOLOGIES INC.

Action: leaving
Role: President and Chief Executive Officer

Exact text from the filing

Stephen S. Tang, the Company’s President and Chief Executive Officer, will be leaving the Company as of March 31, 2022.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Lisa Nibauer changed role as President of Diagnostics at ORASURE TECHNOLOGIES INC.

Action: promoted
Role: President of Diagnostics

Exact text from the filing

Effective as of December 31, 2021, Lisa Nibauer, the Company’s current Executive Vice President, Business Unit Leader, Diagnostics, will become President of Diagnostics.

View on SEC.gov

ORASURE TECHNOLOGIES INC filing history →

Source: SEC EDGAR

accession 0000950170-22-000095

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