secwatch.observer — SEC 8-K summary
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Issuer:     PSYCHEMEDICS CORP (PMDI)
CIK:        0000806517
Form:       8-K
Filed at:   2023-02-16T23:59:59+00:00
Accession:  0001171843-23-001033
Event type: other
Sentiment:  neutral
Materiality: 0.20
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Psychemedics approves 2023 cash bonus plans for executives
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- Compensation committee approved 2023 cash bonus arrangements for CEO, EVP, VP Lab Ops, and Controller.
- Participants (excluding EVP) can earn up to 25% of base salary based on revenue, earnings, and individual goals.
- EVP target is 20% base salary on revenue goal and 5% on earnings goal.
- Committee retains right to withdraw, amend, or terminate bonus arrangements at any time.
- Post-year-end CEO review will assess individual goal achievement for other participants.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/806517/000117184323001033/0001171843-23-001033-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/806517/000117184323001033/f8k_021623.htm
  HTML page:      https://secwatch.observer/filing/0001171843-23-001033

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer