MiMedx appoints Todd Newton as Interim CEO; former CEO Wright receives $3.1M severance

MIMEDX GROUP, INC.

K. Todd Newton named interim CEO effective Sept 14, 2022; monthly salary of $54,166.67.
Newton receives 200,000 RSUs vesting on one-year anniversary or earlier upon certain events.
Former CEO Timothy Wright receives $3,105,000 severance (24 months salary + 2x bonus).
Wright will provide consulting services at $500/hour up to 8 hours per week post-termination.
Newton to continue as Board member after interim CEO role; eligibility for 2023 equity incentive.

item 5.02 item 9.01

Executive movements

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Appointed (interim)

K. Todd Newton

Interim Chief Executive Officer

MDXG · MIMEDX GROUP, INC.

Effective: 2022-09-14
Filed: September 16, 2022, 7:59 PM ET

On September 14, 2022, MiMedx Group, Inc. (the “Company”) entered into an Interim Executive Employment Agreement (“Employment Agreement”) with K. Todd Newton, which provides for the following compensation in connection with Mr. Newton’s service as Interim Chief Executive Officer

Departed

Timothy R. Wright

Chief Executive Officer

MDXG · MIMEDX GROUP, INC.

Effective: 2022-09-03
Filed: September 16, 2022, 7:59 PM ET

On September 15, 2022, the Company entered into a Separation Agreement and General Release with Timothy R. Wright, the former Chief Executive Officer of the Company

Key facts

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Executive change SEC 8-K Item 5.02 confidence 1.0

K. Todd Newton was appointed as Interim Chief Executive Officer at MIMEDX GROUP, INC..

Action: appointed
Role: Interim Chief Executive Officer

Exact text from the filing

On September 14, 2022, MiMedx Group, Inc. (the “Company”) entered into an Interim Executive Employment Agreement (“Employment Agreement”) with K. Todd Newton, which provides for the following compensation in connection with Mr. Newton’s service as Interim Chief Executive Officer

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

Timothy R. Wright departed as Chief Executive Officer at MIMEDX GROUP, INC..

Action: separated
Role: Chief Executive Officer

Exact text from the filing

On September 15, 2022, the Company entered into a Separation Agreement and General Release with Timothy R. Wright, the former Chief Executive Officer of the Company

View on SEC.gov

MIMEDX GROUP, INC. filing history →

Source: SEC EDGAR

accession 0001193125-22-246472

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