CEO transition: Caren Mason retires, Tom Frinzi appointed; Q4 net sales guidance $64M-$66M

STAAR SURGICAL CO

CEO Caren Mason retires Dec 31, 2022; Board Chair Tom Frinzi becomes CEO effective Jan 1, 2023.
Mason to serve as advisor through Dec 2023 at $100k/month and eligible for 2022 cash bonus.
Frinzi receives $820k base salary, 105% target bonus, and $9M initial equity grant (options & RSUs).
Board reduces to 6 members; Stephen Farrell named Lead Independent Director effective Jan 1, 2023.
Company expects Q4 2022 net sales in the range of $64M to $66M.

item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Caren Mason

President and Chief Executive Officer

STAA · STAAR SURGICAL CO

Effective: 2022-12-31
Successor: Thomas G. Frinzi
Filed: December 19, 2022, 6:59 PM ET

Ms. Caren Mason, President and Chief Executive Officer of the Company, has elected to retire as CEO and a member of the Company’s Board of Directors (the “Board”), effective December 31, 2022

Appointed

Thomas G. Frinzi

Chief Executive Officer

STAA · STAAR SURGICAL CO

Effective: 2023-01-01
Filed: December 19, 2022, 6:59 PM ET

the Company announced that the Board elected Thomas G. Frinzi, currently Chair of the Board, to succeed Ms. Mason as CEO, effective January 1, 2023

Appointed

Stephen Farrell

Lead Independent Director

STAA · STAAR SURGICAL CO

Filed: December 19, 2022, 6:59 PM ET

the Board announced creation of the role of Lead Independent Director and appointed Mr. Stephen Farrell, Chair of the Audit Committee, to serve in that capacity

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Caren Mason retired as President and Chief Executive Officer at STAAR SURGICAL CO.

Action: retired
Role: President and Chief Executive Officer

Exact text from the filing

Ms. Caren Mason, President and Chief Executive Officer of the Company, has elected to retire as CEO and a member of the Company’s Board of Directors (the “Board”), effective December 31, 2022

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Thomas G. Frinzi was appointed as Chief Executive Officer at STAAR SURGICAL CO.

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

the Company announced that the Board elected Thomas G. Frinzi, currently Chair of the Board, to succeed Ms. Mason as CEO, effective January 1, 2023

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Stephen Farrell was appointed as Lead Independent Director at STAAR SURGICAL CO.

Action: appointed
Role: Lead Independent Director

Exact text from the filing

the Board announced creation of the role of Lead Independent Director and appointed Mr. Stephen Farrell, Chair of the Audit Committee, to serve in that capacity

View on SEC.gov

STAAR SURGICAL CO filing history →

Source: SEC EDGAR

accession 0001564590-22-039439

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