8-K
filed October 11, 2023, 7:59 PM ET
CIK 0001770141
leadership
confidence high
sentiment negative
materiality 0.75
UpHealth replaces CEO Martin Beck, cuts 20 roles after Needham judgment
UpHealth, Inc.
- Samuel Meckey terminated as CEO effective Oct 6, 2023; Martin Beck (former CFO) appointed CEO and Class I director.
- Jay Jennings, former Chief Accounting Officer, promoted to CFO effective Oct 9, 2023.
- Company eliminating 20 corporate-level positions to mitigate financial impact of a summary judgment in favor of Needham & Company.
- The Needham judgment was granted by a New York trial court on Sep 14, 2023; company plans to appeal.
- Martin Beck will continue to receive his previously disclosed compensation; no changes to his employment terms.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Jay Jennings was appointed as Chief Financial Officer at UpHealth, Inc..
- Action
- appointed
- Role
- Chief Financial Officer
Exact text from the filing
appointed Jay Jennings, the Company’s Chief Accounting Officer (which role did not make Mr. Jennings the principal accounting officer of the Company as Mr. Beck has previously served as both the principal financial officer and the principal accounting officer), to replace Mr. Beck as the Chief Financial Officer of the Company, effective immediately
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Martin Beck was appointed as Chief Executive Officer at UpHealth, Inc..
- Action
- appointed
- Role
- Chief Executive Officer
Exact text from the filing
On October 5, 2023, the Board appointed Martin Beck, the Company’s Chief Financial Officer, to serve as the Chief Executive Officer of the Company effective upon the termination of Mr. Meckey as Chief Executive Officer.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Martin Beck departed as Chief Financial Officer at UpHealth, Inc..
- Action
- no longer serve
- Role
- Chief Financial Officer
Exact text from the filing
the Board determined that Mr. Beck would no longer serve as the Company’s Chief Financial Officer
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Samuel J. Meckey resigned as Class I director at UpHealth, Inc..
- Action
- resigned
- Role
- Class I director
Exact text from the filing
Mr. Meckey informed the Board that, in accordance with the terms of his Amended and Restated Employment Agreement, he is resigning from his position as a Class I director of the Company, effective immediately.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Samuel J. Meckey was terminated as Chief Executive Officer at UpHealth, Inc..
- Action
- terminated
- Role
- Chief Executive Officer
Exact text from the filing
On October 6, 2023, UpHealth, Inc. (the “Company”) notified Samuel J. Meckey that pursuant to a decision made by t he Board of Directors (the “Board”) on October 5, 2023, his service as the Chief Executive Officer of the Company was terminated, effective immediately
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Martin Beck was appointed as Class I director at UpHealth, Inc..
- Action
- appointed
- Role
- Class I director
Exact text from the filing
the Board appointed Mr. Beck, the Company’s new Chief Executive Officer, to serve as a Class I director.
View on SEC.gov
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