UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Result of Operations and Financial Condition.
On February 13, 2023, Outset Medical, Inc. (the “Company”) issued a press release and will hold its fourth quarter and full year 2022 earnings conference call announcing the Company’s financial results for the quarter and year ended December 31, 2022. A copy of the press release is furnished herewith as Exhibit 99.1 and incorporated herein by reference.
The information contained in this Item 2.02 and Exhibits 99.1 hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any other filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Item 5.02 Departure of Directors of Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 13, 2023, Martin Vazquez informed the Company of his decision to retire from his role as Chief Operating Officer of the Company effective April 3, 2023 to pursue personal opportunities. Mr. Vazquez’s departure was not due to any dispute or disagreement with the Company or its management. We expect Mr. Vazquez to enter into a consulting arrangement with the Company to provide certain consulting services for a minimum of six months following the effective date of his resignation. The Compensation Committee of the Company’s Board of Directors also took action to provide that if Mr. Vazquez successfully completes the term of the consulting arrangement described above, then the unvested portion of certain stock options granted to Mr. Vazquez on February 3, 2020 to purchase 72,151 shares of common stock of the Company, and having an exercise price of $8.62 per share, will become fully vested and exercisable. If earned, the number of option grant shares subject to accelerated vesting will be approximately 6,013 shares.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
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99.1 |
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104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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Outset Medical, Inc.
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Date: February 13, 2023 |
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By: |
/s/Nabeel Ahmed |
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Nabeel Ahmed |
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Chief Financial Officer |