0001096906-16-001928.txt : 20160930 0001096906-16-001928.hdr.sgml : 20160930 20160930083017 ACCESSION NUMBER: 0001096906-16-001928 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20160926 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20160930 DATE AS OF CHANGE: 20160930 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DYNATRONICS CORP CENTRAL INDEX KEY: 0000720875 STANDARD INDUSTRIAL CLASSIFICATION: ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845] IRS NUMBER: 870398434 STATE OF INCORPORATION: UT FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-12697 FILM NUMBER: 161911342 BUSINESS ADDRESS: STREET 1: 7030 PARK CENTRE DRIVE STREET 2: BLDG D CITY: SALT LAKE CITY STATE: UT ZIP: 84121 BUSINESS PHONE: 8015687000 MAIL ADDRESS: STREET 1: 7030 PARK CENTER DR CITY: SALT LAKE CITY STATE: UT ZIP: 84121 FORMER COMPANY: FORMER CONFORMED NAME: DYNATRONICS LASER CORP DATE OF NAME CHANGE: 19920703 8-K 1 dynatronics.htm 8K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 26, 2016
DYNATRONICS CORPORATION
(Exact name of registrant as specified in its charter)
 
Utah
0-12697
87-0398434
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification Number)
 
7030 Park Centre Drive, Cottonwood Heights, Utah 84121
(Address of principal executive offices)  (Zip Code)

Registrant's telephone number, including area code: (801) 568-7000

______________________________________________________________________________
(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 


Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(c) Appointment of New Principal Financial Officer.  On Monday, September 26, 2016, Dynatronics Corporation ("Registrant") appointed David Alma Wirthlin, 55, as its new Chief Financial Officer, replacing Terry M. Atkinson.  Mr. Atkinson will continue with the Registrant as Director of Accounting.  Mr. Wirthlin's most recent employment was with ArmorWorks Enterprises, LLC, a privately-held military armor technology company located in Arizona, where he served in several capacities.  He served as Chief Financial Officer of ArmorWorks from June 2004 until January 2016, and most recently was a consultant on a contract basis to the company.  Mr. Wirthlin had previously served as Chief Financial Officer for Integrated Information Systems, Inc. and SkyMall, Inc. where he led the initial public offering process for each company and subsequently was directly responsible for all SEC related functions.  He also brings with him seven years of public accounting and consulting experience from his time at Arthur Andersen LLP.

Mr. Wirthlin's employment with the Registrant will begin on October 11, 2016.  His compensation package as an at will employee will include a base salary of $165,000 per year, payable in equal installments bi-weekly, with an increase in the annual base amount to $175,000 per year effective March 1, 2017.  In addition, within six months following the date of hiring, Mr. Wirthlin will be granted options to purchase 24,000 shares of common stock of the Registrant under the Registrant's equity incentive award plan, vesting in four equal installments, 25% annually beginning on the first anniversary of the date of grant.  The Registrant will also reimburse Mr. Wirthlin up to $7,500 in relocation and commuting expense to facilitate his move from Arizona to Utah.

Mr. Wirthlin holds an MBA from the University of Chicago and a BS in Accounting from the University of Utah.  He is a CPA in the State of Utah (1987, Inactive status).

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

99.1            Press Release, dated September 30, 2016, announcing appointment of new Chief Financial Officer


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 hereunto duly authorized.

DYNATRONICS CORPORATION




By: /s/ Kelvyn H. Cullimore, Jr.
Kelvyn H. Cullimore, Jr.
Chairman and President


Date: September 30, 2016
 
 


EX-99.1 2 exh99_1.htm PRESS RELEASE, DATED SEPTEMBER 30, 2016, ANNOUNCING APPOINTMENT OF NEW CHIEF FINANCIAL OFFICER
Exhibit 99.1


fa




Dynatronics Welcomes David A. Wirthlin as Its New Chief Financial Officer


COTTONWOOD HEIGHTS, UT (September 30, 2016) – Dynatronics Corporation (NASDAQ:DYNT) announced today the appointment of David A. Wirthlin as Chief Financial Officer (CFO), effective October 11, 2016.  Wirthlin will succeed Terry M. Atkinson and will report to Dynatronics' CEO Kelvyn H. Cullimore, Jr.  Mr. Atkinson will continue with Dynatronics as Director of Accounting.

Today's announcement concludes an extensive search process conducted by the company as it continues to execute on its strategic plans and initiatives.  Atkinson will continue to serve an important role at Dynatronics, and the company will ensure a seamless succession of responsibilities with this reorganization.

For 12 years, Wirthlin was Chief Financial Officer of ArmorWorks Enterprises, LLC, a privately-held military armor technology company located in Arizona, from June 2004 until January 2016.  Most recently, Wirthlin worked for ArmorWorks as a consultant on a contract basis.  Mr. Wirthlin previously served as Chief Financial Officer for Integrated Information Systems, Inc. and SkyMall, Inc. where he led the initial public offering process for each company and subsequently was directly responsible for all SEC related functions.  He also brings seven years of public accounting and consulting experience from his time at Arthur Andersen in San Francisco and Salt Lake City.

In his role as Dynatronics' CFO, Wirthlin will serve on the company's executive management team and be responsible for leading the Dynatronics finance organization and key supporting functions, including treasury, controller, tax, and internal audit.  He will also play a key role in the diligence and integration of merger and acquisition candidates.

"David's deep expertise and experience as both a private and public company CFO brings significant depth to the Dynatronics' management team," said Kelvyn H. Cullimore, Jr., Dynatronics' Chairman and CEO.  "Given David's extensive background across all of the major disciplines within finance, and his direct experience as a CFO for the past 20 years, I am confident in his ability to lead our finance organization and believe he will be a strong representative to the investor community.  I look forward to the ideas and perspectives he will bring to Dynatronics."

"I am very pleased to join Dynatronics," said Wirthlin.  "This is a company with a longstanding reputation for excellence in the physical medicine industry.  I am excited to join the management team and contribute to the success of the business at such a transformative time for the company."

Dynatronics manufactures, markets and distributes advanced-technology medical devices, orthopedic soft goods and supplies, treatment tables and rehabilitation equipment for the physical therapy, sports medicine, chiropractic, podiatry and related markets.

Contacts:

Dynatronics Corporation
Investor Relations
Jim Ogilvie
(801) 727-1755
jim.ogilvie@dynatronics.com
 

 


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