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): August 29, 2014
SUNSHINE HEART, INC.
(Exact name of registrant as specified in its charter)
Delaware (State or other jurisdiction of |
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001-35312 (Commission File Number) |
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68-0533453 (IRS Employer |
12988 Valley View Road
Eden Prairie, Minnesota 55344
(Address of principal executive offices) (Zip Code)
(952) 345-4200
(Registrants telephone number, including area code)
Not Applicable
(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:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o 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.
In a separation agreement dated August 29, 2014, Sunshine Heart, Inc. (the Company) and Patrick Verta, M.D., Chief Medical Officer of the Company, agreed upon terms relating to Dr. Vertas separation from the Company, which was effective as of August 29, 2014. Under the agreement, Dr. Verta agreed to a full release of claims and other terms. In exchange, the Company agreed, among other things, to continue paying Dr. Vertas base salary during the two months following the termination date and to credit him with an additional two months of vesting on all issued and outstanding stock options held by him. The Company also agreed to pay one hundred percent of the premiums for Dr. Vertas COBRA continuation coverage for the time period ending no later than October 31, 2014.
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.
Dated: September 3, 2014 |
SUNSHINE HEART, INC. | ||
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By: |
/S/ JEFFREY S. MATHIESEN | |
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Name: |
Jeffrey S. Mathiesen | |
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Title: |
Chief Financial Officer |