Company: STAA
Filing Date: 2025-04-24
Form Type: 8-K
Source: 0000950170-25-058173
Chunk: 1

Company: STAAR SURGICAL CO
Filing Date: 2025-04-24
Form: 8-K
Item: Item 5.02
Chunk 1
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 the Board of Oncocyte Corporation (NASDAQ: OCX) since November 2022. Since March 2025, Mr. Silverman has also served as a member of the Board of Veradigm Inc. (OTCMKTS: MDRX). Mr. Silverman earned a B. A. from Amherst College and an M. B. A. from Harvard Business School.

The appointment of Mr. Silverman to the Board was not the result of any arrangement or understanding with any other person or entity. There are no transactions between Mr. Silverman, nor any member of his immediate family, and the Company or any of its subsidiaries.

In connection with the appointment of Mr. Silverman to the Board, the Board approved an increase in the size of the Board from six (6) directors to seven (7) directors. In addition, the Board voted to provide Mr. Silverman with the standard director compensation for a non-employee director. Mr. Silverman’s compensation will be pro-rated for the remaining portion of the 2024-2025 term, which will continue through the date of the 2025 Annual Meeting.

Following the appointment of Mr. Silverman to the Board, the Board currently consists of seven directors, and the term of service for each director will expire at the 2025 Annual Meeting. Ms. Weisner notified the Company that she has chosen not to stand for re-election when her term expires at the 2025 Annual Meeting. Ms. Weisner’s decision not to stand for re-election was not due to any disagreement with the Company on any matters relating to the Company’s operations, policies or practices. The Board voted to nominate for election to the Board at the 2025 Annual Meeting incumbent directors Arthur C. Butcher, Stephen C. Farrell, Wei Jiang, Elizabeth Yeu, M. D., and Lilian Y. Zhou, and newly appointed director, Louis E. Silverman. In addition, the Board voted to reduce the size of the Board from seven (7) directors to six (6) directors upon the expiration of Ms. Weisner’s term as a director at the 2025 Annual Meeting.

In addition, effective as of the Effective Date, the Company entered into a consulting agreement with Mr. Jiang to serve as a special strategic advisor to the Company’s Asia Pacific business through the end of fiscal 2025, in the temporary role of Chief of APAC Strategy. Mr. Jiang has over 25 years of China business and operational