Company: STAA
Filing Date: 2025-03-18
Form Type: 8-K
Source: 0000950170-25-040620
Chunk: 2

Company: STAAR SURGICAL CO
Filing Date: 2025-03-18
Form: 8-K
Item: Item 5.02
Chunk 2
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 three years from 1991 to 1994 as an accountant for KPMG. Ms. Andrews holds a B. S. degree in accounting from California State University at San Bernardino.

Ms. Andrews has no family relationship to the Company nor to any of its directors or executive officers, and there are no transactions in which Ms. Andrews has an interest requiring disclosure under Item 404(a) of Regulation S-K. There is no arrangement or understanding between Ms. Andrews and any other person pursuant to which Ms. Andrews was appointed as an officer of the Company.

In connection with Ms. Andrews’ appointment as Interim Chief Financial Officer, Ms. Andrews accepted an offer letter pursuant to which she will receive salary at a rate of $150,000 per month for March, April and May 2025, after which her salary rate will be $100,000 per month. Ms. Andrews will not receive an equity award in her role as Interim Chief Financial Officer, but she will be eligible for benefits under the Company’s health and welfare plans.

Effective as of the Effective Date, Patrick F. Williams has agreed to step down at the request of the Board from his position as Chief Financial Officer. In accordance with Mr. Williams’ Severance Agreement with the Company, dated as of July 18, 2023, Mr. Williams will be eligible to receive a lump sum severance payment in the amount of 12 months of annual base salary ($575,000) and continued health and dental benefits for a period of 12 months, subject to the execution by Mr. Williams of a separation agreement and general release. Mr. Williams has agreed to a three-month consulting agreement to assist with the transition of responsibilities, which provides for compensation at his current base salary rate of $47,917 per month. Mr. Williams departure is not a result of any disagreement with the Company on any matter relating to the Company’s financial reporting, accounting policies, procedures, estimates, or judgments or internal controls.

Effective as of the Effective Date, Keith Holliday, PhD has agreed to retire at the request of the Board from his position as Chief Technology Officer. In accordance with Mr. Holliday’s Severance Agreement with the Company, dated as of July 18, 2023, Mr. Holliday will be eligible to receive a lump sum severance payment in the amount of 12 months of annual base salary ($550,110) and continued health and dental benefits for a period of 12 months, subject to the execution by Mr. Holliday of