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EAR > SEC Filings for EAR > Form 8-K on 31-Oct-2008All Recent SEC Filings

Show all filings for HEARUSA INC | Request a Trial to NEW EDGAR Online Pro

Form 8-K for HEARUSA INC


31-Oct-2008

Change in Directors or Principal Officers


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

On October 27, Stephen Webster, Senior Vice President of Finance and Chief Financial Officer of Adolor Corporation, was elected to the Board of Directors of HearUSA, Inc. (the "Company"), filling a vacancy created by the expansion of the size of the Board from seven to eight members. Mr. Webster was also appointed to serve on the Audit, Compensation and Nominating and Corporate Governance Committees of the Board.

In his current position at Adolor Corporation, Mr. Webster is responsible for all aspects of corporate finance including financial reporting and budgeting. He has over twenty years of healthcare industry related experience. Before assuming his position at Adolor, Mr. Webster most recently served as Managing Director of Healthcare Investment Banking at Broadpoint Capital (formerly First Albany Capital). Prior to Broadpoint Capital, from 2000 to 2006, Mr. Webster was co-founder, President and CEO of Neuronyx, Inc., a privately-held biotechnology company. Mr. Webster also spent over thirteen years at PaineWebber Incorporated, including as Director, Investment Banking Division, Health Care Group.

Mr. Webster will receive the director fees and benefits as described in the Company's 2008 proxy statement filed with the Securities and Exchange Commission. Pursuant to the Company's shareholder approved equity compensation plan, the Board granted to Mr. Webster an option to acquire 25,000 shares at an exercise price equal to the closing price on October 27, 2008, vesting ratably over three years.


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