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HEWA > SEC Filings for HEWA > Form 8-K on 20-Jun-2013All Recent SEC Filings

Show all filings for HEALTHWAREHOUSE.COM, INC.



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 June 14, 2013, the Board of Directors (the "Board") of, (the "Company"), elected Ned L. Siegel a director of the Company effective immediately to fill a vacancy on the Board of Directors. Mr. Siegel will stand for election at the Company's 2013 Annual Meeting of stockholders. Mr. Siegel served as the U.S. Ambassador to the Commonwealth of The Bahamas from 2007 to 2009 and is currently the Chairman of The Siegel Group, Inc., a real estate development, investment and consulting firm active in all aspects of residential development, commercial development, and realty management.

On June 19, 2013, the Board granted Mr. Siegel an option to purchase 100,000 shares of the Company's common stock, $.001 par value per share, at an exercise price per share equal to $1.45, and such options vest 33.33% on each of the first three anniversaries of the date of the grant. Under the terms of the stock option agreement, any unvested portion of the options terminate and are null and void upon the termination of Mr. Siegel's service with the Company. The options have a term of ten years and any vested and unexercised options terminate three months after the termination of Mr. Siegel's service with the Company for a reason other than cause and immediately upon Mr. Siegel's termination of service for cause and twelve months after termination of Mr. Siegel's service by reason of disability or death. Mr. Siegel was not selected as a director pursuant to any agreement or understanding with any other person.

The Board determined that Mr. Siegel is an independent director.

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