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DSCI > SEC Filings for DSCI > Form 8-K on 26-Aug-2016All Recent SEC Filings

Show all filings for DERMA SCIENCES, INC.

Form 8-K for DERMA SCIENCES, INC.


26-Aug-2016

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.

(e)

Discretionary Bonus

Effective August 25, 2016, the Board of Directors of Derma Sciences, Inc. (the "Company") granted a one-time cash bonus of $200,000 to Stephen T. Wills, as interim principal executive officer. The grant was made in connection with Mr. Wills' efforts, additional time commitments and responsibilities over the last eight months, including spearheading the sale of the Company's First Aid Division, expected to close by the end of August 2016, and the acquisition of BioD, LLC, which included an equity raise of $2.3 million, both of which closed on August 5, 2016. Mr. Wills has served in the capacity of interim principal executive officer since January 1, 2016 at a compensation rate of $15,000 per month.

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

DERMA SCIENCES, INC.

By: /s/ John E. Yetter
John E. Yetter, CPA
Executive Vice President, Finance and Chief Financial Officer

Date: August 26, 2016

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