Hahn, Hartman To Repay Biomet Over Stock Posting
July 28, 2016 at 4:25 p.m.
By M.J. [email protected]
The report included copies of the March 30 retirement and consulting agreements with Gregory D. Hartman, former chief financial office, and Daniel P. Hann, former executive vice president of administration and board member.
Both retired effective March 30.
The agreements outlined the terms of retirement and resignation, stated the former executives were not entitled to any severance or termination benefits, and addressed the treatment of stock options currently under investigation.
The section of the filing on options stated that the executives will repay to the company the aggregate amount by which the options granted were less than the fair market value of the stock on the date each option was granted. The agreement also stated the exercise price of unexercised options may be increased.
Hartman and Hann also waived any future claims of any type.
The retirement and consultant agreements also stipulated the terms of any consultant compensation and expense to be paid to Hartman and Hann, as well as the terms under which the consulting terms may be terminated.
The report included preliminary unaudited financial statements and related preliminary disclosures for the third quarter of fiscal 2007. On March 30, Biomet publicly disclosed that previously issued financial statements and any related reports of its public accounting firm should not be relied upon. All previously disclosed reports will be superseded when Biomet files a quarterly report on Form 10-Q with the SEC.
A complete copy of the Friday filing may be found at www.sec.gov/edgar/searchedgar/companysearch.html and entering Biomet's ticker symbol, BMET.
Acquisition proxy
Biomet Inc. today announced that it will begin mailing its definitive proxy materials to shareholders for approval of the acquisition this week. On Dec. 18, Biomet announced the proposed acquisition by an entity currently controlled by private equity funds sponsored by The Blackstone Group, Goldman, Sachs & Co., Kohlberg Kravis Roberts and Texas Pacific Group.
The acquisition will be a merger transaction by the Sponsor Group, which has agreed to pay $44 in cash, without interest, for each common share of Biomet upon the closing of the merger. Biomet has scheduled a special meeting of shareholders June 8 to consider and vote on the merger agreement and related transactions. Biomet's shareholders of record as of April 20 will be entitled to vote at the special meeting.[[In-content Ad]]
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The report included copies of the March 30 retirement and consulting agreements with Gregory D. Hartman, former chief financial office, and Daniel P. Hann, former executive vice president of administration and board member.
Both retired effective March 30.
The agreements outlined the terms of retirement and resignation, stated the former executives were not entitled to any severance or termination benefits, and addressed the treatment of stock options currently under investigation.
The section of the filing on options stated that the executives will repay to the company the aggregate amount by which the options granted were less than the fair market value of the stock on the date each option was granted. The agreement also stated the exercise price of unexercised options may be increased.
Hartman and Hann also waived any future claims of any type.
The retirement and consultant agreements also stipulated the terms of any consultant compensation and expense to be paid to Hartman and Hann, as well as the terms under which the consulting terms may be terminated.
The report included preliminary unaudited financial statements and related preliminary disclosures for the third quarter of fiscal 2007. On March 30, Biomet publicly disclosed that previously issued financial statements and any related reports of its public accounting firm should not be relied upon. All previously disclosed reports will be superseded when Biomet files a quarterly report on Form 10-Q with the SEC.
A complete copy of the Friday filing may be found at www.sec.gov/edgar/searchedgar/companysearch.html and entering Biomet's ticker symbol, BMET.
Acquisition proxy
Biomet Inc. today announced that it will begin mailing its definitive proxy materials to shareholders for approval of the acquisition this week. On Dec. 18, Biomet announced the proposed acquisition by an entity currently controlled by private equity funds sponsored by The Blackstone Group, Goldman, Sachs & Co., Kohlberg Kravis Roberts and Texas Pacific Group.
The acquisition will be a merger transaction by the Sponsor Group, which has agreed to pay $44 in cash, without interest, for each common share of Biomet upon the closing of the merger. Biomet has scheduled a special meeting of shareholders June 8 to consider and vote on the merger agreement and related transactions. Biomet's shareholders of record as of April 20 will be entitled to vote at the special meeting.[[In-content Ad]]
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