UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

 

Date of report (Date of earliest event reported): September 15, 2020

 

INARI MEDICAL, INC.

(Exact name of registrant as specified in its charter)

 

 

 

(877) 923-4747

(Registrant’s telephone number, include area code)

 

N/A

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Securities registered pursuant to Section 12(b) of the Act:

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

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

On September 17, 2020, Inari Medical, Inc. (the “Company”) announced the promotion of Andrew Hykes, age 47, to the position of Chief Operating Officer of the Company, effective September 1, 2020.

In connection with Mr. Hyke’s promotion as Chief Operating Officer, on September 15, 2020 the Compensation Committee of the Board of Directors of the Company approved an increase to Mr. Hykes’ annual base salary from $400,000 to $450,000, effective September 1, 2020. In addition, he will remain eligible for an annual bonus, equity awards and other employee benefits in accordance with the Company’s compensation program.  

Mr. Hykes joined the Company as Chief Commercial Officer in September 2017. From November 2012 to January 2017, Mr. Hykes was the Vice President of Commercial Operations of Sequent Medical Inc., a private company focused on catheter-based neurovascular therapies that was acquired by Terumo Corporation in July 2016. Prior to this, Mr. Hykes worked for Medtronic PLC, a public medical device company, from August 2002 to October 2012, where he held several positions including Vice President of Marketing, Vice President of Clinical and Regulatory Affairs and Director of Investor Relations. From 1995 to 2000, Mr. Hykes worked in healthcare banking for ABN AMRO Bank. Mr. Hykes received his B.B.A. from the University of Wisconsin Madison and an M.B.A. from Harvard Business School.

There is no arrangement or understanding between Mr. Hykes and any other persons pursuant to which Mr. Hykes was promoted, there are no family relationships between Mr. Hykes and any of the Company’s directors or executive officers, and there are no related party transactions involving Mr. Hykes that are reportable under Item 404(b) of Regulation S-K.

 

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

 

 

 

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SIGNATURES

 

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

 

 

 

 

 

Exhibit 99.1

Inari Medical Announces Promotion of Drew Hykes to Chief Operating Officer

 

IRVINE, CALIFORNIA – September 17, 2020 (GLOBE NEWSWIRE) -- Inari Medical, Inc. (NASDAQ: NARI) (“Inari”) a commercial-stage medical device company focused on developing products to treat and transform the lives of patients suffering from venous diseases, today announced the promotion of Drew Hykes to Chief Operating Officer, effective September 1, 2020.  In his expanded role, Mr. Hykes will now have responsibility for Research, Product Development, Manufacturing, Operations, Quality and Regulatory, in addition to the Commercial functions.

Mr. Hykes joined Inari as Chief Commercial Officer in September 2017.  Prior to Inari, Mr. Hykes served as the VP of Commercial Operations at Sequent Medical where he led the commercialization strategy for the WEB Aneurysm Embolization system from early prototype to broad adoption in the European market.  Prior to Sequent, Mr. Hykes spent twelve years at Medtronic in various roles including the VP of Marketing and VP of Clinical and Regulatory for the AF Solutions business, and Director of Investor Relations.  Prior to Medtronic, he spent four years at ABN AMRO bank in Chicago focused on healthcare transactions.  He received his B.B.A. from the University of Wisconsin Madison and an M.B.A. from Harvard Business School.

“Drew has had a significant impact on our commercial success over the last three years,” said Bill Hoffman, CEO of Inari Medical. “Under Drew’s leadership, we have rapidly built a highly effective and efficient commercial organization dedicated to improving the lives of patients suffering from venous thromboembolism.  This promotion not only recognizes this record of accomplishment, but his passion for Inari’s mission.”

"It's an honor to continue to help Inari Medical bring new technologies to many more patients," said Hykes. “We have built an outstanding organization, with talented people fully dedicated to changing the lives of patients."

About Inari Medical, Inc.
Inari Medical, Inc. is a commercial-stage medical device company focused on developing products to treat and transform the lives of patients suffering from venous diseases.

 

Inari is focused on treating venous thromboembolism and improving the quality of life of patients suffering from this disease by safely and effectively removing blood clots. Inari has developed two minimally-invasive, novel catheter-based mechanical thrombectomy devices that are designed to remove large clots from large vessels and eliminate the need for thrombolytic drugs. The ClotTriever system is 510(k)-cleared by the FDA for thrombectomy in the peripheral vessels and is used to treat patients suffering from deep vein thrombosis. The FlowTriever system is 510(k)-cleared by the FDA for the treatment of pulmonary embolism.

 

Investor Contact:
Westwicke Partners
Caroline Corner
Phone +1-415-202-5678 
caroline.corner@westwicke.com