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10-K
2016 FY
PRPO Precipio Inc
12 Apr 17
Annual report
8:00pm
Name and Principal PositionYearSalary ($)SARs and Option Awards(1) ($)All Other Compensation ($)Total ($)
Paul Kinnon (2)2016350,00011,075(3)361,075
President, Chief Executive Officer and Interim Chief Financial Officer2015350,00068,92511,075(3)430,000
Leon Richards (4)2016150,00021,669(5)171,669
Former Chief Accounting Officer2015200,00073,5208,380(6)281,900
__________
(1)The amounts in this column reflect the aggregate grant date fair value of the stock appreciation rights (“SARs”) and stock option awards granted during the respective fiscal year as computed in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 718, excluding the effect of estimated forfeitures. The amounts shown for 2015 do not correspond to the actual value that will be recognized by the named executive officer. The assumptions used in the calculation of these amounts are included in Note 11 “Equity Incentive Plan” to the consolidated financial statements. See the table entitled “2016 Grants of Plan-Based Awards” for information on SARs and stock options granted in 2015. On December 13, 2016, the Board agreed to extend the period during which these stock options may be exercised following Mr. Kinnon’s termination of employment (i) by the Company without “Cause” or (ii) by Mr. Kinnon for “Good Reason” (each of the foregoing capitalized terms as defined in the Kinnon Employment Agreement) to 24 months after such termination, but in no event shall such period extend beyond the Term of Options as defined in the applicable award agreements, and for purposes of any incentive stock option, such extension shall be considered the grant of a new award on the same terms except that the exercise price shall be the greater of (i) the exercise price set forth in the original grant or (ii) the fair market value on the date of the extension.
(2)See “Agreements with the Company’s Named Executive Officers - Paul Kinnon Employment Agreement” for a description of the Kinnon Employment Agreement with the Company. Mr. Kinnon was appointed as the Company’s President and Chief Executive Officer effective as of September 30, 2013 and the Company’s Interim Chief Financial Officer effective as of October 31, 2014.
(3)Amounts paid to Mr. Kinnon in 2016 and 2015 consisted of $10,600 in 401(k) matching contributions and $475 in long term disability insurance.
(4)Mr. Richards resigned from the Company effective September 30, 2016.
(5)Amounts paid to Mr. Richards in 2016 consisted of $6,000 in 401(k) matching contributions, accrued vacation pay of $15,384 and $285 in long term disability insurance.
(6)Amounts paid to Mr. Richards in 2015 consisted of $8,000 in 401(k) matching contributions and $380 in long term disability insurance.
10-K
2012 FY
PRPO Precipio Inc
13 Mar 13
Annual report
8:00pm
NameBenefitCauseWithout Cause(1)Voluntary TerminationChange in Control(1)Death(1)Disability(1)Retirement(1)
Craig. J. TuttleCash$$350,000$$350,000$$$
Stock options
Benefits
Total$$350,000$$350,000$$$
Mark P. ColonneseCash$$206,250$$206,250$$$
Stock options
Benefits
Total$$206,250$$206,250$$$
Brett L. FrevertCash
Stock options$$$$$$$
Benefits$$$$$$$
Total$$$$$$$
Chad M. RichardsCash$$$$$$$
Stock options
Benefits
Total$$$$$$$
10-K
2011 FY
PRPO Precipio Inc
13 Mar 12
Annual report
8:00pm
NameBenefitCauseWithout Cause(1)Voluntary TerminationChange in Control(2)Death(2)Disability(2)Retirement(2)
Craig. J. TuttleCash$$350,000$$350,000$$$
Stock options354,000404,000404,000404,000404,000
Benefits
Total$$704,000$$754,000$404,000$404,000$404,000
Brett L. FrevertCash$$$$$$$
Stock options25,00025,00025,00025,000
Benefits
Total$$$$25,000$25,000$25,000$25,000
Chad M. RichardsCash$$$$$$$
Stock options120,000145,000145,000145,000145,000
Benefits
Total$$120,000$$145,000$145,000$145,000$145,000
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