Heartbeam Inc. filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits

$BEAT
Medical/Dental Instruments
Health Care
Get the next $BEAT alert in real time by email
beat-20240909
0001779372FALSE00017793722024-09-092024-09-090001779372us-gaap:CommonClassAMember2024-09-092024-09-090001779372us-gaap:WarrantMember2024-09-092024-09-09

  
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 and Exchange Act of 1934
 
Date of Report (Date of earliest event reported): September 9, 2024
 
HEARTBEAM, INC.
(Exact name of Registrant as specified in its charter)
 
Delaware 001-41060 47-4881450
(State or other jurisdiction
of incorporation)
 
(Commission
File Number)
 
(IRS Employer
Identification No.)
 
2118 Walsh Avenue, Suite 210
Santa Clara, CA 95050
(Address of principal executive offices, including zip code)
 
(408) 899-4443
(Registrant’s telephone number, including area code)
 
Check the appropriate box below if the 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:
 
Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).
 
Securities registered pursuant to Section 12(b) of the Act:
 
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock
 
BEAT
 
NASDAQ
Warrant
BEATW
NASDAQ
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
 
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.  




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

Employment Agreement with Timothy Cruickshank

On August 22, 2024, the Board of Directors (the “Board”) of HeartBeam, Inc. (the “Company”) appointed Timothy Cruickshank as Chief Financial Officer of the Company (the “Appointment”) effective as of September 9, 2024. In connection with the Appointment, the Company entered into an employment agreement with Mr. Cruickshank dated August 27, 2024, (the “Employment Agreement”).

Pursuant to the Employment Agreement, the Company will compensate Mr. Cruickshank an annual fee of $385,000, which is to be paid in semi-monthly installments in accordance with the Company’s normal payroll procedures. Mr. Cruickshank’s salary will be subject to adjustment pursuant to the Company's employee compensation policies in effect from time to time and he will also be eligible to receive certain employee benefits. Additionally, Mr. Cruickshank may receive an incentive bonus of 45% of his annual base salary determined by an agreed to set of corporate goals and objectives. Subject to the approval of the Board, Mr. Cruickshank will be granted an option to purchase 400,000 shares of the Company’s Common Stock (the “Option”). The exercise price per share of the Option will be determined by the Board when the Option is granted. The Option will be subject to the terms and conditions applicable to options granted under the Company’s 2022 Stock Plan (the “Plan”), as described in the Plan.

Mr. Cruickshank, age 43, was a financial executive of ImpediMed since 2008 and served as CFO from October 2019 through March 2024. ImpediMed is a medical technology company that designs and manufactures medical devices and software services employing its pioneering bioimpedance spectroscopy (BIS) technology for multiple indications including heart failure, protein calorie malnutrition, and lymphedema within oncology. During Mr. Cruickshank’s time at ImpediMed, he spearheaded the evolution of the company from a traditional medical device company to a medical technology company with a high margin Software-as-a-Service (SaaS) business model, through the launch of the SOZO® Digital Health Platform. He received a Master of Business Administration from Keller Graduate School of Management and a Bachelor of Science in Accounting from Syracuse University.

Family Relationships

Mr. Cruickshank does not have a family relationship with any of the current officers or directors of the Company.

Related Party Transactions

There are no related party transactions with regard to Mr. Cruickshank reportable under Item 404(a) of Regulation S-K.

The foregoing contains only a brief description of the material terms of and does not purport to be a complete description of the rights and obligations of the parties to the Employment Agreement, and such description is qualified in its entirety by reference to the full text of the Employment Agreement, which is filed hereto as Exhibit 10.2 and incorporated herein by reference.

On September 10, 2024, the Company issued a press release announcing the Appointment. A copy of the press release is filed hereto as Exhibits 99.1 and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits









Exhibit
Number
Description
104Cover Page Interactive Data File (embedded within the Inline XBRL document).
10.2
99.1



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.
 
 HeartBeam, Inc.
   
Date: September 10, 2024By:/s/ Branislav Vajdic
 Name: Branislav Vajdic
 Title:Chief Executive Officer
 
 
 
 



Get the next $BEAT alert in real time by email

Chat with this insight

Save time and jump to the most important pieces.

Recent Analyst Ratings for
$BEAT

DatePrice TargetRatingAnalyst
12/20/2021$9.00Speculative Buy
Benchmark
More analyst ratings

$BEAT
Press Releases

Fastest customizable press release news feed in the world

See more
  • HeartBeam Reports Fourth Quarter and Full Year 2024 Results

    Received FDA Clearance for the HeartBeam System – an At-Home, High-Fidelity Heart Monitoring Technology Commenced Early Access Program to Attain Key Insights and Establish Sales Funnel in Preparation for Commercialization Submitted 510(k) Application to FDA for Groundbreaking 12-lead Electrocardiogram (ECG) Synthesis Software Gross Proceeds of ~$11.5 Million from Public Offering and Over-Allotment Option to Fund Near-Term Milestones Management to Host Webcast and Conference Call Today at 4:30 p.m. ET HeartBeam, Inc. (NASDAQ:BEAT), a medical technology company focused on transforming cardiac care by providing powerful personalized insights, has reported its financial and operation

    $BEAT
    Medical/Dental Instruments
    Health Care
  • HeartBeam to Participate at Upcoming Conferences in Dana Point, California, March 16-21, 2025

    HeartBeam, Inc. (NASDAQ:BEAT), a medical technology company focused on transforming cardiac care by providing powerful personalized insights, today announced that CEO Robert Eno and CFO Timothy Cruickshank will be participating in the following upcoming conferences in Dana Point, CA. 37th Annual Roth Conference being held at The Laguna Cliffs Marriott Resort & Spa, March 16-18, 2025 LSI USA '25 Conference being held at the Waldorf Astoria, Monarch Beach, March 17-21, 2025 To schedule a one-on-one meeting with HeartBeam management, please contact your conference representative or email your request to BEAT@mzgroup.us or call Chris Tyson at (949) 491-8235. About HeartBeam, Inc. HeartB

    $BEAT
    Medical/Dental Instruments
    Health Care
  • HeartBeam to Host Fourth Quarter Full Year 2024 Results Conference Call on Thursday, March 13, 2025 at 4:30 p.m. Eastern Time

    HeartBeam, Inc. (NASDAQ:BEAT), a medical technology company focused on transforming cardiac care by providing powerful personalized insights, will hold a conference call on Thursday, March 13, 2025 at 4:30 p.m. Eastern time to discuss its results for the fourth quarter and full year ended December 31, 2024, and will be providing updates on regulatory initiatives, commercial-readiness activities and anticipated milestones. A press release detailing these results will be issued prior to the call. HeartBeam CEO Robert Eno and CFO Timothy Cruickshank will host the conference call, followed by a question-and-answer period. The conference call will be accompanied by a presentation, which can be

    $BEAT
    Medical/Dental Instruments
    Health Care

$BEAT
Analyst Ratings

Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

See more

$BEAT
Insider Purchases

Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

See more

$BEAT
Insider Trading

Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

See more

$BEAT
SEC Filings

See more

$BEAT
Leadership Updates

Live Leadership Updates

See more
  • HeartBeam Announces FDA Clearance for At-Home, High-Fidelity Heart Monitoring Technology

    First cable-free, ambulatory ECG that captures the heart's electrical signals from three distinct directions for high-fidelity data collection and advanced diagnostics Patients can have the credit card-sized device with them at all times, ready to record an ECG whenever they feel symptoms and reduce delays in care Company to initiate Early Access Program to gain important patient and physician feedback on the use of the system in preparation for commercial launch HeartBeam, Inc. (NASDAQ:BEAT), a medical technology company focused on transforming cardiac care by providing powerful cardiac insights, today announced that the US Food and Drug Administration (FDA) has granted 510(k) cl

    $BEAT
    Medical/Dental Instruments
    Health Care
  • HeartBeam Appoints Robert Eno as Chief Executive Officer in Preparation for US Commercialization

    Industry leader brings extensive experience in developing go-to-market strategies for breakthrough products and delivering growth Founder and current CEO Branislav Vajdic named President to focus on advancing the Company's groundbreaking vector-based technology for heart health, including AI applications HeartBeam, Inc. (NASDAQ:BEAT), a medical technology company focused on transforming cardiac care by providing powerful insights wherever the patient is, announced that Robert Eno has been appointed Chief Executive Officer (CEO), effective Monday, October 21, 2024. The seasoned MedTech executive joined HeartBeam as President in January 2023 and will lead as the Company continues to work

    $BEAT
    Medical/Dental Instruments
    Health Care
  • HeartBeam Appoints Dr. Lance Myers as Chief AI Scientist

    Industry Leader, Former Head of Data Science at Verily (Google Life Sciences) and Globally Respected Authority on Artificial Intelligence (AI) Applications in Biosensor Technologies Dr. Myers to Drive Innovation and Strategic Growth as HeartBeam Advances and Expands its AI Capabilities HeartBeam, Inc. (NASDAQ:BEAT), a medical technology company focused on transforming cardiac care by providing powerful cardiac insights wherever the patient is, announced the appointment of Lance Myers, PhD, a pioneer in digital health data analytics and body-worn biosensor technologies, as Chief Artificial Intelligence (AI) Scientist. In this newly created position, Dr. Myers will play a pivotal role in gu

    $BEAT
    Medical/Dental Instruments
    Health Care

$BEAT
Financials

Live finance-specific insights

See more
  • HeartBeam to Host Fourth Quarter Full Year 2024 Results Conference Call on Thursday, March 13, 2025 at 4:30 p.m. Eastern Time

    HeartBeam, Inc. (NASDAQ:BEAT), a medical technology company focused on transforming cardiac care by providing powerful personalized insights, will hold a conference call on Thursday, March 13, 2025 at 4:30 p.m. Eastern time to discuss its results for the fourth quarter and full year ended December 31, 2024, and will be providing updates on regulatory initiatives, commercial-readiness activities and anticipated milestones. A press release detailing these results will be issued prior to the call. HeartBeam CEO Robert Eno and CFO Timothy Cruickshank will host the conference call, followed by a question-and-answer period. The conference call will be accompanied by a presentation, which can be

    $BEAT
    Medical/Dental Instruments
    Health Care
  • HeartBeam Reports Third Quarter 2024 Results

    Continued Clinical and Regulatory Progress on the HeartBeam System Key Appointments to Management Team Completed as Part of Planned Evolution in Preparation for US Commercialization Strengthening Clinical Evidence Base, with Two Additional Studies to be Presented at the American Heart Association Conference in November 2024 Management to Host Webcast and Conference Call Today at 4:30 p.m. ET HeartBeam, Inc. (NASDAQ:BEAT), a medical technology company focused on transforming cardiac care through the power of personalized insights, has reported its financial and operational results for the third quarter ended September 30, 2024. Third Quarter & Subsequent 2024 Operational Highlights

    $BEAT
    Medical/Dental Instruments
    Health Care
  • HeartBeam to Host Third Quarter 2024 Results Conference Call on Thursday, November 7, 2024 at 4:30 p.m. Eastern Time

    HeartBeam, Inc. (NASDAQ:BEAT), a medical technology company focused on transforming cardiac care by providing powerful cardiac insights wherever the patient is, will hold a conference call on Thursday, November 7, 2024 at 4:30 p.m. Eastern time to discuss its results for the third quarter ended September 30, 2024, and will be providing regulatory updates, reviewing ongoing initiatives, and anticipated milestones. A press release detailing these results will be issued prior to the call. HeartBeam CEO Robert Eno, Founder and President Branislav Vajdic, PhD, and CFO Timothy Cruickshank will host the conference call, followed by a question-and-answer period. The conference call will be accompa

    $BEAT
    Medical/Dental Instruments
    Health Care

$BEAT
Large Ownership Changes

This live feed shows all institutional transactions in real time.

See more