UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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CURRENT REPORT
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OF THE SECURITIES EXCHANGE ACT OF 1934
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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 January 23, 2024, Michael John Doyle was appointed to the Board of Directors of iCAD, Inc. (the “Company”), effective immediately.
In connection with his appointment, Mr. Doyle was granted an inaugural equity incentive grant in the form of an option (the “Option”) to purchase a total of 40,000 shares of the Company’s common stock, par value $0.01 per share. The Option shall vest in equal quarterly increments over a period of one year from the date of grant and has an exercise price per share of $1.54, which was the closing price of the Company’s common stock on the Nasdaq Stock Market on the date of grant.
Mr. Doyle, age 65, has served as the President, Chief Executive Officer and Director of Spire Health, a leading healthcare technology company, since November 2022. Prior to that role, Mr. Doyle served as President, Chief Executive Officer, and Director of COTA Healthcare (October 2018 – December 2021), and QPID Health (December 2012 – September 2018). Mr. Doyle was the Co-Chairman of the board of directors of Medsphere Systems Corporation from August 2011 to December 2012 and the President, Chief Executive Officer and Director from October 2007 to August 2011. From April 2006 to June 2007, Mr. Doyle served as the Chief Executive Officer and Director of Advantedge Healthcare Solutions. From January 2005 to March 2006, Mr. Doyle served as the Chief Executive Officer of Windward Advisors. From March 2000 to December 2004, Mr. Doyle served as Chairman and Chief Executive Officer of Salesnet. Mr. Doyle previously served as a Director of Novelos Therapeutics. From 1989 to 1997, Mr. Doyle served as Chairman and Chief Executive Officer of Standish Care/Carematrix, a company he founded. Mr. Doyle received a B.S. in biology from Tufts University and a M.B.A. with a concentration in finance and hospital administration from the University of Chicago (Booth School of Business).
There is no arrangement or understanding between Mr. Doyle and any other person pursuant to which Mr. Doyle was selected as a director of the Company and there is no family relationship between Mr. Doyle and any of the Company’s directors or executive officers. The Company is not aware of any transaction involving Mr. Doyle which would require disclosure under Item 404(a) of Regulation S-K promulgated under the Securities Act of 1933, as amended.
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 thereunto duly authorized.
ICAD, INC. (Registrant) | ||
| By: | /s/ Dana Brown | |
| Dana Brown | ||
| Chief Executive Officer and President | ||
Date: January 25, 2024