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):
July
15
, 201
9
Micron Solutions, Inc.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of Incorporation or organization)
|
1-9731
(Commission File Number)
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72-0925679
(I.R.S. Employer Identification Number)
|
25 Sawyer Passway
Fitchburg, MA 01420
(Address of principal executive offices and zip code)
(978) 345-5000
(Registrant's telephone number, including area code)
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 (see General Instruction A.2. below):
[ ] Written communications 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
Name of each exchange on which registered
Common Stock, $0.01 par value MICR
New York Stock Exchange
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.
☐
Client Matter 23832/00006/A6072562.DOCX
Item 5.02 Departu
r
e of Di
r
ectors or
Certain Officers; Election of Di
r
ectors;
Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
(c)
On
July 15
, 201
9
,
Micron Solutions,
Inc. (the “Company”) entered into a new Employment Agreement (the “Agreement”), effective
July
15
, 201
9
, with Mr.
Wayne Coll
. Mr.
Coll
will serve as Chief
Financial
Officer
,
Treasurer and Principal Accounting and Financial Officer
of the Company. Mr.
Coll
commence
d
his employment with the Company on
July 15
, 201
9
. Mr.
Coll’
s Employment Agreement is attached hereto as
Exhibit 10.
80
.
Mr.
Coll
, age
55
,
brings to Micron over
30
years of
financial management
experience focused on
the
medical device
industry.
His expertise in
public company governance, mergers
and
acquisitions and strateg
y
development and execution
, make him well suited to serve as Chief
Financial
Officer.
Mr.
Coll
, was formerly engaged
from October 2018 to May 2019
as
Chief Financial Officer of Keystone Dental, Inc
.
, a privately
-
held medical device manufacturer. From October 2013 to September 2018 Mr. Coll served as Chief Financial and Operating Officer of Modern Dental Laboratory, USA LLC, a manufacturer of medical devices and the North American unit of the publicly-traded Modern Dental Group Limited (HKEX:3600).
Beginning in
November
20
11
Mr.
Coll
served as
Chief Financial Officer of Pluromed, Inc. a medical device manufacturer that was subsequently acquired by Genzyme Corporation, w
h
ere
he continued until September 2013
. From October 1990 to May 2011 Mr. Coll held a variety of
senior
financial management roles including Chief Financial Officer
at
National Dentex Corporation (NASDAQ:NADX)
There
are no family relationships between Mr.
Coll
and any director or executive officer of the Company or its subsidiaries.
A press release related to these matters is attached as
Exhibit 99.1
.
(e) Mr.
Coll
’s employment agreement provides for an annualized salary of $2
0
0,000. He may qualify for
performance
bonuses
in accordance with the Company’s Executive Incentive Plan
. Upon entering the employment agreement, Mr.
Coll
received a signing bonus of options to purchase
3
0,000 shares of the Company’s common stock, which options shall vest over a four year period, beginning with a 25% vest on the first anniversary of
the
grant
date. The vesting of the options also accelerate upon a change in control. Mr.
Coll
shall be subject to certain non-competition and non-solicitation restrictions.
Client Matter 23832/00006/A6072562.DOCX
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Item 9.01
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Financial Statements and Exhibits.
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(d)
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Exhibits.
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Exhibit No.
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Description
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10.
80
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Employment Agreement dated
July
15
, 201
9
between the Company and
Wayne Coll
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99.01
|
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Press Release dated
July
17
, 201
9
.
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SIGNATURE
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, on the
17
th
day of
July
201
9
.
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MICRON SOLUTIONS, INC.
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By
:
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/s/
Wayne M. Coll
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Wayne M. Coll
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Chief Financial Officer
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(principal financial and accounting officer)
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Client Matter 23832/00006/A6072562.DOCX