Annual report pursuant to Section 13 and 15(d)

Separation of David Bupp

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Separation of David Bupp
12 Months Ended
Dec. 31, 2011
Separation of David Bupp
9. Separation of David Bupp

 

In March 2011, Neoprobe announced the departure of our then-current President and CEO, David C. Bupp, effective April 15, 2011. The following table summarizes remaining accrued separation costs, including employer payroll tax obligations, related to the provisions of Mr. Bupp’s separation agreement, which are included in accrued liabilities and other on the consolidated balance sheet as of December 31, 2011:

 

  As of
December 31,
2011
 
Separation   $ 180,074  
Pro-rated 2011 bonus     60,870  
Estimated cost of continuing healthcare coverage     61,875  
    $ 302,819  

 

Concurrent with Mr. Bupp’s separation, Dr. Mark J. Pykett was named Neoprobe’s new President and CEO, effective April 15, 2011.