UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol | Name
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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. ¨
| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On April 22, 2025, Accelerate Diagnostics, Inc. (the “Company”) entered into a retention bonus agreement (the “Phillips Retention Agreement”) with Jack Phillips, the Company’s President and Chief Executive Officer. Pursuant to the Phillips Retention Agreement, Mr. Phillips is entitled to receive a retention bonus payment of $200,000, which will be paid as soon as practicable. Upon termination of employment for any reason (other than termination by the Company without “Cause” (as defined in the Phillips Retention Agreement)) prior to 180 days after execution of the Phillips Retention Agreement, Mr. Phillips will be required to repay to the Company the net after-tax amount of his retention bonus payment.
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.
| ACCELERATE DIAGNOSTICS, INC. | |
| (Registrant) | |
| Date: April 25, 2025 | |
| /s/ David Patience | |
| David Patience | |
| Chief Financial Officer |