Delcath Systems (DCTH) has provided an update.
Delcath Systems, Inc. has renewed its leadership contracts with CEO Gerard Michel, SVP of Finance Sandra Pennell, and GM of Interventional Oncology Kevin Muir, ensuring stability at the top. These new agreements outline their participation in the annual incentive plan based on company and individual performance, with potential bonus earnings proportional to their respective salaries. Additionally, the contracts detail severance terms, including substantial salary continuation and health coverage benefits under certain termination conditions, and accelerated vesting of unvested stock options, signaling a strong commitment to its executive team and a clear strategy for executive compensation and retention.
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