Corporate GovernanceJun 12, 2026, 05:26 PM
Tenon Medical Increases Executive Salaries, Bonuses; Extends Ferrari's Term
AI Summary
Tenon Medical, Inc. announced its 2026 Executive Compensation Plan, effective March 1, 2026, which includes a 5% increase in annual base salaries for its CEO, CFO, and COO. The plan also revised annual bonus opportunities and introduced a second bonus for these executives based on milestone achievements. Additionally, the company extended Executive Chairman Richard Ferrari's consulting agreement for another year, maintaining his compensation at $45,000 per quarter.
Key Highlights
- Tenon Medical approved its 2026 Executive Compensation Plan, effective March 1, 2026.
- CEO Steven M. Foster's annual base salary increased by 5% to $420,000.
- CFO Kevin Williamson's annual base salary increased by 5% to $330,750.
- COO Richard Ginn's annual base salary increased by 5% to $304,500.
- Mr. Foster's annual bonus opportunity changed to 50% of base salary.
- Mr. Williamson and Mr. Ginn's annual bonus opportunity changed to 35% of base salary.
- A second bonus of up to $100,000 for Mr. Foster, $70,000 for Mr. Williamson, and $50,000 for Mr. Ginn was approved.
- Richard Ferrari's consulting agreement was extended for one year, from May 7, 2026, to May 6, 2027, with quarterly compensation of $45,000 ($180,000 annually).
Price Impact
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