BIOVENTUS INC. : Change in Directors or Principal Officers (form 8-K)

Published: 2021-12-27 09:03:04 ET BVS

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On December 20, 2021, David J. Parker resigned as a member of the Board of Directors (the "Board") of Bioventus Inc. (the "Company"), effective as of January 1, 2022 (the "Effective Date"). On December 21, 2021, the Board elected Michelle McMurry-Heath as a Class I director of the Board for a term ending at the 2022 annual meeting of stockholders of the Company, effective on the Effective Date. Ms. McMurry-Heath is also expected to be appointed to the Board's Compliance, Ethics and Culture Committee. Michelle McMurry-Heath, 51, has served as President and Chief Operating Officer of the Biotechnology Innovation Organization, a membership and advocacy organization focused on improving biotech research and applying biotech innovations to major healthcare challenges, since 2020. She previously served as Vice President, External Innovation, Global Leader for Regulatory Science and Executive Director of Scientific Partnerships for JLABS@DC, a division of Johnson & Johnson ("J&J"), a manufacturer of medical devices, pharmaceuticals and consumer goods, from 2019 to 2020. Ms. McMurry-Heath joined J&J in 2014, serving as its Worldwide Vice President and Global Head, Regulatory Affairs from 2014 to 2017 and later adding responsibilities for the company's International Clinical Evidence and Strategic Operations from 2017 to 2019. Prior to that, she served as Associate Center Director for Science, Center for Devices and Radiological Health at the U.S. Food and Drug Administration from 2010 to 2014. From 2005 to 2010, Ms. McMurry-Heath was Director of the Health, Biomedical Science and Society Policy Program at the Aspen Institute. Ms. McMurry-Heath began her career as a Senior Policy Advisor for Senator Joseph Lieberman for Health, Social, and Biomedical Innovation Policy from 2001 to 2004. She later served as a Robert Wood Johnson Health and Society Scholar at the University of California, San Francisco and Berkeley from 2004 to 2005 and a Mcarthur Fellow, Global Health for the Council on Foreign Relations from 2004 to 2006. Ms. McMurray-Heath has an MD/PhD in Immunology from Duke University and received an AB in Biochemistry from Harvard University. The Company's Board believes that Ms. McMurry-Heath's significant dynamic policy, regulatory, commercial health care and advocacy experience will be invaluable to the Board. Ms. McMurry-Heath will be entitled to the standard compensation paid by the Company to its non-employee directors, including an annual cash retainer of $55,000 for Board service as well as an additional $5,000 for service on the Compliance, Ethics and Culture Committee. In addition, Ms. McMurry-Heath will receive an initial award of restricted stock units having an aggregate fair value equal to $152,000, pro-rated in accordance with the Company's Non-Employee Director Compensation Policy.