8-KLeadership ChangesExhibits & Filings

DEXCOM INC 8-K Report, Executive Changes (Mar 23, 2021)

Filed March 23, 2021For Securities:DXCM

Summary

DexCom, Inc. (DXCM) announced a significant leadership change in its finance department via an 8-K filing on March 23, 2021. Jereme Sylvain has been promoted to Chief Financial Officer (CFO), in addition to retaining his role as Chief Accounting Officer (CAO). This appointment is effective immediately and positions Mr. Sylvain as DexCom's principal financial and accounting officer. Concurrently, Quentin Blackford, who previously held the CFO title, will step down from that position but will continue to serve DexCom as its Chief Operating Officer (COO). This transition appears to be a strategic move to align financial leadership with operational responsibilities. The filing also details Mr. Sylvain's compensation package for his new role, including a base salary increase, annual bonus opportunity, and a substantial equity award composed of time-based and performance-based restricted stock units, aligning his incentives with the company's performance and long-term value creation.

Key Highlights

  • 1Jereme Sylvain promoted to Chief Financial Officer (CFO) and continues as Chief Accounting Officer (CAO).
  • 2Quentin Blackford resigns as CFO but remains Chief Operating Officer (COO).
  • 3Mr. Sylvain's new role makes him the principal financial and accounting officer for Exchange Act purposes.
  • 4Mr. Sylvain's compensation includes an annual base salary of $379,500.07 and an annual bonus opportunity of 75% of his base salary.
  • 5Mr. Sylvain received an equity award valued at $2,587,500, comprising 5,301 time-based RSUs and 1,326 performance-based RSUs.
  • 6The performance-based RSUs are contingent on achieving 2021 operational goals and 3-year relative total shareholder return (TSR) versus the Nasdaq Composite Index.
  • 7Mr. Sylvain has a robust financial and accounting background with experience at NuVasive, Thermo Fisher Scientific, and Life Technologies.

Frequently Asked Questions

This 8-K filing primarily announces a change in DexCom's Chief Financial Officer role. Jereme Sylvain has been promoted to CFO, while Quentin Blackford transitions out of the CFO role but remains COO.

Jereme Sylvain is now the Chief Financial Officer (CFO) and will continue to serve as the Chief Accounting Officer (CAO). He will also act as DexCom's principal financial officer and principal accounting officer for purposes of the Exchange Act.

Mr. Sylvain will receive an annual base salary of $379,500.07, an annual bonus opportunity of 75% of his base salary, and a significant equity award valued at $2,587,500. This award includes both time-based and performance-based restricted stock units, with vesting tied to continued employment and specific company performance metrics.

Quentin Blackford will no longer serve as CFO but will remain in his role as Chief Operating Officer (COO). This suggests a strategic decision to separate the CFO and COO roles, allowing each executive to focus on their respective areas of expertise.