8-KLeadership ChangesExhibits & Filings

IDEXX LABORATORIES INC /DE 8-K Report, Executive Changes (Jul 14, 2015)

Filed July 14, 2015For Securities:IDXX

Summary

This Form 8-K filing from IDEXX LABORATORIES, INC. on July 14, 2015, primarily announces a change in its Board of Directors. The company elected Bruce L. Claflin as an independent Class I Director, effective July 14, 2015. This election led to an increase in the total number of directors from eight to nine, and the number of Class I Directors from two to three. Mr. Claflin's appointment fills a vacancy created by the previous reduction in board size following the retirement of Robert J. Murray. He is expected to serve a three-year term, standing for stockholder election in 2018. Mr. Claflin will receive standard director compensation, prorated for his partial year of service in 2015. The company also issued a press release detailing this appointment.

Key Highlights

  • 1IDEXX LABORATORIES, INC. elected Bruce L. Claflin as an independent Class I Director to its Board of Directors on July 14, 2015.
  • 2The Board size was increased from eight to nine directors to accommodate Mr. Claflin's election.
  • 3The number of Class I Directors was increased from two to three.
  • 4Mr. Claflin's appointment is expected to fill a vacancy resulting from previous board size adjustments.
  • 5Mr. Claflin will receive compensation consistent with other non-employee Directors, prorated for his service.
  • 6An award of stock units and options will be granted to Mr. Claflin on September 1, 2015, also prorated.
  • 7A press release regarding Mr. Claflin's election was issued on July 14, 2015.

Frequently Asked Questions

Bruce L. Claflin has been elected as an independent Class I Director to the Board of Directors of IDEXX LABORATORIES, INC. His appointment is part of the company's governance, filling a vacancy and maintaining the board's structure and oversight.

The election of Mr. Claflin resulted in an increase in the total number of directors from eight to nine. The number of Class I Directors also increased from two to three.

Mr. Claflin will receive the same compensation as other non-employee directors of the Company. This compensation, including cash fees and stock grants, will be prorated to reflect his partial year of service starting from his election date on July 14, 2015.

It is expected that Mr. Claflin will stand for election by stockholders as a Class I Director at the 2018 annual meeting of stockholders, for a three-year term expiring in 2021.