Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On
Biographical information and business experience with respect toMr. Coyle is included in the Company's Current Report on Form 8-K filed with theSecurities and Exchange Commission onDecember 14, 2020 and is incorporated herein by reference. As previously reported, in connection withMr. Coyle's appointment as the Company's President and Chief Executive Officer, (i) the Company entered into anOffer Letter withMr. Coyle , (ii)Mr. Coyle will participate in the Company's Executive Change in Control and Severance and Change in Control program and (iii)Mr. Coyle entered into the Company's standard form of indemnification agreement. A summary of these arrangements is included in Company's Current Report on Form 8-K filed with theSecurities and Exchange Commission onDecember 14, 2020 and is incorporated herein by reference. There are no arrangements or understandings betweenMr. Coyle and any other persons pursuant to which he was appointed as a director of the Company.Mr. Coyle has no family relationships with any of the Company's directors or executive officers, and, other than as described above,Mr. Coyle does not have any direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K. OnJanuary 25, 2021 , the Company entered into a transition agreement in connection with Kevin M. King's retirement as President and Chief Executive of the Company onJanuary 12, 2021 . In return for a release of claims byMr. King and his continued service on the Company's board of directors, the transition agreement provides him with: (i) continued reimbursement of COBRA premiums throughAugust 31, 2021 ; (ii) payment of a bonus for fiscal year 2020 to be paid out in equity; (iii) continued vesting of equity awards held byMr. King in connection withMr. King's continued service as a director, including the performance restricted stock unit award granted to him onFebruary 27, 2019 and prorated vesting of one-third of the shares subject to the performance restricted stock unit award granted toMr. King onFebruary 26, 2020 .Mr. King also entered into a consulting agreement to provide transition services to the incoming President and Chief Executive Officer,Michael J. Coyle and to assist with reimbursement matters.
The foregoing description is qualified in its entirety by the transition agreement and the consulting agreement filed herewith as Exhibit 10.1.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits. Exhibit No. Description Transition Agreement by and between iRhythm Technologies, Inc. and Kevin M. 10.1 King dated January 25, 2021 .
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