A medtech startup in Cary is looking to raise cash from investors, and executives at INC Research received big bumps in compensation for 2016, according to recent filings.

Here are the details:

  • Cary-based ZK MedTech files to raise $180,000

By Elizabeth Fleischer, NCBNW

CARY — A North Carolina-based aesthetic company filed to raise $180,000 in equity, according to a filing with the Securities and Exchange Commission.

ZK MedTech LLC filed a Form D signed by Renzo Zaldivar and Peter Kreymerman on April 14.

The company, formed in 2017, deals in the cosmetic and medical aesthetic procedures. The company has a trademark for UVIIVA.

So far, $50,000 has been raised from one investor.

Zaldivar is the CEO o the company. He has training in both ophthalmology and plastic surgery, which has granted him special recognition and membership into the prestigious American Society of Ophthalmic Plastic and Reconstructive Surgeons. Since 2009, Consumers’ Research Council of America has listed him in America’s Top Ophthalmologists.

This is a new notice with the first date of sale on April 4. None of the money will go toward executive salary, and the offering is not being made in conjunction with a business combination transaction. There is no minimum investment accepted.

The company claimed a Rule 506 (b) exemption for the filing. Companies relying on the Rule 506 exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.

  • INC Research new CEO’s compensation tripled in 2016

By Will Harris, NCBNW

RALEIGH — CEO Alistair Macdonald of Raleigh’s Inc Research Holdings had total compensation of $4.3 million in 2016, almost three times the $1.45 million he received in 2015, according to a filing with the Securities and Exchange Commission. [inc research logo]

The increase in compensation was tied mostly to $2.5 million in stock awards Macdonald received in 2016, which were associated with his promotion from chief operating officer to chief executive officer.

Gregory S. Rush, executive vice president and chief financial officer, saw his total compensation more than double to $3.25 million from $1.4 million in 2015.

Chief Operating Officer Michael Gibertini also saw his total yearly pay increase to $3.1 million from $1.3 million in 2015.

According to the SEC filing, the executive pay increases reflect a small increase in base salary, but are driven mainly by a dramatic increase in equity awards associated with a “special retention incentive awards” plan made in September 2016.

The company announced in July 2016 that Alistair Macdonald would replace Jamie Macdonald as Chief Executive Officer, effective Oct. 1, 2016.

Following the July 2016 announcement of the CEO transition, the company granted special one-time long term incentives and cash awards to executives. The awards were intended to help retain executives during the transition period.

The special incentive awards amount to approximately three times an executives’ annual salary and consist of a combination of long and short-term incentives. More than 80 percent of the special awards will be paid through restricted stock units vesting over 3 years.

Outgoing CEO Jamie Macdonald received $5.28 million in compensation in 2016, up from $3.2 million in 2015. The increase in total compensation can be attributed to $3.4 million worth of stock awards, up from $1 million in 2015.

INC Research Holdings is a contract research organization that provides clinical development services for Phase I to Phase IV testing of medical devices and medications. The company specializes in research with a deep therapeutic focus.

In terms of full-year guidance, the company expects net service revenue between $1 billion and $1.1 billion, and adjusted diluted EPS between $2.63 and $2.75 per share.

The consensus analyst estimate for full-year earnings is $2.42 per share, according to Zack’s Investment Research based on estimates from eight analysts.

Note: North Carolina Business News Wire is a service of UNC-Chapel Hill’s School of Media and Journalism