LipoScience (NASDAQ:LPDX) interim CEO Robert Greczyn will be paid a base salary of $44,667 per month, according to a securities filling.
Greczyn stepped in as interim CEO of the Raleigh diagnostics company in August when the company announced that former CEO Richard Brajer was leaving “to pursue other interests.” Brajer’s departure came as LipoScience was having difficulty building sales for its diagnostic for cardiovascular disease risk.
Greczyn is a former long-time top executive at Blue Cross Blue Shield North Carolina.
The securities filing says that LipoScience’s board approved Greczyn’s compensation on Sept 13. The $44,667 monthly salary covers the period of Aug. 1 through Dec. 31. If Greczyn is still interim CEO at the end of the year, he will be eligible for a bonus of up to $134,000.
The actual bonus award will be determined by the compensation committee of the board.
The board also awarded Greczyn 7,969 restricted stock units and the option to purchase 47,807 shares of common stock. One fourth of these equity awards would vest upon being granted; the rest will vest in three quarterly installments through March 31, 2014.
Greczyn will have to stick with LipoScience in order to see the full awards. Vesting of the stock is subject to Greczyn continuing to serve with LipoScience as of the vesting dates.
Shares in LipoScience closed at $5.09 Thursday, down 1.17 percent.
