<SEC-DOCUMENT>0000950123-11-034923.txt : 20110412
<SEC-HEADER>0000950123-11-034923.hdr.sgml : 20110412
<ACCEPTANCE-DATETIME>20110412155615
ACCESSION NUMBER:		0000950123-11-034923
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20110406
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
FILED AS OF DATE:		20110412
DATE AS OF CHANGE:		20110412

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ZYNEX INC
		CENTRAL INDEX KEY:			0000846475
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845]
		IRS NUMBER:				870403828
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	033-26787-D
		FILM NUMBER:		11754964

	BUSINESS ADDRESS:	
		STREET 1:		9990 PARK MEADOWS DRIVE
		CITY:			LONE TREE
		STATE:			CO
		ZIP:			80120
		BUSINESS PHONE:		(303) 703-4906

	MAIL ADDRESS:	
		STREET 1:		9990 PARK MEADOWS DRIVE
		CITY:			LONE TREE
		STATE:			CO
		ZIP:			80120

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ZYNEX MEDICAL HOLDINGS INC
		DATE OF NAME CHANGE:	20050812

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ZYNEX MEDICAL HOLDINGS   INC
		DATE OF NAME CHANGE:	20040120

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FOX RIVER HOLDINGS  INC
		DATE OF NAME CHANGE:	20031126
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>c15451e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<TITLE>Form 8-K</TITLE>
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<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>

<P align="center" style="font-size: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P align="center" style="font-size: 10pt"><B>Date of Report (Date of earliest event reported): April 6, 2011</B>

<P align="center">

<P align="center" style="font-size: 24pt"><B>Zynex, Inc.<BR></B>
<FONT style="font-size: 10pt">(Exact name of registrant as specified in its charter)
</FONT>

<TABLE border="0" width="100%" cellspacing="0" cellpadding="0" style="font-size: 10pt; text-align: center">
<TR>
    <TD width="32%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="33%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="32%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD style="border-bottom: 1px solid #000000"><B>Nevada</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>33-26787-D</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>90-0275169</B></TD>
</TR>
<TR valign="top">
    <TD>(State or other Jurisdiction of Incorporation)</TD>
    <TD>&nbsp;</TD>
    <TD>(Commission File Number)</TD>
    <TD>&nbsp;</TD>
    <TD>(IRS Employer Identification No.)</TD>
</TR>
</TABLE>

<TABLE border="0" width="100%" cellspacing="0" cellpadding="0" style="font-size: 10pt; text-align: center">
<TR>
    <TD width="49%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="49%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD style="border-bottom: 1px solid #000000"><B>9990 Park Meadows Drive<BR>Lone Tree, Colorado</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>80124</B></TD>
</TR>
<TR valign="top">
    <TD>(Address of Principal Executive Offices)</TD>
    <TD>&nbsp;</TD>
    <TD>(Zip Code)</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt">Registrant&#146;s telephone number, including area code: <B>(303) 703-4906</B>


<TABLE border="0" width="30%" cellspacing="0" cellpadding="0" style="font-size: 10pt; text-align: center">
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    <TD nowrap style="border-bottom: 1px solid #000000"><B>&nbsp;</B></TD>
</TR>
<TR>
    <TD nowrap>(Former name or former address if changed since last report.)</TD>
</TR>
</TABLE>

<P align="left" style="font-size: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:

<P align="left" style="font-size: 10pt">
<FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


<P>
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<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt; display: none">1
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>Item&nbsp;5.02.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements with Certain Officers.</B></TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt; text-indent: 4%">On April&nbsp;6, 2011, the independent members of the Board of Directors of Zynex, Inc. (the &#147;Company&#148;) approved the
2011 compensation for Thomas Sandgaard, the Company&#146;s President and Chief Executive Officer, and Anthony Scalese, the
Company&#146;s Chief Financial Officer.


<P align="left" style="font-size: 10pt; text-indent: 4%">Mr.&nbsp;Sandgaard&#146;s base salary was increased to $385,000 and Mr.&nbsp;Scalese&#146;s base salary was increased to $175,000,
each effective as of April&nbsp;1, 2011. Mr.&nbsp;Scalese was granted 30,000 options to purchase Company common stock. Mr.&nbsp;Scalese was also granted an additional 50,000 options to purchase Company common stock, which
will vest upon achievement of the Company&#146;s target 2011 earnings per share and Mr.&nbsp;Scalese&#146;s continued employment with
the Company through three days following the filing of the Company&#146;s 2011 Form 10-K. The vesting of such stock option
grant will be prorated upon the Company&#146;s achievement of between 90% and 100% of the 2011 earnings per share target.


<P align="left" style="font-size: 10pt; text-indent: 4%">Messrs.&nbsp;Sandgaard and Scalese will also be eligible for quarterly cash bonus payments effective for the first
quarter of 2011 based on achievement of certain quarterly: (i)&nbsp;revenue; (ii)&nbsp;earnings per share; and (iii)&nbsp;free cash
flow performance targets. A bonus is triggered upon achievement of over 90% of any such performance target and each
performance target is weighted equally. Mr.&nbsp;Sandgaard&#146;s maximum target bonus is $144,375 per quarter and Mr.&nbsp;Scalese&#146;s
maximum target bonus is $43,750 per quarter. The target cash bonus amount will be prorated between achievement of 90%
and 120% of the respective quarterly performance targets.

<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt; display: none">2
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

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<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>



<P align="left" style="font-size: 10pt; text-indent: 4%">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly authorized.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD colspan="2" nowrap align="left" style="border-bottom: 0px solid #000000"><B>Zynex, Inc.</B></TD>
</TR>
<TR valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date: April&nbsp;11, 2011
</DIV></TD>
    <TD>By:&nbsp;</TD>
    <TD align="left" valign="top">/s/ Anthony Scalese</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD nowrap align="left">&nbsp;</TD>
    <TD >&nbsp;</TD>
    <TD>Anthony Scalese<BR>
<I>Chief Financial Officer</I></TD>
</TR>
</TABLE>
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt; display: none">3




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