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SUBSEQUENT EVENTS | 6 Months Ended
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Jun. 30, 2025
SUBSEQUENT EVENTS |
SUBSEQUENT EVENTS | (16) SUBSEQUENT EVENTS Chief Executive Officer Update On June 30, 2025, the Company announced that the the Board of Directors (the “Board”) of Zynex, Inc. (the “Company”) appointed Steven Dyson to serve as Chief Executive Officer of the Company, effective August 18, 2025. Mr. Dyson will succeed Thomas Sandgaard, who chose to retire his position as Chief Executive Officer, also effective August 18, 2025. ​ Mr. Sandgaard will remain actively involved with the Company in his continuing roles as Chairman of the Board and Chair of the Board’s Technology Committee. ​ In connection with his appointment as Chief Executive Officer, on May 23, 2025, Mr. Dyson entered into an employment agreement with the Company (the “Agreement”) pursuant to which his employment with the Company would commence on August 18, 2025. Pursuant to the Agreement, the Company agreed to pay Mr. Dyson an initial annual base salary of $750,000 and will be eligible for an annual discretionary bonus equal to up to one hundred percent (100%) of his base salary, subject to achievement of certain performance criteria established by the Compensation Committee of the Company’s Board of Directors. Mr. Dyson will also be entitled to participate in the Company’s employee benefit plans generally available to executive officers. In lieu of an initial and annual equity grants, Mr. Dyson will also be entitled to receive a success fee (as defined in the Agreement) in the event of a change of control of the Company (as defined in the Agreement). Mr. Dyson’s right to the success fee vests on each quarterly anniversary of his start date at the Company. The Agreement provides for certain benefits and payments to be made upon a termination of the Agreement as set forth therein. The Agreement includes certain restrictive covenants, including non-solicitation of employees and covenants not to compete. ​ Chief Financial Officer Update ​ On July 24, 2025, Dan Moorhead notified the Company of his decision to resign from his position as Chief Financial Officer of the Company, effective as of August 29, 2025. Mr. Moorhead’s resignation is not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies, or practices. ​ In connection with his resignation, Mr. Moorhead is expected to enter into a consulting agreement with the Company to assist with the transition of his responsibilities and to provide advisory support for a limited period of time. The terms of such agreement will be disclosed once finalized. ​ Thomas Sandgaard, the current Chairman and Chief Executive Officer, will be working with Steven Dyson, the Company’s incoming Chief Executive Officer, and the Board of Directors to identify and appoint a new Chief Financial Officer. ​ One Big Beautiful Bill Act ​ On July 4, 2025, President Donald Trump signed into law the reconciliation tax bill, commonly referred to as the “One Big Beautiful Bill Act” (OBBBA), which constitutes the enactment date under U.S. GAAP. Key corporate tax provisions of the OBBBA include the restoration of 100% bonus depreciation, the introduction of the new Section 174A permitting immediate expensing of domestic research and experimental (R&E) expenditures, modifications to Section 163(j) interest expense limitations, updates to the rules governing global intangible low-taxed income (GILTI) and foreign-derived intangible income (FDII), amendments to energy credit provisions, and the expansion of Section 162(m) aggregation requirements. ​ Under U.S. GAAP, the effects of changes in tax laws are recognized in the period in which the new law is enacted. Accordingly, the impact of the OBBBA will be reflected in the Company’s financial statements for the quarter ended September 30, 2025. The Company is currently evaluating the impact of the OBBBA, and based on preliminary analysis, does not expect the new legislation to have a material effect on its consended consolidated financial statements. ​ Other Subsequent Events ​ Other than disclosed above, there were no additional subsequent events identified through July 31, 2025. ​ ​

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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