Note 20 - Subsequent Events |
12 Months Ended |
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Dec. 31, 2022 | |
| Notes to Financial Statements | |
| Subsequent Events [Text Block] |
20. SUBSEQUENT EVENTS
Separation of Chief Operation Officer
On February 7, 2023, the Company announced the separation of Soeren Maor Sinay as Chief Operating Officer, effective March 6, 2023. On March 1, 2023, Mr. Sinay and Venus Concept UK Limited (“Venus UK”) entered into a Settlement Agreement (the “Settlement”). Pursuant to the terms of the Settlement, Mr. Sinay is entitled to receive, in connection with his separation, an aggregate total of in accordance with the payment schedule set forth in the Settlement. In addition, Mr. Sinay’s granted and unvested options, including RSUs granted in March 2022, will continue to vest in the regular course per the vesting schedule of the respective grant until June 15, 2024 (the “Final Vesting Date”). Mr. Sinay will have ninety (90) days from the Final Vesting Date to exercise any vested but unexercised options. Venus UK will also contribute toward Mr. Sinay’s personal pension and in respect of Mr. Sinay’s legal and accounting fees incurred in connection with the Settlement. The Settlement provides for a general waiver and release of claims in favor of the Company and its affiliates and other customary provisions, including indemnification, non-disclosure, and confidentiality provisions.
Sale of Stock to LPC
Between January 1, 2023, and March 22, 2023, the Company issued shares of common stock to Lincoln Park at an average price of per share. See Note 16 for further information regarding the 2022 LPC Purchase Agreement.
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