Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 5, 2023, The Beauty Health Company (the "Company") promoted its
current Executive Vice President of Sales (Americas), Daniel Watson, to the
position of Chief Revenue Officer.
Mr. Watson has served as the Company's Executive Vice President of Sales for the
U.S. and Canada since March 2017, and in 2020, took leadership for all of the
Americas. Mr. Watson has 35 years of medical device sales experience and has
managed the Company's capital sales teams and business development teams in the
medical, non-medical, and corporate channels. In his new role, Mr. Watson will
assume responsibility for the Company's global sales operations and growth,
driving focus and synergy across all markets. Mr. Watson received his B.A. from
Bates College in Economics.
In connection with his promotion, Mr. Watson's (i) annual base salary will
increase from $371,196.54 to $400,000, effective January 1, 2023, and (ii)
annual incentive bonus target will increase from 60% of his base salary to 70%
of his base salary (the "Annual Bonus"). The actual amount of the Annual Bonus
will be determined based on the achievement of specified levels of performance
goals set by the Company's Board of Directors, and shall be payable at such
time(s) as annual bonuses are generally paid to senior executives of the
Company, subject to Mr. Watson's continued employment with the Company through
the applicable payment date.
There is no family relationship between Mr. Watson and any director or executive
officer of the Company. Except as set forth herein, there is no arrangement or
understanding between Mr. Watson and any other person pursuant to which Mr.
Watson was appointed as Chief Revenue Officer of the Company. There are no other
transactions with Mr. Watson that would require disclosure under Item 404(a) of
Regulation S-K.
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