(Edgar Glimpses Via Acquire Media NewsEdge)
Item 5.02 Departure of Directors or Certain Officers;
Election of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
Hanger, Inc. (the "Company") announced that on February 6, 2014 the Company's
Board of Directors (the "Board") elected Richard R. Pettingill as a director of
the Company to serve until the 2014 annual meeting of stockholders of the
Company and until his successor is elected and qualified.
Mr. Pettingill served as President and Chief Executive Officer of Allina
Hospitals and Clinics, a network of healthcare providers in Minneapolis,
Minnesota, from 2002 until 2009. While in this role, he also served on the
board of directors of the Minnesota Hospital Association and the Minnesota
Business Partnership. Prior to joining Allina Hospitals and Clinics,
Mr. Pettingill served as Executive Vice President and Chief Operating Officer of
Kaiser Foundation Health Plans and Hospitals from 1996 to 2002. From 1991 to
1995, he served as President and Chief Executive Officer of Camino Healthcare.
He serves on the board of directors of two other public companies, Accuray
Incorporated and Tenet Healthcare Corporation. Mr. Pettingill received a
bachelor's degree from San Diego State University and a master's degree in
health care administration from San Jose State University.
As a non-employee director, Mr. Pettingill will be compensated in accordance
with the Company's compensation policies for non-employee directors, which are
as described in the Company's proxy statement filed with the Securities and
Exchange Commission. Upon his election to the Board, Mr. Pettingill received a
pro-rata portion of the annual cash retainer payable to directors, as well as a
pro-rata portion of the annual grant of 5,525 shares of the Company's common
There is no arrangement or understanding between Mr. Pettingill and any other
person pursuant to which Mr. Pettingill was elected as a director of the
Company, and there are no transactions in which Mr. Pettingill has an interest
requiring disclosure under Item 404(a) of Regulation S-K. Mr. Pettingill has
not yet been appointed to serve as a member of any committee of the Board.
Mr. Pettingill was elected by the Board to fill a vacancy created by the Board
when it increased the size of its Board from eight to nine directors pursuant to
its authority to determine the size of the Board by resolution granted to it
under the Amended and Restated By-Laws of the Company.
The Company issued on February 10, 2014 a press release announcing
Mr. Pettingill's election to the Board, which press release is filed herewith as
Item 9.01 Financial Statements and Exhibits.
(99.1) Press release of Hanger, Inc. issued February 10, 2014.