Day: April 9, 2017

Medical tech company Vasoptic Medical raises $1.5 million

VasopticBALTIMORE, MD — Vasoptic Medical Inc., a Baltimore-based medical technology company, raised $1.5 million in a private equity offering, according to a filing with the Securities and Exchange Commission.

Vasoptic Medical filed a Form D on April 7. It did not disclose what it intended to do with the proceeds.

The company was founded in 2012 by M. Jason Brooke and Abhishek Rege based on technology developed by Rege while studying at Johns Hopkins University.

The technology is a portable retinal imager that examines retinal microvasculature and is making a significant impact on the prevention of vision loss associated with diabetes.

It has implemented its product in primary care and community clinics. It is  low-cost and easy to use technique that monitors the progression of various metrics that are commonly found in retinal diseases.

The Maryland Technology Development Corp. chose Vasoptic Medical for financial investment from the Life Science Investment Fund in 2016. Companies chosen by TEDCO are given an investment of up to $200,000 in order to advance their products commercialization.

This story is from the Maryland Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism

 

Chesapeake Lodging CEO Francis compensation falls 6 percent

Chesapeake LodgingANNAPOLIS, MD – James Francis, president and chief executive of Chesapeake Lodging Trust, saw his compensation fall to $4.5 million in 2016, compared to $4.8 million in 2015, according to a filing with the Securities and Exchange Commission.

The drop in total compensation reflected a 50.8 percent decrease in the chief executive’s compensation from Chesapeake’s non-equity incentive plan. The incentives totaled only $323,000 for Francis in 2016, compared to $657,000 in 2015.

The cash bonus incentives are awarded to executives based on their achievement of pre-determined performance goals.

Chesapeake reported annual income of $76.7 million in 2016, but despite net income growth of 13.6 percent last year, the company performed below analysts’ income expectations in its three most recent quarters.

As a result, Chief Financial Officer Douglas Vicari and Chief Operating Officer D. Rick Adams also saw their total compensation fall in 2016, each by 4.8 percent. The executives each made $2.0 million in total compensation for the year.

Meanwhile, the company’s chief accounting officer, Graham Wootten, saw a slight uptick in his total compensation, which was slightly above $1.2 million for the year. His decrease in incentive-related compensation was offset by a $50,000 increase in share awards for the year.

Annapolis-based Chesapeake Lodging Trust is a self-advised real estate investment trust focused on investments in upscale hotels and select-service premium hotels. The company completed its initial public offering in January 2010 and now owns 22 properties across the nation.

Chesapeake Lodging will hold its annual shareholder meeting on May 17 at the Courtyard Washington Capitol Hill, its sole D.C. property. The company will release first-quarter earnings results on April 25.

Shares of Chesapeake Lodging’s stock closed at $23.22 on Friday, falling 2.0 percent on the day of the filing.

The filing can be found here.

This story is from the Maryland Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism

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