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Cutera Inc. (NASDAQ:CUTR), a company specializing in electromedical and electrotherapeutic apparatus currently valued at $9.59 million, announced board changes in a recent SEC filing. The company, which carries a substantial debt burden of $433.45 million and reported negative EBITDA of $132.97 million in the last twelve months, saw Jeri Hilleman resign from the board of directors on Monday, effective immediately. Her departure was not due to any disagreement with the company’s operations, policies, or practices. According to InvestingPro analysis, the company faces significant financial challenges, with 12 key investment insights available to subscribers.
Following Hilleman’s resignation, Cutera appointed Paul Wierbicki to the board on Tuesday. Wierbicki, who has no material interest in any transaction with the company that needs to be disclosed, will receive a monthly fee of $25,000 for his board service. This arrangement sets his compensation at a minimum of $75,000 and suspends the standard outside director compensation program for him. With the company’s next earnings report due on February 19, investors can access comprehensive financial analysis and Fair Value estimates through InvestingPro’s detailed research reports.
Wierbicki also signed the company’s standard form of indemnification agreement, which was filed with the SEC in 2019. While the company maintains a healthy current ratio of 2.88, indicating sufficient liquid assets to meet short-term obligations, investors should note the challenging financial position reflected in its market performance. The information is based on a press release statement.
In other recent news, Cutera Inc. has announced special one-time cash bonuses for its executive officers, as per a recent SEC filing. The bonuses are scheduled for payment on December 15, 2025, with conditions attached to the disbursement. If any of the executives depart from the company on or before March 31, 2025, they are required to repay the full amount, unless the separation is due to specific exceptions defined in their agreement.
In a separate development, Cutera Inc. has received a notice from Nasdaq stating that it no longer meets the minimum market value requirement for continued listing on the Nasdaq Global Select Market. The company has been given a deadline of May 19, 2025, to regain compliance. If the company fails to meet the requirement by the deadline, it may face delisting.
These are recent developments for Cutera Inc. The company is actively monitoring its market value and exploring available options to address the deficiency and regain compliance. These developments have been verified through recent SEC filings.
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