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LIVN 8-K filings in 2024
Every material Form 8-K LivaNova filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
LivaNova reported third-quarter 2024 results for the period ended September 30, 2024, with revenue of $318.1 million, up 11.2% from a year earlier, and GAAP diluted earnings of $0.60 per share compared with a loss of $0.14 per share in the prior-year quarter. The company also raised its full-year 2024 guidance, now expecting adjusted diluted earnings per share of $3.30 to $3.40. For shareholders, the filing shows higher sales, higher profit and a higher outlook, with the full press release furnished as Exhibit 99.1.
Third-quarter revenue was $318.1 million, up 11.2% from $286.1 million in the third quarter of 2023.
GAAP diluted EPS was $0.60 versus a loss of $0.14; adjusted diluted EPS was $0.90 versus $0.73.
Full-year 2024 adjusted diluted EPS guidance is now $3.30 to $3.40; constant-currency revenue growth guidance is 8.5% to 9.5%.
Full-year 2024 adjusted free cash flow is now expected to be $110 million to $130 million.
LivaNova's board appointed Susan Podlogar, a former MetLife executive, as a director and a member of the Compensation and Human Capital Management Committee, effective October 8, 2024. Her pay is set under the company's standard non-employee director policy, which the filing says is prorated for fiscal 2024, and she has no undisclosed related-party transactions. The change adds a director with human resources and executive compensation experience, but the filing reports no effect on financial results.
Susan Podlogar, 61, appointed to the board on October 8, 2024.
Also named to the Compensation and Human Capital Management Committee.
Retired in June 2024 as EVP and Chief Human Resources Officer at MetLife, where she served from July 2017.
Annual compensation: $60,000 board retainer, $8,000 committee fee, and $180,000 restricted stock award, prorated for fiscal 2024.
LivaNova said its Chief Human Resources Officer, Trui Hebbelinck, will leave her position on September 30, 2024 and begin garden leave, and it has retained an external search firm to find a successor. Under a settlement agreement dated September 7, 2024, she receives a prorated on-target fiscal 2024 bonus, a severance payment of £232,000, and certain other benefits, which the filing describes as a cost of the departure.
Departure effective September 30, 2024; garden leave runs under a 12-month contractual notice period, ending September 30, 2025 unless she elects to end it early
Settlement agreement dated September 7, 2024 includes a £232,000 severance payment and a prorated on-target fiscal 2024 bonus paid in October 2024
Outplacement counseling capped at £20,000 plus tax; legal fees reimbursed up to £25,000 plus tax
Ms. Hebbelinck will not qualify for a fiscal 2025 bonus and will receive no new equity awards; existing awards continue to vest
LivaNova reported second-quarter 2024 revenue of $318.6 million, up 8.4% from a year earlier, and adjusted diluted earnings per share of $0.93 versus $0.78. The company raised its full-year 2024 revenue and adjusted earnings per share guidance, which signals improved expected results for shareholders.
Q2 2024 revenue of $318.6 million rose 8.4% on a reported basis and 9.6% on a constant-currency basis
Q2 2024 U.S. GAAP diluted EPS was $0.30, compared with $0.02 in Q2 2023; adjusted diluted EPS was $0.93, compared with $0.78
Full-year 2024 adjusted diluted EPS is now expected to be $3.10 to $3.20, and constant-currency revenue growth 7% to 8%
A $6.6 million increase in the Italian payback law reserve reduced net revenue
At its June 11, 2024 annual general meeting, LivaNova shareholders approved amendments that increase share reserves under its 2022 and 2015 incentive plans and extend the 2015 plan to April 17, 2034. All nine director nominees were elected to terms ending at the 2025 meeting, and shareholders approved the advisory say-on-pay vote, with the board deciding to hold these votes every year.
The 2022 plan's option and SAR share cap rises from 2,250,000 to 2,950,000, and its other-award cap rises from 1,500,000 to 2,000,000.
The 2015 plan's non-employee director share limit rises from 50,000 to 150,000, and its expiration moves to April 17, 2034.
Say-on-pay passed with 43,234,362 votes for and 2,174,138 against.
Shareholders voted for the frequency of say-on-pay votes, with 22,170,368 votes for one year, the level the board adopted.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every LivaNova filing is on SEC EDGAR ↗. 8-K briefs of other companies →