Alphatec Sneaks In New SVP Sales & Marketing

Alphatec Holdings (Nasdaq:ATEC) has recently hired a new SVP of Sales and Marketing. The 8K was filed Oct 18. The employment agreement is dated Oct 12. That to me is a week. The new hire Mr. M Ross Simmonds will be receiving an annual salary of $315,000 plus generous cash bonuses. As well stock options on 125,000 shares vesting equally over five years with a change of control clause is included.

I mentioned Alphatec in my Weekend Follies of Oct 7 because they issued late news on another matter when investors are not looking. The company claims to have missed their sales numbers so this guy should be important. Just two things: Firstly no press release was issued just a backdoor 8K. Secondly no background information on this guy. Should have some noise with the marketing and sales guy! This is a key position investors need to feel comfortable with this individual.

Company is much too secretive.