Shockwave Medical (SWAV) has provided an update.
Shockwave Medical, Inc. has announced a significant move, agreeing to merge with Johnson & Johnson, becoming a fully owned subsidiary. To ensure leadership continuity, Shockwave’s President and Chief Commercial Officer, Isaac Zacharias, has signed a retention agreement, guaranteeing him a hefty $2.1 million retention bonus, provided he remains with the company until the first anniversary post-merger. The deal also promises continuity in Zacharias’s salary and bonus eligibility, with specified conditions for early termination benefits, underscoring the strategic importance of executive stability in major corporate mergers.
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