UTMD Utah Medical Products Inc

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (date of earliest event reported):  November 1, 2024

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

ITEM 5.02— DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.

On November 1, 2024, the Board of Directors of Utah Medical Products, Inc. (UTMD) voted to increase the size of the Board of Directors from five to six members and to appoint Carrie Leigh to fill the vacancy created by the increase in the number of directors. Ms. Leigh will serve on the Board’s Compensation and Benefits committee.

Ms. Leigh was employed in direct sales positions with UTMD from 2004 to 2016, finishing her time with UTMD as its manager of Global Direct End User Sales. Since 2017, Ms. Leigh has been working as a lean merchandising and ecommerce consultant. Ms. Leigh, who is the daughter of UTMD’s CEO Kevin Cornwell, has an MBA from the Northwestern University Kellogg School of Management and a B.S. in Communications from Santa Clara University.

As a member of the Board of directors, Ms. Leigh received a grant of 10,000 options with an exercise price of $64.09 per share that will vest over a four-year period if she remains a member of the Board of Directors, and will receive the UTMD standard Board Member fee of $7,350 per quarter, which will be pro-rated for the final quarter of 2024.

ITEM 8.01—OTHER EVENTS

On November 5, 2024, Utah Medical Products, Inc. announced that it is increasing its regular quarterly cash dividend.  A dividend of $.305 per share is payable on January 3, 2025 to shareholders of record at the close of business on December 16, 2024.  A copy of the press release is attached hereto as Exhibit 99.1.

ITEM 9.01—FINANCIAL STATEMENTS AND EXHIBITS

The following is filed as an exhibit to this report:  

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*All exhibits are numbered with the number preceding the decimal indicating the applicable SEC reference number in Item 601 and the number following the decimal indicating the sequence of the particular document.  

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

EXHIBIT 99.1

Utah Medical Products, Inc. Appoints Director and Increases Quarterly Dividend

Salt Lake City, Utah - Utah Medical Products, Inc. (Nasdaq: UTMD) announces that its Board of Directors has appointed Carrie Leigh to its Board of Directors.  Ms. Leigh, who was employed in direct sales positions for UTMD from 2004 to 2016, graduated with a B.S. in Communications from Santa Clara University and an MBA from the Northwestern University Kellogg School of Management.  As she served in her last position as UTMD’s manager of Global Direct End User Sales, the Board believes her robust understanding of the functional and strategic challenges that the Company faces will be integral for achieving future revenue growth.

In addition, the Board of Directors approved a quarterly cash dividend of thirty and one-half cents ($.305) per share of common stock payable on January 3, 2025 to shareholders of record at the close of business on December 16, 2024.  This is a 1.7% increase over the prior regular quarterly cash dividend.

Utah Medical Products, Inc., with particular interest in health care for women and their babies, develops, manufactures and markets a broad range of disposable and reusable specialty medical devices recognized by clinicians in over a hundred countries around the world as the standard for obtaining optimal long term outcomes for their patients.  For more information about Utah Medical Products, Inc., visit UTMD’s website at www.utahmed.com.