Leadership & Pay ·
Milestone Scientific Inc. announced significant leadership and governance changes
MLSSMilestone Scientific Inc.
Milestone Scientific Inc. announced significant leadership and governance changes. The Board appointed Kelly Ulto and Greg Shilling as independent directors, with Ulto serving as Audit Committee Chair. Benedetta Casamento was elected Executive Chairman, receiving a $75,000 annual supplemental cash salary and a one-time $100,000 restricted stock grant. Additionally, the company amended an agreement with former CEO Leonard Osser to reduce his employment compensation to $48,000 annually in cash and terminate previous consulting agreements. The filing also reaffirmed details regarding $800,000 in Convertible Bridge Notes and a recent private placement of 7,962,963 units at $0.27 per unit. Milestone Scientific Inc. is a life sciences company that provides products and services to the pharmaceutical and biotechnology industries.