Aspect Medical Systems Inc. named Vincent Scialli to the company’s Class III board of directors.
The election of Scialli apparently puts an end to a proxy challenge by First Biomed LLC, first reported by MassDevice in March.
Scialli is one of three members of a First Biomed trio the investment firm demanded to seat on the board, to create what it called a “special committee of independent directors to study ways to optimize the company’s capital structure and otherwise maximize stockholder value,” according to a Securities and Exchange Commission filing.
The ensuing kerfuffle forced Norwood-based brain monitoring equipment maker to delay its annual meeting, before agreeing to support the nomination of First Biomed’s Jon Biro and Melvin Keating at its June 5 shareholders meeting.
Aspect Medical has a three-tiered board, ranked in order of seniority, with Class III denoting the most recently bestowed seats. The company also announced that James Mahoney would be moving into a Class I seat as a result of the April 9 settlement with First Biomed.