SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
September 22, 2022 (September 20, 2022)
Date of Report (Date of earliest event reported)
DENTSPLY SIRONA Inc.
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation or organization)
(Commission File Number)
(I.R.S. Employer Identification No.)
13320 Ballantyne Corporate Place,
(Address of Principal Executive Offices)
(Registrant's telephone number, including area code)
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 (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
|Title of each class||Trading Symbol(s)||Name of each exchange on which registered|
|Common Stock, par value $0.01 per share||XRAY||The Nasdaq Stock Market LLC|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 1.01 Entry into a Material Definitive Agreement.
On September 20, 2022, DENTSPLY SIRONA Inc. (the “Company”) obtained the consent of the requisite lenders under its revolving credit facility with JPMorgan Chase Bank, N.A., as administrative agent, to further extend the time period for delivery of the Company’s unaudited financial statements for the fiscal quarter ended June 30, 2022 (the “Q2 financials”) and the related certificates, from September 30, 2022 until November 7, 2022. As previously disclosed on the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on August 31, 2022, the holders of the Company’s private placement notes have previously agreed to extend the time period for delivery of such financial statements until the earlier of (i) November 7, 2022, or (ii) the date the Q2 financials are required to be delivered under the Company’s revolving credit facility or the date on which the Q2 financials are actually delivered under the revolving credit facility if such delivery occurs earlier than otherwise required.
The Audit and Finance Committee of the Company’s Board of Directors continues to work diligently with independent counsel and advisors to complete its previously announced investigation as soon as possible and the Company is working to finalize its financial statements as soon as practicable.
If the Company is unable to deliver the Q2 financials by the date required under its existing debt instruments (after giving effect to any applicable consents and grace periods), such failure would constitute an event of default under such debt instruments, which could also constitute a cross-default with respect to certain of the Company’s other outstanding debt agreements and which may have a material adverse effect on the Company.
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.
On September 22, 2022, the Company appointed Glenn G. Coleman as Executive Vice President and Chief Financial Officer of the Company effective as of September 26, 2022 (the “Effective Date”). As of the Effective Date, Mr. Coleman will succeed Barbara Bodem who has served as Interim Chief Financial Officer since May 6, 2022; however, the Company and Ms. Bodem entered into an amendment to her employment agreement, dated as of September 22, 2022, pursuant to which Ms. Bodem will continue her employment with the Company as an advisor to Mr. Coleman until October 24, 2022. Ms. Bodem will continue to receive the same monetary compensation in her role as advisor to Mr. Coleman as she did as Interim Chief Financial Officer.
Mr. Coleman, age 55, currently serves as the Executive Vice President and Chief Operating Officer of Integra LifeSciences Holdings Corporation (“Integra”), a leading global medical technology company, a position he has held since June 2019. In this role, Mr. Coleman oversaw operations and a majority of Integra’s talent force, including clinical, R&D, manufacturing and quality while also leading the international team. From May 2014 until June 2019, Mr. Coleman acted as Integra’s Corporate Vice President and Chief Financial Officer and was responsible for the finance department, including accounting and financial reporting, budgeting, internal audit, tax, treasury, investor relations, and information technology. Prior to joining Integra, Mr. Coleman spent 25 years in financial management positions with leading global businesses, including serving as vice president for finance and corporate controller at Curtiss-Wright Corporation. Mr. Coleman also worked at Alcatel-Lucent in various finance executive leadership positions. Mr. Coleman began his career at PricewaterhouseCoopers LLP. Mr. Coleman received his B.S. degree from Montclair State University and has also been a CPA in New Jersey for more than 25 years.
The Company has entered into an offer letter with Mr. Coleman pursuant to which he will serve as Executive Vice President and Chief Financial Officer of the Company (the “Offer Letter”). Pursuant to the Offer Letter, Mr. Coleman will be paid an annual base salary of $625,000, be eligible for a target annual bonus of 80% of base salary (on a pro-rated basis for 2022), receive a one-time sign-on bonus of $300,000, be eligible to receive a starting equity grant with a grant date fair value of $3 million in the following components: (a) 25% in the form of stock options vesting one-third per year over a three-year period, (b) 25% in the form of restricted stock units vesting one-third per year over a three-year period, and (c) 50% in the form of performance restricted stock units (“PRSUs”) with vesting based on achievement of the performance metrics associated with the 2022 PRSUs granted to other members of executive management, and, beginning in the Company’s fiscal year 2023, be eligible for annual long-term incentive compensation with a target expected grant date fair value of $2.5 million, with the actual grant date fair value to be determined at the discretion of the Board’s Human Resources Committee.
If Mr. Coleman (A) voluntarily resigns for “Good Reason” (as defined in the Key Employee Severance Benefit Plan (as may be amended, the “Severance Plan”)) or (B) is involuntarily terminated by the Company without “Cause” (as defined in the Severance Plan), outside of a change in control (each, a “Non-COC Qualified Termination”) and subject to his satisfaction of the conditions to severance described below, Mr. Coleman would be entitled to receive severance pay equal to (A) 1.0 times the sum of: (i) his annual base salary; (ii) his annual target bonus for the fiscal year including the date of termination; and (iii) 12 months of applicable monthly COBRA charges for continuation of medical, dental and vision insurances on a post-employment basis which are based on his active insurance coverage elections at the date of termination plus (B) a prorated annual bonus, if any, payable in the normal course with other executives based upon the actual achievement of performance targets for the fiscal year including the date of termination, plus (C) for any equity-compensation awards held pursuant to the Dentsply Sirona Inc. 2016 Omnibus Incentive Plan, as amended (the "Equity Plan"), if such awards provide for accelerated vesting in the event of termination without Cause, then such awards are also deemed to accelerate vesting in the event of a resignation with Good Reason.
If Mr. Coleman (A) voluntarily resigns for “Good Reason” (as defined in the Severance Plan) or (B) is involuntarily terminated by the Company without “Cause” (as defined in the Severance Plan), each during a change in control (as defined in the Severance Plan) (a “COC Qualified Termination” and, together with a Non-COC Qualified Termination, a “Qualified Termination”), and subject to his satisfaction of the conditions to severance described below, Mr. Coleman would be eligible to receive enhanced severance pay equal to (A) 2.0 times the sum of: (i) his annual base salary; (ii) his annual target bonus for the fiscal year including the date of termination; and (iii) 12 months of applicable monthly COBRA charges for continuation of medical, dental and vision insurances on a post-employment basis which are based on his active insurance coverage elections at the date of termination, plus (B) for any equity-compensation awards held pursuant to the Equity Plan, if such awards provide for accelerated vesting in the event of a “Change in Control” (as defined in the Equity Plan), then "Good Reason" for purposes of accelerated vesting under the Equity Plan shall instead be determined under the definition of Good Reason under the Severance Plan.
As a condition to Mr. Coleman’s receipt of severance benefits under the Severance Plan with respect to a Qualified Termination, Mr. Coleman must execute and not revoke a General Release and Waiver of all claims against the Company and all its Affiliates (as defined in the Severance Plan).
The Offer Letter also subjects Mr. Coleman to certain confidentiality obligations and two-year noncompetition/nonsolicitation restrictions.
The foregoing summaries of Mr. Coleman’s Offer Letter and the amendment to Ms. Bodem’s employment agreement are qualified in their entirety by reference to the text of the agreements, which are filed as Exhibits 10.1 and 10.2 hereto, respectively, and are incorporated herein by reference. The foregoing summary of the Severance Plan is qualified in its entirety by reference to the text of the Severance Plan, which was filed as Exhibit 10.1 to the Company’s Form 8-K dated May 31, 2022.
Item 7.01 Regulation FD Disclosure.
On September 22, 2022 the Company issued a press release announcing the appointment of Mr. Coleman. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
The information furnished in Items 7.01 and 9.01 to this Form 8-K, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any other filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Forward Looking Statements
All statements in this Current Report on Form 8-K that do not directly and exclusively relate to historical facts constitute “forward-looking statements.” These statements represent current expectations and beliefs, including regarding the Company’s internal investigation. Such statements are subject to numerous assumptions, risks, uncertainties and other factors, including those described in the section titled “Risk Factors” in Dentsply Sirona’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021. No assurance can be given that any expectation, belief, goal or plan set forth in any forward-looking statement can or will be achieved, and readers are cautioned not to place undue reliance on such statements which speak only as of the date they are made. The Company does not undertake any obligation to update or release any revisions to any forward-looking statement or to report any events or circumstances after the date of this Current Report Form 8-K or to reflect the occurrence of unanticipated events.
Item 9.01 Financial Statements and Exhibits.
|Offer Letter between DENTSPLY SIRONA Inc. and Glenn Coleman, entered into as of September 22, 2022|
|First Amendment to the Interim Chief Financial Officer Employment Agreement between DENTSPLY SIRONA Inc. and Barbara W. Bodem, dated as of September 22, 2022|
|DENTSPLY SIRONA Inc. press release dated September 22, 2022|
|104||Cover Page Interactive Data File (embedded within the Inline XBRL Document)|
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
DENTSPLY SIRONA Inc.
/s/ Cherée H. Johnson
|Cherée H. Johnson, Senior Vice President, |
|Chief Legal Officer, General Counsel and Secretary|
Date: September 22, 2022
13320-B Ballantyne Corporate Place
Charlotte, NC 28277
September 22, 2022
17 Carlisle Court
Chester, NJ 07930
Delivery via: e-mail
On behalf of Dentsply Sirona (the “Company”), I am pleased to offer you the role of Executive Vice President and Chief Financial Officer located in Charlotte, NC. In this position, you will report to Simon Campion, President and Chief Executive Officer. Your anticipated start date will be September 26, 2022, and is subject to receipt and review of your background check and drug screen results.
As a Dentsply Sirona employee, you will have the opportunity to shape an industry. Our brands have empowered dental professionals to provide better, safer, and faster dental care for over 100 years. Our high-performance culture hinges on our commitment to deliver meaningful innovation to dentists and patients all over the world. We foster an environment in which our teams feel inspired and empowered to do their best work, bringing new ideas to the table and creating robust solutions to our customers’ challenges. We value your experience and look forward to having you join the team that’s shaping the dental industry!
Your offer details covering compensation and benefits overview are below.
Base Salary: Your salary will be payable bi-weekly at a rate of $24,038.46, the annual equivalent of $625,000 and will be paid in accordance with Dentsply Sirona’s standard payroll practices, including standard withholdings and deductions as required by law.
Incentives: You will be eligible to participate in the Dentsply Sirona Annual Incentive Plan (AIP) according to its terms, as amended from time to time at the sole discretion of the Company. The plan is designed to encourage achievement of important business objectives. Your target annual incentive payout for a full year in the AIP program will be 80% of base salary. You will be eligible for an incentive payout based on the results of the AIP for the applicable performance period, prorated for your time in the role. Payouts will be made as soon as practicable after the end of the applicable performance period and no later than the end of the second fiscal quarter following the performance period to which the payments relate. Participants who leave the employment of the Company before the end of the Bonus Year, as defined in the AIP Plan Document, for any reason other than a qualifying reason as defined by the plan document or the Dentsply Sirona Inc. Key Employee Severance Benefits Plan, will receive no bonus payment for the Bonus Year. Bonuses are awarded at the sole discretion of Dentsply Sirona.
Annual Equity Award: Beginning in the Company’s fiscal year 2023, with respect to each Company’s fiscal year that commences during your employment (excluding fiscal year 2022), you will be eligible for an annual equity award with a target expected value of $2,500,000 (valued at the date of grant) in the following components (or such other mix of annual equity award components made to the Company’s senior executive officers): (i) 25% in the form of stock options vesting 1/3 per year over a three-year period, (ii) 25% in the form of restricted stock units (“RSUs”) vesting 1/3 per year over a three-year period, and (iii) 50% in the form of performance restricted stock units (“PRSUs”) with vesting based on achievement of the performance metrics and cliff vesting simultaneously with the PRSUs granted to other members of executive management. All equity awards and amounts are subject to the sole and absolute discretion of the Human Resources Committee of the Board of Directors and/or the Chief Executive Officer, and therefore cannot be guaranteed. Your annual equity award for 2023 will be granted on the second trading day after the date of the filing of the Fiscal Year 2022 annual report on 10-K. Refer to the Company’s 2016 Omnibus Incentive Plan, as amended, and Dentsply Sirona Inc. Key Employee Severance Benefits Plan documents for detailed information regarding equity treatment upon termination of employment.
One-time Equity Grant: You will be eligible for a one-time equity grant having a notional value of $3,000,000 (valued at the date of grant) in the following components (or such other mix of annual equity award components made to the Company’s senior executive officers): (i) 25% in the form of stock options vesting 1/3 per year over a three-year period, (ii) 25% in the form of restricted stock units (“RSUs”) vesting 1/3 per year over a three-year period, and (iii) 50% in the form of performance restricted stock units (“PRSUs”) with vesting based on achievement of the performance metrics and a 3-year cliff vesting period. The terms associated with the PRSUs granted above, including but not limited to the performance criteria, measurement period and vesting period, shall be the same as those associated with the Company’s existing 2022 PRSU grants. All equity awards and amounts are subject to the sole and absolute discretion of the Human Resources Committee of the Board of Directors and/or the Chief Executive Officer, and therefore cannot be guaranteed. Your one-time RSU grant will be granted on the second trading day after the date on which your employment with the Company begins, provided, that, if such grant date is not within the Company’s open trading window period, the grant date will instead be the second trading day after the date of the filing of the next periodic report on Form 10-Q or 10-K following the date on which your employment with the Company begins. Refer to the Company’s 2016 Omnibus Incentive Plan, as amended, and Dentsply Sirona Inc. Key Employee Severance Benefits Plan documents for detailed information regarding equity treatment upon termination of employment.
Sign On Bonus: You will be issued a one-time sign-on bonus of $300,000 less all applicable taxes and withholdings, payable in a one-time payment on your first payroll cycle. This bonus is considered an advance and is not earned unless and until you have been employed with Dentsply Sirona for one year. In the event you voluntarily elect to terminate your employment with Dentsply Sirona or if you are terminated from employment for any reason (other than as a result of a layoff) prior to one year from your date of hire, you will be required to repay the full sign-on bonus to Dentsply Sirona within forty-five (45) days of your last day of employment. By signing this offer letter, you agree to these terms.
Paid Time Off: As a full-time employee, you will be entitled to 25 days of paid time off (PTO) in addition to five (5) days of unscheduled paid time off (UPTO). Time off is accrued per pay period and is prorated based on your date of hire.
Benefits: You will also have the option of enrolling in our excellent benefits program, which includes health, dental, disability and life insurance. In addition, we offer an exciting 401(k) plan, of which details will be provided.
Supplemental Savings Plan: Dentsply Sirona offers eligible employees the opportunity to participate in our Dentsply Sirona Supplemental Savings Plan (DSSSP). This nonqualified plan can build significant tax-advantaged savings over time through compensation deferral. The Plan is designed to provide a way for eligible employees to accumulate pre-tax savings for retirement and other lifetime needs beyond the statutory limits applicable to the 401(k) plan.
Supplemental Executive Retirement Plan: You will also be eligible to participate in the Company’s Supplemental Executive Retirement Plan (the “SERP”). The purpose of the SERP is to provide additional retirement benefits for a limited group of management employees. Credits equal to 11.7% of total annual cash compensation (base salary and any annual incentive awards), reduced by Company contributions to the 401(k) plan, are allocated to SERP participants’ accounts. The SERP, including the administration of the plan and the associated contributions, are subject to the sole and absolute discretion of the Human Resources Committee of the Board of Directors.
Severance: You may be eligible for severance benefits in the event of termination of employment. Refer to the Dentsply Sirona Inc. Key Employee Severance Benefits Plan for detailed information.
Relocation: You are also eligible for relocation benefits, including limited temporary housing assistance. A summary of the relocation package is attached as well as the detailed policy. Please sign the final page of the policy and return with the other requested documents. We will then initiate your relocation with Cartus, our relocation company, closer to the date of your expected move. If you voluntarily elect to terminate your employment with Dentsply Sirona or if you are terminated from employment for Cause, as defined in the Dentsply Sirona Inc. Key Employee Severance Benefits Plan, prior to one year from your date of hire, you will be required to repay the relocation benefits you received within forty-five (45) days of your last day of employment. The foregoing repayment obligation is in lieu of any repayment obligation set forth in the detailed policy.
In addition, we expect that you are under no contractual or other restrictions which would prevent you from accepting employment with us or working with or calling on any of our customers and that you did not engage in any conduct that would have otherwise violated your duties and obligations to your prior employer. We also expect you to comply with any post-employment restrictions or other legal obligations that may apply to you related to the recruitment of employees or solicitation of customers of your former employer.
Nothing in this offer letter or any prior or subsequent communications to you shall in any way create an express or implied employment contract with you for a specific term. Rather, your employment with
Dentsply Sirona is and will be at the will of the Company and may be terminated at any time. You may likewise leave your employment with Dentsply Sirona at any time.
Attached is the Dentsply Sirona Inc. Confidentiality and Non-Competition Agreement which is an integral part of this offer of employment. To accept this offer, you must also agree to the conditions of the Confidentiality and Non-Competition Agreement by signing and returning that Agreement to the Company before your employment begins.
This offer will remain valid until and through September 23, 2022. Your agreement and signature on this offer letter initiate the next steps in the process. Once we receive the signed document through our electronic signature system, you will receive instructions via your email address regarding the background check and the substance abuse testing requirements.
The above offer is contingent on your ability to perform the essential functions of the job with or without reasonable accommodations, satisfactory results of a pre-employment background check and drug screen, and verification of your credentials and your employment eligibility. Further, in accordance with the Immigration Reform and Control Act of 1986, all new employees are required to provide documents as outlined on the Form I-9 within the first three working days.
Congratulations on your offer, we are excited to have you join the team. I have every confidence that you will make a significant contribution to the ongoing success of Dentsply Sirona and I look forward to working with you.
If you have any questions, please feel free to contact me.
/s/ Lisa Yankie
Senior Vice President, Chief Human Resource Officer
Accepted by: /s/ Glenn Coleman_______________ 9/22/2022_________
Glenn Coleman Date
TO THE EMPLOYMENT AGREEMENT
THIS FIRST AMENDMENT TO THE EMPLOYMENT AGREEMENT (this “Amendment”), dated as of September 22, 2022 (the “Amendment Date”), is entered into by and between Dentsply Sirona Inc., a Delaware corporation (the “Company”) and Barbara W. Bodem (the “Executive”) (collectively referred to herein as the “Parties”).
WHEREAS, the Executive is employed by the Company as Interim Chief Financial Officer pursuant to an Employment Agreement dated April 16, 2022 (the “Agreement”),
WHEREAS, pursuant to the Agreement, Executive shall cease to be the Company’s Interim Chief Financial Officer on the first day a permanent or successor Chief Financial Officer (CFO) approved by the Company’s Board of Directors (the “Board”) commences employment with the Company, and, unless otherwise determined by the Board, Executive shall cease to be employed by the Company on such date; and
WHEREAS, the Company wishes to retain the Executive as an employee as Advisor to the CFO once the new CFO is approved by the Board.
NOW, THEREFORE, in consideration of the above premises, the parties hereto, intending to be legally bound, hereby amend the Agreement as follows:
1.Section 1(a) of the Agreement is amended to read in its entirety as follows: “The Company and Executive desire that Executive be employed by the Company as the Company’s Interim Chief Financial Officer. Executive’s employment with the Company shall commence on April 25, 2022 (the “Commencement Date”) and Executive shall be appointed as the Company’s Interim Chief Financial Officer effective on or after the Commencement Date upon the earlier of (i) the effective date of termination of employment from the Company of the individual who was serving as the Company’s Chief Financial Officer on or immediately prior to the Commencement Date and (ii) close of business on May 6, 2022. The Company and Executive agree that following the appointment of a permanent Chief Financial Officer to succeed the Executive (“Successor”) up to and including October 24, 2022 (the “Transition Date”), the Executive’s title shall be Advisor to the CFO and she shall receive compensation during such transition period as set forth in this Agreement. The Executive agrees to perform her duties to the Employer as an advisor to the CFO through the Transition Date, and otherwise in accordance with the standards in this Agreement. Notwithstanding the foregoing, at all times Executive’s employment with the Company shall be “at-will,” such that Executive’s employment may be terminated by the Company or Executive at any time and for any reason.
2.Section 1(b) of the Agreement is amended to read in its entirety as follows: “While employed by the as Advisor to the CFO, Executive shall report to the Chief Executive Officer (as applicable), shall have such duties, authority, and responsibilities as are customary for Executive’s position in a Delaware corporation (subject to the control of the Board and its committees), and shall perform such other duties as may be reasonably requested by the Board. Executive shall devote Executive’s working time and efforts to the business and affairs of the Company (which shall include service to its “Affiliates” (within the meaning of Rule 12b-2 promulgated under Section 12 of the Exchange Act)), provided that Executive shall be permitted to manage Executive’s personal, financial and legal affairs, subject to compliance with this Agreement and provided that such activities do not materially interfere with Executive’s performance of Executive’s duties and responsibilities hereunder. Executive agrees to observe and comply with the rules and policies of the Company and its Affiliates as adopted by the Company or its Affiliates from time to time, in each case as amended from time to time, as set forth in writing, and as delivered or made available to Executive (each, a “Policy”).
3.Section 2(a) of the Agreement is amended to reflect the fact that Executive shall continue to receive the same monetary compensation as Advisor to CFO as she did as Interim CFO.
In all other respects, the provisions of the Agreement are hereby ratified and confirmed, and they shall continue in full force and effect.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment on the day first above written.
Dentsply Sirona Inc. Barbara W. Bodem
By: /s/ Lisa Yankie /s/ Barbara W. Bodem
Name: Lisa Yankie
Title: Senior Vice President, Chief
Human Resources Officer
Dentsply Sirona Appoints Glenn Coleman as Chief Financial Officer CHARLOTTE, N.C., September 22, 2022 (GLOBE NEWSWIRE) – DENTSPLY SIRONA Inc. (“Dentsply Sirona” or the “Company”) (Nasdaq: XRAY) today announced that Glenn Coleman has been appointed Executive Vice President and Chief Financial Officer, effective September 26, 2022. He succeeds Barbara Bodem, who has served as Interim Chief Financial Officer since May 2022. Ms. Bodem will remain with the company and continue to serve as an advisor to Mr. Coleman until October 24, 2022. Mr. Coleman brings 30 years of financial management expertise to Dentsply Sirona. He joins the Company from Integra Lifesciences Holdings Corporation (“Integra”), where he most recently served as Executive Vice President and Chief Operating Officer and previously held the role of Chief Financial Officer. Prior to Integra, Mr. Coleman held numerous financial management positions at leading global businesses, including Curtiss-Wright Corporation and Alcatel-Lucent. Simon Campion, Chief Executive Officer of Dentsply Sirona, said, “We are pleased to have Glenn join us in the CFO role. He is a transformational leader with a strong history of driving value creation and sustainable growth. Over the course of his career, he has overseen financial and operational functions across several geographies and industries, including healthcare. Glenn, like me, is a high-integrity leader who shares our commitment to accountability, operational rigor, discipline, and execution. I have no doubts that he will be a great thought partner for me and the other members of the leadership team. Glenn’s leadership will be instrumental as we move forward with the previously announced review of the Company’s business and operations including competitive positioning and portfolio, margin enhancement opportunities, and capital structure.” Mr. Coleman said, “I’m excited to join Dentsply Sirona as the Company prepares to enter its next chapter. I look forward to working with Simon and rest of the team to bring greater focus and discipline to our execution, advance our financial, operational, and strategic goals, and ultimately deliver long-term growth and value creation.” Mr. Campion continued, “On behalf of the Company, I would like to express our gratitude to Barbara for her service as Interim CFO. During her tenure, Barbara enhanced key financial processes, helped build improved management systems, and advanced our top operational priorities. We look forward to continuing to benefit from her exceptional skill and leadership during the transition.” About Glenn Coleman Mr. Coleman previously served as Executive Vice President & Chief Operating Officer at Integra Lifesciences Holdings Corporation; a role held since 2019. As Chief Operating Officer, Mr. Coleman led operations and most of Integra’s talent force, including clinical, R&D, manufacturing,
and quality functions while also leading the international team. Mr. Coleman was previously Integra’s Chief Financial Officer overseeing the finance department, including accounting and financial reporting, budgeting, internal audit, tax, treasury, investor relations, and information technology while also leading the international business. Prior to Integra, Mr. Coleman spent 25 years in financial management positions with leading global businesses, including Curtiss-Wright Corporation and Alcatel-Lucent, and began his career at PricewaterhouseCoopers LLP. Mr. Coleman earned a Bachelor of Science from Montclair State University and has been a CPA in New Jersey for more than 25 years. About Dentsply Sirona Dentsply Sirona is the world’s largest manufacturer of professional dental products and technologies, with over a century of innovation and service to the dental industry and patients worldwide. Dentsply Sirona develops, manufactures, and markets a comprehensive solutions offering including dental and oral health products as well as other consumable medical devices under a strong portfolio of world class brands. Dentsply Sirona’s products provide innovative, high-quality and effective solutions to advance patient care and deliver better and safer dental care. Dentsply Sirona’s headquarters is located in Charlotte, North Carolina. The Company’s shares are listed in the United States on Nasdaq under the symbol XRAY. Visit www.dentsplysirona.com for more information about Dentsply Sirona and its products. Contact Information Investors: Andrea Daley VP, Investor Relations +1-704-805-1293 InvestorRelations@dentsplysirona.com Press: Marion Par-Weixlberger VP, Corporate Communications and PR +43 676 848414588 email@example.com