Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On
With his appointment,
? Base salary of$331,500 ;
Participation in the Management Incentive Plan, with a cash bonus of 50% at
? target and annual equity grants with both time- and performance-based vesting,
the first set of grants to be issued in August of 2023;
A one-time grant of restricted stock units valued at
?
following the date of grant;
Reimbursement of certain business expenses in connection with his service to
? the Company and participation in other employee benefit plans generally
available to the Company's employees, and certain other benefits as set forth
in the Employment Agreement.
This description of the material terms of the Employment Agreement does not
purport to be complete and is qualified in its entirety by reference to the full
text of the form of Executive Employment Agreement, which will be filed as an
exhibit to the Company's Quarterly Report on Form 10-Q for the quarter ending
There is no transaction with the Company or any of its subsidiaries or affiliates requiring disclosure under Item 404(a) of Regulation S-K.
Item 8.01 Other Events
A copy of the press release issued by
Item 9.01. Financial Statements and Exhibits
Exhibit No. Description 99.1 Press Release, datedJanuary 31, 2023
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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