Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Resignations
On May 31, 2022, GrowLife, Inc. (the "Company") announced that Marco Hegyi has
resigned as the Chief Executive Officer, Interim Chief Financial Officer,
Chairman and Director of the Company, effective as of July 1, 2022. Mr. Hegyi
had no disagreement with the Company on any matter relating to the registrant's
operations, policies or practices. Mr. Hegyi will continue as a consultant for
the Company through December 31, 2022 to provide transitionary services.
Appointments
On May 31, 2022, the Company's Board of Directors ("Board") appointed its
current President, David Dohrman, to the position of Chief Executive Officer and
a member of the Board, effective July 1, 2022. Mr. Dohrmann's biography is
incorporated by reference as included in Form 10-K filed with the Commission on
May 23, 2022.
Mr. Dohrmann receives annual compensation of $200,000 for all employment
positions with the Company. The Company and Mr. Dohrmann have not entered into
any compensatory agreements as of this Current Report on Form 8-K except as
otherwise set forth herein ("Report").
Except as otherwise disclosed in this Report, there are no arrangements or
understandings between Mr. Dohrmann and any other person pursuant to which he
was appointed as an officer of the Company. In addition, there are no family
relationships between Mr. Dohrmann and any of the Company's other officers or
directors. Further, except as otherwise disclosed herein, there are no
transactions since the beginning of the Company's last fiscal year, or any
currently proposed transaction, in which the Company is a participant, the
amount involved exceeds $120,000, and in which Mr. Dohrmann had, or will have, a
direct or indirect material interest.
Item 7.01 Regulation FD Disclosure.
On May 31, 2022, the Company issued a press release, attached as Exhibit 99.1,
announcing the appoint of Mr. Dohrmann as Chief Executive Officer and Board
Member. A copy of the press release is furnished as Exhibit 99.1 hereto and is
incorporated herein by reference.
The information set forth in the attached 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 incorporated by reference in any filing under
the Securities Act of 1933, as amended, or the Exchange Act, except as shall be
expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
99.1 Press release dated May 31, 2022, announcing new Chief Executive
Officer
© Edgar Online, source Glimpses