Item 2.02 Results of Operations and Financial Condition.
On
The information contained in this Current Report 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 Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
(c) Schmitt Industries, Inc. ("Registrant" or the "Company") has appointed
A copy of the press release that includes the announcement of the above is furnished as Exhibit 99.1 to this report.
During the last two years, there have been no transactions or proposed
transactions by the Company in which
(d) On
Pursuant to the terms of the agreement,
The 18,000 market-based restricted stock units shall vest in accordance with the schedule set forth below.
Number of RSU's Vested Target Price 3,000 $ 4.00 3,000 $ 4.20 3,000 $ 4.40 3,000 $ 4.60 3,000 $ 4.80 3,000 $ 5.00
The foregoing description of the employment agreement does not purport to be complete and is qualified in its entirety by reference to the executive employment agreement attached hereto as Exhibit 10.1 and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
10.1 Employment Agreement forJamie Schmidt datedJanuary 14, 2020 . 99.1 Press release entitled "Schmitt Announces Second Quarter 2020 Operating Results and CFO Appointment."
--------------------------------------------------------------------------------
Forward Looking Statements
This document may contain forward-looking statements made pursuant to the
Private Securities Litigation Reform Act of 1995. These statements are not
guarantees of future performance and involve risks and uncertainties that are
difficult to predict. Actual outcomes and results may differ materially from
what is expressed or forecasted in such forward-looking statements due to
numerous factors. A complete discussion of the risks and uncertainties that may
affect Schmitt's business, including the business of its subsidiary, is included
in "Risk Factors" in the Company's most recent Annual Report on Form 10-K as
filed by the Company with the
For further information regarding risks and uncertainties associated with the
Company's business, please refer to Schmitt's
The forward-looking statements in this release speak only as of the date on which they were made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release, or for changes to this document made by wire services or internet service providers.
--------------------------------------------------------------------------------
© Edgar Online, source