Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 18, 2023, the Board of Directors (the "Board") of SusGlobal Energy
Corp. (the "Company") appointed Bruce Rintoul to the Board and to serve on the
Corporate Governance and Nominating Committee and the Compensation Committee of
the Board, effective immediately. On February 22, 2023, the Company issued a
press release announcing Mr. Rintoul's appointment to the Board.
Mr. Rintoul's compensation for serving as a member of the Board and as a member
of the two Board committees will be $25,000 per year in Canadian Dollars
(approximately $18,300 USD per year based on the exchange rate as of February
24, 2023). The compensation is payable each December 31st in either, at the
Company's discretion, cash or shares of the Company's common stock, par value
$0.0001 per share (the "Common Stock"). If paid in shares, the price per share
will be based on the average of the closing price of the Common Stock over the
ten (10) trading days prior to December 31st. In addition, Mr. Rintoul will be
issued one hundred thousand (100,000) shares of Common Stock prior to March 15,
2022.
There is no arrangement or understanding between Mr. Rintoul and any other
person pursuant to which Mr. Rintoul was elected as a director. There are no
family relationships between Mr. Rintoul and any director, executive officer or
person nominated or chosen by the Company to become a director or executive
officer of the Company within the meaning of Item 401(d) of Regulation S-K under
the U.S. Securities Act of 1933, as amended ("Regulation S-K"). Since the
beginning of the Company's last fiscal year, the Company has not engaged in any
transaction in which Mr. Rintoul had a direct or indirect material interest
within the meaning of Item 404(a) of Regulation S-K.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
99.1 Press Release issued February 22, 2023
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
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