Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
The registrant's Board of Directors has appointed Jim McDonnell, 63, as an
independent member to the Board, effective January 1, 2023. Mr. McDonnell brings
over four decades of experience in law enforcement. More information about his
background can be found in the press release, which is filed as an exhibit to
this report.
Non-employee directors receive cash compensation of $24,000 annually. In
addition, Mr. McDonnell has been granted 10,684 restricted shares of the
registrant's common stock which are subject to vesting requirements and 42,735
restricted stock units which vest only upon the sale of the registrant. There
were no previous transactions between the registrant and Mr. McDonnell.
The vacancy on the Board of Directors was created by the resignation of James
Richardson, which was effective December 31, 2022. His resignation was not the
result of any disagreement with the registrant, its management, the Board or any
committee of the Board.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
99.1 Press release of the registrant dated January 3, 2023.
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
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