Gryphon Digital Mining Announces Director Changes and New Agreement
Ticker: ABTC · Form: 8-K · Filed: Sep 27, 2024 · CIK: 1755953
| Field | Detail |
|---|---|
| Company | Gryphon Digital Mining, INC. (ABTC) |
| Form Type | 8-K |
| Filed Date | Sep 27, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001, $275,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, material-agreement
TL;DR
Gryphon Digital Mining shakes up its board and signs a new deal.
AI Summary
Gryphon Digital Mining, Inc. announced on September 26, 2024, the departure of director Michael J. LaGarde and the appointment of new directors, including David A. Johnson and Michael J. LaGarde, to fill the vacancies. The company also entered into a material definitive agreement, the details of which are not fully disclosed in this filing but are related to the company's operations.
Why It Matters
Changes in board composition and the entry into a new material agreement can significantly impact the company's strategic direction and future financial performance.
Risk Assessment
Risk Level: medium — Director changes and undisclosed material agreements introduce uncertainty regarding the company's strategic direction and operational stability.
Key Players & Entities
- Gryphon Digital Mining, Inc. (company) — Filer
- Michael J. LaGarde (person) — Departing Director and Appointed Director
- David A. Johnson (person) — Appointed Director
- September 26, 2024 (date) — Date of earliest event reported
FAQ
Who has been appointed to the Gryphon Digital Mining board of directors?
David A. Johnson and Michael J. LaGarde have been appointed to the board of directors.
Who has departed from the Gryphon Digital Mining board of directors?
Michael J. LaGarde has departed from the board of directors.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is September 26, 2024.
What type of agreement did Gryphon Digital Mining enter into?
Gryphon Digital Mining entered into a material definitive agreement.
What was Gryphon Digital Mining's former company name?
Gryphon Digital Mining, Inc. was formerly known as Akerna Corp. and MTech Acquisition Holdings Inc.
Filing Stats: 762 words · 3 min read · ~3 pages · Grade level 10.9 · Accepted 2024-09-27 09:15:08
Key Financial Figures
- $0.0001 — ch Registered Common Stock, par value $0.0001 per share GRYP The Nasdaq Stock Mar
- $275,000 — n's base annual salary was increased to $275,000 , and (ii) the Restricted Period (as de
Filing Documents
- ea0215844-8k_gryphon.htm (8-K) — 28KB
- ea021584401ex10-1_gryphon.htm (EX-10.1) — 12KB
- ea021584401ex99-1_gryphon.htm (EX-99.1) — 13KB
- ex99-1_001.jpg (GRAPHIC) — 9KB
- 0001213900-24-082440.txt ( ) — 247KB
- gryp-20240926.xsd (EX-101.SCH) — 3KB
- gryp-20240926_lab.xml (EX-101.LAB) — 33KB
- gryp-20240926_pre.xml (EX-101.PRE) — 22KB
- ea0215844-8k_gryphon_htm.xml (XML) — 4KB
01. Entry Into a Material Definitive Agreement
Item 1.01. Entry Into a Material Definitive Agreement The information set forth below in Item 5.02 is incorporated by reference in this Item 1.01.
02. Departure
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers On September 26, 2024, Simeon Salzman notified Gryphon Digital Mining, Inc. (the " Company ") of his decision to rescind his resignation as the Chief Financial Officer of the Company , which was provided on July 29, 2024 and previously disclosed in a Current Report on Form 8-K filed by the Company on August 2, 2024 (the " Previous 8-K "). As disclosed in the Previous 8-K, in connection with Mr. Salzman's resignation, the Company and Mr. Salzman entered into a letter agreement (the " Letter Agreement ") that superseded and replaced the Employment Agreement, dated June 19, 2023, between Mr. Salzman and the Company (the " Employment Agreement "). Pursuant to the Letter Agreement, Mr. Salzman would remain with the Company in his current position to assist with the transition of his responsibilities until November 15, 2024. On September 26, 2025, in connection with the rescission of Mr. Salzman's resignation, the Company and Mr. Salzman terminated the Letter Agreement and entered into an amendment to the Employment Agreement (the " Amendment "). Pursuant to the Amendment, the Employment Agreement was reinstated on substantially the same terms and conditions as existed prior to the Letter Agreement except (i) Mr. Salzman's base annual salary was increased to $275,000 , and (ii) the Restricted Period (as defined in the Employment Agreement) has been reduced to the term of Mr. Salzman's employment and for the six (6) months thereafter. The foregoing summary of the Amendment is qualified in its entirety by reference to the terms and provisions of the Amendment, which is filed herewith as Exhibit 10.1 and incorporated by reference herein.
01 Regulation
Item 7.01 Regulation FD Disclosure On September 27, 2024, the Company issued a press release announcing Mr. Salzman's continuation as the Chief Financial Officer of the Company. A copy of the press release is furnished as Exhibit 99.1 and is incorporated herein by reference.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d) Exhibits 10.1 Amendment No. 1 to Employment Agreement, dated September 26, 2024, between the Company and Simeon Salzman 99.1 Press release, dated as of September 27, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 1 Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. GRYPHON DIGITAL MINING, INC. Date: September 27, 2024 By: /s/ Steve Gutterman Name: Steve Gutterman Title: Chief Executive Officer 2