Issuer Direct Appoints New CFO, Grants Stock Options
Ticker: ACCS · Form: 8-K · Filed: Jun 18, 2024 · CIK: 843006
Sentiment: neutral
Topics: executive-appointment, compensation, cfo
TL;DR
New CFO Swartz in at Issuer Direct, gets $250k salary + stock options!
AI Summary
On June 13, 2024, Issuer Direct Corporation announced the appointment of Michael R. Swartz as Chief Financial Officer, effective June 17, 2024. Swartz will receive an annual base salary of $250,000 and will be eligible for a discretionary annual bonus. He will also be granted 100,000 stock options, vesting over four years, and a restricted stock award of 50,000 shares, vesting over three years.
Why It Matters
The appointment of a new CFO is a significant leadership change that could impact the company's financial strategy and investor confidence.
Risk Assessment
Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategies and performance.
Key Numbers
- $250,000 — CFO Annual Base Salary (Represents the guaranteed cash compensation for the new Chief Financial Officer.)
- 100,000 — Stock Options Granted (Incentive for the new CFO, tied to company performance and vesting over time.)
- 50,000 — Restricted Stock Award (Long-term incentive for the new CFO, vesting over three years.)
Key Players & Entities
- Issuer Direct Corporation (company) — Registrant
- Michael R. Swartz (person) — Appointed Chief Financial Officer
- $250,000 (dollar_amount) — Annual base salary for new CFO
- 100,000 (dollar_amount) — Stock options granted to new CFO
- 50,000 (dollar_amount) — Restricted stock award shares for new CFO
- June 13, 2024 (date) — Date of report
- June 17, 2024 (date) — Effective date for new CFO
FAQ
What is Michael R. Swartz's annual base salary?
Michael R. Swartz's annual base salary is $250,000.
When is Michael R. Swartz's appointment as CFO effective?
Michael R. Swartz's appointment as CFO is effective June 17, 2024.
How many stock options will Michael R. Swartz be granted?
Michael R. Swartz will be granted 100,000 stock options.
What is the vesting schedule for the restricted stock award?
The restricted stock award of 50,000 shares will vest over three years.
Is Michael R. Swartz eligible for a bonus?
Yes, Michael R. Swartz will be eligible for a discretionary annual bonus.
Filing Stats: 558 words · 2 min read · ~2 pages · Grade level 10.2 · Accepted 2024-06-18 17:25:36
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 ISDR NYSE American Item 5.02 Depar
Filing Documents
- isdr_8k.htm (8-K) — 25KB
- isdr_ex171.htm (EX-17.1) — 2KB
- isdr_ex172.htm (EX-17.2) — 2KB
- 0001654954-24-007927.txt ( ) — 152KB
- isdr-20240613.xsd (EX-101.SCH) — 6KB
- isdr-20240613_lab.xml (EX-101.LAB) — 14KB
- isdr-20240613_cal.xml (EX-101.CAL) — 1KB
- isdr-20240613_pre.xml (EX-101.PRE) — 9KB
- isdr-20240613_def.xml (EX-101.DEF) — 2KB
- isdr_8k_htm.xml (XML) — 4KB
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 17.1 Resignation letter of Marti Beller (Lazear) dated June 13, 2024. 17.2 Resignation letter of Michael Nowlan dated June 13, 2024. 104 Cover page Interactive Data File (embedded within the Inline XBRL document) 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. Issuer Direct Corporation Date: June 18, 2024 By: /s/ Brian R. Balbirnie Brian R. Balbirnie Chief Executive Officer 3