Applied Energetics Announces Key Executive and Board Changes

TL;DR

Applied Energetics shakes up leadership and board; new execs appointed, old ones out.

AI Summary

Applied Energetics, Inc. announced on November 25, 2024, the entry into a material definitive agreement related to its business operations. The filing also disclosed the departure of directors or certain officers, the election of new directors, and the appointment of certain officers, along with details on compensatory arrangements for these individuals. The company, formerly known as Ionatron, Inc., is based in Tucson, Arizona.

Why It Matters

This 8-K filing signals significant changes in Applied Energetics' leadership and governance structure, which could impact the company's strategic direction and operational execution.

Risk Assessment

Risk Level: medium — Changes in executive and board positions can indicate internal shifts or strategic realignments that may carry inherent risks.

Key Players & Entities

• Applied Energetics, Inc. (company) — Registrant
• November 25, 2024 (date) — Date of earliest event reported
• Ionatron, Inc. (company) — Former company name
• Tucson, Arizona (location) — Company location

FAQ

Key Financial Figures

• $400,000 — greement calls for (i) a cash salary of $400,000 per annum, payable monthly, and eligibi
• $0.78 — ur common stock at an exercise price of $0.78 per share under the company's 2018 Ince
• $10 million — ievement of an Annual Revenue Target of $10 million; with respect to an additional 330,000
• $25 million — ievement of an Annual Revenue Target of $25 million; and with respect to the remaining 500,
• $50 million — ievement of an Annual Revenue Target of $50 million. The installments shall be cumulative.
• $33,333 — o receive a salary at a monthly rate of $33,333 until March 1, 2025 and $29,167 thereaf
• $29,167 — rate of $33,333 until March 1, 2025 and $29,167 thereafter, subject to certain performa

Filing Documents

• ea0223221-8k_applied.htm (8-K) — 37KB
• ea022322101ex10-1_applied.htm (EX-10.1) — 65KB
• ea022322101ex10-2_applied.htm (EX-10.2) — 39KB
• ea022322101ex99_applied.htm (EX-99) — 19KB
• ex99_001.jpg (GRAPHIC) — 3KB
• ex99_002.jpg (GRAPHIC) — 35KB
• 0001213900-24-104612.txt ( ) — 421KB
• aerg-20241125.xsd (EX-101.SCH) — 3KB
• aerg-20241125_lab.xml (EX-101.LAB) — 33KB
• aerg-20241125_pre.xml (EX-101.PRE) — 22KB
• ea0223221-8k_applied_htm.xml (XML) — 4KB

01 – Entry into a Material

Item 1.01 – Entry into a Material Definitive Agreement. See disclosure under Item 5.02 below.

02 – Departure of Directors

Item 5.02 – Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers Appointment of Christopher Donaghey as President and Chief Executive Officer Effective November 25, 2024, Applied Energetics has appointed Christopher Donaghey to serve as its President and Chief Executive Officer. In a press release issued on November 25, 2024, Bradford T. Adamczyk, Executive Chairman, stated, "We are pleased to announce Chris as our new Chief Executive. Chris is a dynamic business leader with a deep understanding of the industry, our customers' needs and our operations. His diverse set of experiences in the defense industry, coupled with his keen understanding of the need for cutting-edge solutions to address the urgent threats to our national security, make him ideally suited to lead the company during its next phase of growth and customer adoption. We have every confidence in his ability to guide Applied Energetics and drive the company's long-term success." A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99. Mr. Donaghey, age 52, is an experienced financial executive with extensive experience in the defense industry and has served as the company's Chief Operating and Financial Officer since August 2022, during which time he has led all aspects of Applied Energetics financial strategy, performance, reporting and long-range business planning, as well as investor relations, treasury, controller, and audit operations. He served as senior vice president and head of corporate development for Science Applications International Corporation (SAIC), a defense and government agency technology integrator, where he was responsible for executing the company's mergers and acquisitions (M&A) and strategic ventures strategy. He joined SAIC in 2017, as senior vice president of finance for SAIC's operations. Mr. Donaghey is also a Founder and Executive Board member

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. Exhibit 10.1 Executive Employment Agreement Exhibit 10.2 Employment and Transition Agreement Exhibit 99 Press Release, dated November 25, 2024, -- Applied Energetics Chris Donaghey as President and Chief Executive Officer 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 thereunto duly authorized. APPLIED ENERGETICS, INC. By: /s/ Christopher Donaghey Christopher Donaghey, President and Chief Executive Officer Date : December 2, 2024 3

View Full Filing

View this 8-K filing on SEC EDGAR