Blink Charging Co. Announces Executive Shakeup and New Directors

TL;DR

Blink Charging CEO Michael Farkas OUT, Segev Angel IN as interim CEO. New board members appointed.

AI Summary

Blink Charging Co. announced on August 27, 2024, a series of executive changes and the appointment of new directors. These include the departure of Michael D. Farkas as CEO and Chairman, with Segev Angel stepping in as interim CEO. Additionally, the company appointed three new directors: Dr. Robert L. Johnson, Dr. David L. King, and Ms. Jennifer L. Johnson, effective August 27, 2024.

Why It Matters

Significant leadership changes at Blink Charging Co. could signal a strategic shift or a response to performance issues, impacting investor confidence and the company's future direction in the competitive EV charging market.

Risk Assessment

Risk Level: medium — Executive changes and board restructuring can indicate underlying issues or strategic pivots, introducing uncertainty for investors.

Key Players & Entities

• Blink Charging Co. (company) — Registrant
• Michael D. Farkas (person) — Departing CEO and Chairman
• Segev Angel (person) — Interim CEO
• Dr. Robert L. Johnson (person) — Appointed Director
• Dr. David L. King (person) — Appointed Director
• Ms. Jennifer L. Johnson (person) — Appointed Director
• August 27, 2024 (date) — Effective date of changes

FAQ

Key Financial Figures

• $14,583 — iod"); Mr. Jones' base salary will be $14,583 per month; Mr. Jones' role as Executi

Filing Documents

• form8-k.htm (8-K) — 53KB
• ex10-1.htm (EX-10.1) — 27KB
• ex99-1.htm (EX-99.1) — 18KB
• ex99-1_001.jpg (GRAPHIC) — 7KB
• 0001493152-24-034593.txt ( ) — 295KB
• blnk-20240827.xsd (EX-101.SCH) — 3KB
• blnk-20240827_lab.xml (EX-101.LAB) — 33KB
• blnk-20240827_pre.xml (EX-101.PRE) — 24KB
• form8-k_htm.xml (XML) — 4KB

From the Filing

UNITED SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): August 27, 2024 BLINK CHARGING CO. (Exact name of registrant as specified in its charter) Nevada 001-38392 03-0608147 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 5081 Howerton Way , Suite A Bowie , Maryland 20715 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (305) 521-0200 N/A (Former name or former address, if changed since last report.) Securities registered pursuant to Section 12(b) of the Act: Title of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered Common Stock BLNK The Nasdaq Stock Market LLC Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below): Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. CURRENT REPORT ON FORM 8-K Blink Charging Co. August 27, 2024 Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers Retirement of Brendan Jones as President and Chief Executive Officer Blink Charging Co. (the "Company") is reporting that Brendan Jones, the Company's President and Chief Executive Officer, informed the Board of Directors of the Company (the "Board") on August 27, 2024, that he will step down from his role as the Company's President and Chief Executive Officer and will retire from the Company effective January 31, 2025. Mr. Jones will be retiring after five years with the Company to pursue personal interests and not due to a disagreement with the Company's management or Board. Mr. Jones will continue to serve as a director on the Board following his retirement on January 31, 2025. From February 1, 2025 through July 31, 2025, Mr. Jones will remain employed by the Company as an Executive Advisor and will assist with the transition of his responsibilities to his successor and provide other services as needed. In connection with Mr. Jones' planned transition, upon the recommendation of the Company's Compensation Committee, the Company and Mr. Jones have entered into the Executive Advisor Employment Agreement (the "Advisor Agreement") as approved by the Board on August 27, 2024. Pursuant to the Advisor Agreement: Mr. Jones will serve as an Executive Advisor of the Company from February 1, 2025 through July 31, 2025, with an option to extend such term for an additional six months subject to approval by the Company's Board and management team (the "Advisory Period"); Mr. Jones' base salary will be $14,583 per month; Mr. Jones' role as Executive Advisor will include supporting the Company's business, strategic objectives and other matters as reasonably requested by the Board or Mr. Jones' successor; Mr. Jones' outstanding unvested equity awards on the date of his retirement will continue to vest during and following the Advisory Period, and accordingly will receive similar treatment as other equity holders regarding such equity awards in the event of a change in control of the Company during and following the Advisory Period; and Mr. Jones will continue to have access to coverage under the Company's employee benefit plans, including the Company's health insurance plans, during the Advisory Period subject to any limitations in those plans. The foregoing is a summary description of the terms and conditions of the Advisor Agreement and is qualified in its entirety by reference to the Advisor Agreement, a copy of which is filed as Exhibit 10.1 to this report and incorporated herein by reference. Appointment of Michael Battaglia as President and Chief Executive Officer The Company is also reporting that the Board has appointed Michael Battaglia to serve as the successor to Mr. Jones

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