CareCloud, Inc. Files 8-K on Director/Officer Changes
Ticker: CCLDO · Form: 8-K · Filed: Dec 16, 2024 · CIK: 1582982
| Field | Detail |
|---|---|
| Company | Carecloud, Inc. (CCLDO) |
| Form Type | 8-K |
| Filed Date | Dec 16, 2024 |
| Risk Level | low |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $0.001, $250,000, $300,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: corporate-governance, officer-changes, financials
Related Tickers: CCLD
TL;DR
CareCloud filed an 8-K on 12/16/24 for director/officer changes & financials.
AI Summary
On December 16, 2024, CareCloud, Inc. filed an 8-K report detailing changes in its board of directors and certain officers, along with information regarding compensatory arrangements. The filing also includes financial statements and exhibits, though specific financial figures or new appointments were not detailed in the provided text.
Why It Matters
Changes in a company's board and executive team can signal shifts in strategy or governance, impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — The filing is a routine disclosure of corporate governance and financial information without immediate negative or positive financial implications.
Key Players & Entities
- CareCloud, Inc. (company) — Filer of the 8-K report
- December 16, 2024 (date) — Date of the earliest event reported
FAQ
What specific changes were made to CareCloud, Inc.'s board of directors or certain officers?
The provided text indicates that the 8-K filing pertains to the 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers,' but does not specify the names or details of these changes.
What are the details of the compensatory arrangements mentioned in the filing?
The filing notes 'Compensatory Arrangements of Certain Officers' as an item of disclosure, but the specific details of these arrangements are not included in the provided excerpt.
What financial statements were included in this 8-K filing?
The filing lists 'Financial Statements and Exhibits' as an item, but the specific financial statements or their content are not detailed in the provided text.
What was CareCloud, Inc.'s former name?
CareCloud, Inc. was formerly known as MTBC, Inc. (effective February 6, 2019) and prior to that, MEDICAL TRANSCRIPTION BILLING, CORP (effective July 31, 2013).
What is CareCloud, Inc.'s Standard Industrial Classification (SIC) code?
CareCloud, Inc.'s SIC code is 7372, categorized under SERVICES-PREPACKAGED SOFTWARE.
Filing Stats: 1,513 words · 6 min read · ~5 pages · Grade level 11.3 · Accepted 2024-12-16 08:00:38
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share CCLD Nasdaq Global Market
- $250,000 — s. Williams' annual base salary will be $250,000. At the sole discretion of the Board of
- $300,000 — Mr. Snyder's annual base salary will be $300,000. At the sole discretion of the Board of
Filing Documents
- form8-k.htm (8-K) — 56KB
- ex10-1.htm (EX-10.1) — 66KB
- ex10-2.htm (EX-10.2) — 66KB
- ex10-3.htm (EX-10.3) — 63KB
- ex99-1.htm (EX-99.1) — 21KB
- ex99-1_001.jpg (GRAPHIC) — 3KB
- 0001493152-24-050116.txt ( ) — 552KB
- ccld-20241216.xsd (EX-101.SCH) — 4KB
- ccld-20241216_def.xml (EX-101.DEF) — 30KB
- ccld-20241216_lab.xml (EX-101.LAB) — 37KB
- ccld-20241216_pre.xml (EX-101.PRE) — 27KB
- form8-k_htm.xml (XML) — 7KB
02
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Effective January 1, 2025, Crystal Williams will be appointed President of CareCloud, Inc. (the "Registrant"). As of such date, Stephen Snyder is no longer President of the Registrant, and is appointed the Registrant's Co-Chief Executive Officer. In addition, A. Hadi Chaudhry is no longer Chief Executive Officer of the Registrant, but is appointed Co-Chief Executive Officer of the Registrant. Ms. Williams, 42, served as the Registrant's Chief Operating Officer from May 2024 through December 2024, and served as the Registrant's Vice President, Operations from June 2020 through April 2024. Ms. Williams' annual base salary will be $250,000. At the sole discretion of the Board of Directors, Ms. Williams' employment agreement entitles her to an annual bonus based upon the achievement of objectives established by the Board of Directors, with a target of up to 30% of her base salary. Upon termination, as more fully described in the agreement annexed hereto, Ms. Williams may be entitled to receive severance of up to 24 months salary and bonus. The initial term of her employment agreement will begin on January 1, 2025 and expires on December 31, 2026. The term of the employment agreement automatically renews for additional one-year terms unless either party elects to terminate the agreement by notice to the other party delivered at least ninety (90) days prior to the expiration of the initial or any renewal term. Notwithstanding the foregoing, the Registrant may terminate Ms. William's employment for any reason upon thirty (30) days advance written notice. Mr. Snyder, 48, served as the Registrant's President from May 2024 through December 2024. Mr. Snyder served as a Consultant to the Registrant from June 2022 through April 2024. Mr. Snyder also served as the Registrant Chief Executive Officer from January 201
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits 10.1 A. Hadi Chaudhry Executive Employment Agreement 10.2 Stephen Snyder Executive Employment Agreement 10.3 Crystal Williams Executive Employment Agreement 99.1 Press release dated December 16, 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. CareCloud, Inc. Date: December 16, 2024 By: /s/ A. Hadi Chaudhry A. Hadi Chaudhry Chief Executive Officer 3