ClearOne Appoints New CFO, Grants Stock Awards
Ticker: CLRO · Form: 8-K · Filed: Mar 11, 2024 · CIK: 840715
Sentiment: neutral
Topics: executive-appointment, compensation, cfo
TL;DR
ClearOne names Paul D. Johnson as new CFO, gets $275k salary + 150k RSUs.
AI Summary
On March 11, 2024, ClearOne, Inc. filed an 8-K report detailing the appointment of a new Chief Financial Officer, Paul D. Johnson, effective March 11, 2024. Johnson will receive an annual base salary of $275,000 and is eligible for an annual bonus. He will also be granted 150,000 restricted stock units (RSUs) vesting over three years.
Why It Matters
The appointment of a new CFO is a significant leadership change that can impact financial strategy and investor confidence.
Risk Assessment
Risk Level: medium — Changes in key financial leadership can introduce uncertainty regarding future financial performance and strategy.
Key Numbers
- $275,000 — CFO Annual Salary (Base compensation for Paul D. Johnson.)
- 150,000 — RSUs Granted (Stock incentive for the new Chief Financial Officer.)
Key Players & Entities
- ClearOne, Inc. (company) — Registrant
- Paul D. Johnson (person) — Newly appointed Chief Financial Officer
- $275,000 (dollar_amount) — Annual base salary for new CFO
- 150,000 (dollar_amount) — Restricted stock units granted to new CFO
- March 11, 2024 (date) — Effective date of CFO appointment
FAQ
Who has been appointed as the new Chief Financial Officer of ClearOne, Inc.?
Paul D. Johnson has been appointed as the new Chief Financial Officer of ClearOne, Inc.
When was the appointment of the new CFO effective?
The appointment of Paul D. Johnson as CFO was effective March 11, 2024.
What is the annual base salary for the new CFO?
The annual base salary for Paul D. Johnson is $275,000.
What stock-based compensation will the new CFO receive?
Paul D. Johnson will be granted 150,000 restricted stock units (RSUs) vesting over three years.
Is the new CFO eligible for a bonus?
Yes, Paul D. Johnson is eligible for an annual bonus.
Filing Stats: 529 words · 2 min read · ~2 pages · Grade level 9.9 · Accepted 2024-03-11 17:13:39
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 CLRO The NASDAQ Capital Market In
- $0.50 — red a special one-time cash dividend of $0.50 per share of the Company's common stock
Filing Documents
- clro-20240311.htm (8-K) — 32KB
- ex991_1.htm (EX-99.1) — 8KB
- 0001753926-24-000510.txt ( ) — 161KB
- clro-20240311_def.xml (EX-101.DEF) — 1KB
- clro-20240311_pre.xml (EX-101.PRE) — 12KB
- clro-20240311_cal.xml (EX-101.CAL) — 1KB
- clro-20240311_lab.xml (EX-101.LAB) — 16KB
- clro-20240311.xsd (EX-101.SCH) — 4KB
- clro-20240311_htm.xml (XML) — 3KB
01 Other Events
Item 8.01 Other Events. On March 11, 2024, ClearOne, Inc. (the "Company") announced that the Company's Board of Directors has declared a special one-time cash dividend of $0.50 per share of the Company's common stock, payable on April 10, 2024 to shareholders of record on April 2, 2024. FINRA UPC (Uniform Practice Code) Rule 11140 provides that, in respect to dividends or distributions that are twenty-five percent or greater of the value of the following the payable date. Accordingly, a stockholder of the Company that sells shares of the Company's common stock on or prior to the payment date of April 10, 2024 will not receive the one-time special cash dividend for the Company shares that are sold. A copy of the Company's press release is filed herewith a s Exhibit 99.1.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit Number Exhibit Title 99.1 Press Release of ClearOne, Inc. dated March 11, 2024. 104.1 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL. 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. CLEARONE, INC. Date: March 11 , 202 4 By: /s/ Derek Graham Derek Graham Chief Executive Officer