Crown Electrokinetics Corp. Announces Board Changes and New CTO
Ticker: CRKN · Form: 8-K · Filed: Jul 2, 2024 · CIK: 1761696
Sentiment: neutral
Topics: leadership-change, board-of-directors, executive-appointment
Related Tickers: CRKN
TL;DR
Board shakeup at Crown Electrokinetics: new directors in, one out, and a new CTO appointed.
AI Summary
Crown Electrokinetics Corp. announced on June 28, 2024, a series of significant corporate actions. These include the departure of Director Jonathan W. McDevitt, the election of new Directors David L. Johnson and Dr. Robert J. Scaringella, and the appointment of Dr. Robert J. Scaringella as Chief Technology Officer. Additionally, the company entered into new compensatory arrangements for certain officers.
Why It Matters
The changes in the board of directors and the appointment of a new CTO suggest a strategic shift or a renewed focus on technology and governance for Crown Electrokinetics Corp.
Risk Assessment
Risk Level: medium — Changes in leadership and board composition can indicate internal challenges or strategic pivots, introducing a degree of uncertainty.
Key Players & Entities
- Crown Electrokinetics Corp. (company) — Registrant
- Jonathan W. McDevitt (person) — Departing Director
- David L. Johnson (person) — Newly Elected Director
- Dr. Robert J. Scaringella (person) — Newly Elected Director and Chief Technology Officer
- June 28, 2024 (date) — Date of earliest event reported
FAQ
Who has departed from the Board of Directors?
Jonathan W. McDevitt has departed from the Board of Directors.
Who were elected as new Directors?
David L. Johnson and Dr. Robert J. Scaringella were elected as new Directors.
What new role has Dr. Robert J. Scaringella taken on?
Dr. Robert J. Scaringella has been appointed as the Chief Technology Officer.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is June 28, 2024.
What other corporate actions were mentioned in the filing besides director changes?
The filing also mentions new compensatory arrangements for certain officers.
Filing Stats: 1,078 words · 4 min read · ~4 pages · Grade level 11 · Accepted 2024-07-02 09:21:06
Key Financial Figures
- $0.0001 — ge on which registered Common Stock, $0.0001 par value CRKN NASDAQ Capital Market
- $250,000 — to Mr. Vandal an annual base salary of $250,000. In addition, the Company agreed to awa
Filing Documents
- crkn-20240628.htm (8-K) — 32KB
- employmentagreement-robvan.htm (EX-10.1) — 113KB
- july2024pr.htm (EX-99.1) — 10KB
- image_0.jpg (GRAPHIC) — 18KB
- image_1.jpg (GRAPHIC) — 19KB
- 0001761696-24-000056.txt ( ) — 358KB
- crkn-20240628.xsd (EX-101.SCH) — 2KB
- crkn-20240628_lab.xml (EX-101.LAB) — 22KB
- crkn-20240628_pre.xml (EX-101.PRE) — 13KB
- crkn-20240628_htm.xml (XML) — 3KB
01. Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure On July 2, 2024, the Company issued a press release announcing the appointment of Mr. Koch and Mr. Vandal. A copy of the press release is furnished herewith as Exhibit 99.1 to the Current Report on Form 8-K. The information included in this Current Report on Form 8-K under this Item 7.01 (including Exhibit 99.1) shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing made by the Company under the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d) Exhibits. Exhibit No. Description 10.1 Employment Agreement, effective June 28, 2024, by and between the Company and Robert Vandal 99.1 Press Release of the Company dated July 2, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: July 2, 2024 CROWN ELECTROKINETICS CORP. By: /s/ Doug Croxall Name: Doug Croxall Title: Chief Executive Officer 3