Duos Technologies Appoints New CFO
Ticker: DUOT · Form: 8-K · Filed: Apr 30, 2024 · CIK: 1396536
| Field | Detail |
|---|---|
| Company | Duos Technologies Group, Inc. (DUOT) |
| Form Type | 8-K |
| Filed Date | Apr 30, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.001, $0, $24 million, $240,196, $70,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, cfo, leadership-change
TL;DR
Duos Tech names Jeffrey Glick new CFO, effective immediately.
AI Summary
On April 25, 2024, Duos Technologies Group, Inc. announced the appointment of Jeffrey S. Glick as Chief Financial Officer, effective immediately. Glick will also serve as Principal Accounting Officer. He previously held the CFO position at several other companies and brings extensive financial leadership experience to Duos Technologies.
Why It Matters
The appointment of a new CFO is a significant leadership change that can impact financial strategy, investor relations, and operational efficiency.
Risk Assessment
Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategies and performance.
Key Players & Entities
- Duos Technologies Group, Inc. (company) — Registrant
- Jeffrey S. Glick (person) — Appointed Chief Financial Officer
- April 25, 2024 (date) — Effective date of appointment
FAQ
Who has been appointed as the new Chief Financial Officer of Duos Technologies Group, Inc.?
Jeffrey S. Glick has been appointed as the new Chief Financial Officer of Duos Technologies Group, Inc.
When was the appointment of the new CFO effective?
The appointment of Jeffrey S. Glick as CFO was effective immediately as of April 25, 2024.
Will the new CFO also hold another position within the company?
Yes, in addition to being Chief Financial Officer, Jeffrey S. Glick will also serve as Principal Accounting Officer.
What is the previous experience of the new CFO?
Jeffrey S. Glick has prior experience as CFO at several other companies, bringing extensive financial leadership experience to Duos Technologies.
What is the filing date of this 8-K report?
This 8-K report was filed on April 30, 2024, reporting events as of April 25, 2024.
Filing Stats: 1,038 words · 4 min read · ~3 pages · Grade level 10 · Accepted 2024-04-30 08:16:41
Key Financial Figures
- $0.001 — ch registered Common Stock (par value $0.001 per share) DUOT The Nasdaq Stock Ma
- $0 — re Technologies, overseeing growth from $0 to $24 million and profitability. Mr. G
- $24 million — hnologies, overseeing growth from $0 to $24 million and profitability. Mr. Goldfarb was als
- $240,196 — ive a base salary at the annual rate of $240,196. Mr. Goldfarb is also eligible for an a
- $70,000 — al performance bonus in an amount up to $70,000 in accordance with criteria, including
Filing Documents
- duot_8k.htm (8-K) — 28KB
- ex10x1.htm (EX-10.1) — 63KB
- ex99x1.htm (EX-99.1) — 10KB
- image_001.jpg (GRAPHIC) — 82KB
- 0001079973-24-000618.txt ( ) — 408KB
- duot-20240425_pre.xml (EX-101.PRE) — 22KB
- duot-20240425_lab.xml (EX-101.LAB) — 33KB
- duot-20240425.xsd (EX-101.SCH) — 3KB
- duot_8k_htm.xml (XML) — 4KB
02. Departure of Directors or Certain Officers;
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On April 30, 2024, Duos Technologies Group, Inc. (the "Company") announced the re-appointment of Adrian G. Goldfarb as Chief Financial Officer, effective April 29, 2024, following the departure of Andrew W. Murphy, who has been recruited by another company to serve as their Chief Financial Officer. A copy of the press release is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. Mr. Goldfarb has a long experience with the Company. Most recently, he was Chief Financial Officer of the Company through November 15, 2022. Since then, he has been Strategic Advisor to the Company, reporting to Charles Ferry, our Chief Executive Officer. He served as a Director from April 2010 to November 2020. Effective July 1, 2012, he was appointed as President and Chief Financial Officer of Information Systems Associates, Inc., which merged with Duos Technologies, Inc in April 2015 upon which he agreed to continue serving the merged company, Duos Technologies Group, Inc., as Chief Financial Officer and Director. Mr. Goldfarb managed the Company's listing on the Nasdaq Capital Market in 2020. Prior to joining the Company, Mr. Goldfarb served as CFO for Ecosphere Technologies, overseeing growth from $0 to $24 million and profitability. Mr. Goldfarb was also Managing Director of WSI Europe, a division of the Weather Channel from 1998 until 2002. From 2002 to 2007, Mr. Goldfarb served as interim-CFO for MOWIS GmbH, a weather technology media start-up company which was successfully sold to a large European media group. Mr. Goldfarb's extensive business and financial experience includes 10 years at a subsidiary of Fujitsu where he served as Director of Operations for a new software venture. Mr. Goldfarb started his formal career at IBM and was given responsibility for an account team focu
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description of Exhibit 10.1 Employment Agreement, dated as of April 25, 2024, between Duos Technologies Group, Inc. and Adrian G. Goldfarb. 99.1 Press Release dated April 30, 2024 104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)
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. DUOS TECHNOLOGIES GROUP, INC. Dated: April 30, 2024 By: /s/ Charles P. Ferry Charles P. Ferry Chief Executive Officer