Flux Power Holdings Reports Director Changes and Officer Appointments
Ticker: FLUX · Form: 8-K · Filed: Apr 24, 2024 · CIK: 1083743
Sentiment: neutral
Topics: management-change, governance, filing
TL;DR
Flux Power Holdings shakes up board and exec team, files 8-K.
AI Summary
Flux Power Holdings, Inc. filed an 8-K on April 24, 2024, reporting on events that occurred on April 18, 2024. The filing details the departure of directors, election of new directors, appointment of officers, and compensatory arrangements for certain officers. It also covers the submission of matters to a vote of security holders and includes financial statements and exhibits.
Why It Matters
This filing indicates significant changes in the company's leadership and governance structure, which could impact strategic direction and operational oversight.
Risk Assessment
Risk Level: medium — Changes in board and executive leadership can signal underlying issues or strategic shifts that may affect the company's future performance.
Key Players & Entities
- Flux Power Holdings, Inc. (company) — Registrant
- Nevada (jurisdiction) — State of Incorporation
- 001-31543 (identifier) — SEC File Number
- 92-3550089 (identifier) — IRS Number
- 2685 S. Melrose Drive, Vista, CA 92081 (address) — Business and Mail Address
FAQ
Who has departed from Flux Power Holdings' board or officer positions?
The filing indicates the departure of directors and certain officers, though specific names are not detailed in the provided text.
Were any new directors or officers appointed?
Yes, the filing reports on the election of directors and the appointment of certain officers.
What is the date of the earliest event reported in this 8-K?
The earliest event reported is dated April 18, 2024.
What other items are covered in this 8-K filing besides personnel changes?
The filing also covers the submission of matters to a vote of security holders and includes financial statements and exhibits.
What is Flux Power Holdings' state of incorporation and fiscal year end?
Flux Power Holdings, Inc. is incorporated in Nevada and its fiscal year ends on June 30.
Filing Stats: 1,554 words · 6 min read · ~5 pages · Grade level 11.6 · Accepted 2024-04-24 16:05:32
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value FLUX Nasdaq Capital Marke
- $80,000 — sed on an aggregate grant date value of $80,000 divided by $4.69 per share, which was t
- $4.69 — grant date value of $80,000 divided by $4.69 per share, which was the 10-day volume
- $3,750 — $ - $ - (1) Committee Member Fees: $3,750 for non-chair committee members of the
- $2,500 — tee members of the Audit Committee, and $2,500 for non-chair committee members of the
Filing Documents
- form8-k.htm (8-K) — 68KB
- 0001493152-24-015793.txt ( ) — 240KB
- flux-20240418.xsd (EX-101.SCH) — 3KB
- flux-20240418_lab.xml (EX-101.LAB) — 33KB
- flux-20240418_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 3KB
02
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (d) New Director As described in Item 5.07 below, at the 2024 Annual Meeting of Stockholders held on April 18, 2024 (the "2024 ASM") of Flux Power Holdings, Inc. (the "Company"), the Company's stockholders elected Mr. Mark F. Leposky to serve as a director of the Company until the next annual meeting of stockholders. Upon Mr. Leposky's election as a director, Mr. Leposky was appointed as a member of the Audit Committee, the Compensation Committee and the chair of the Nominating and Corporate Governance Committee (collectively, the "Committees") of the Board of Directors (the "Board") of the Company. The Board has determined that Mr. Leposky satisfies the definition of "independent director" and the requirements for service on the Board's Committees under the NASDAQ listing standards. Below is a summary of Mr. Leposky's experience. Mark F. Leposky . Mr. Leposky was elected as a Board member by the shareholders at the 2024 ASM on April 18, 2024. Mr. Leposky has over 30 years of executive experience in operations, engineering, supply chain, product and commercial roles. Mr. Leposky is currently the Executive Vice President and Chief Supply Chain Officer at Topgolf Callaway Brands and has led the company's supply chain, engineering, and operations organization among other responsibilities since 2012. From 2018 to 2022, he also served as the EVP of Global Operations, Accessories and Licensing, and previously served as Senior Vice Present of Global Operations, Accessories and Licensing from 2012 and 2018 for Topgolf Callaway Brands. Prior to joining Topgolf Callaway Brands, Mr. Leposky was the Co-Founder, President and Chief Executive Officer of Gathering Storm dba Tmax Gear from 2005 to 2011, Chief Supply Chain Officer at Fisher Scientific International from 2004 to 2005 and Chief Operations Officer at Taylorm
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. Flux Power Holdings, Inc. a Nevada corporation By: /s/ Ronald F. Dutt Ronald F. Dutt, Chief Executive Officer Dated: April 24, 2024