Lantronix Inc. Reports Board and Executive Compensation Changes
Ticker: LTRX · Form: 8-K · Filed: Sep 27, 2024 · CIK: 1114925
| Field | Detail |
|---|---|
| Company | Lantronix Inc (LTRX) |
| Form Type | 8-K |
| Filed Date | Sep 27, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: governance, executive-compensation, board-of-directors
TL;DR
Lantronix filed an 8-K for board changes and exec comp updates. Keep an eye on governance.
AI Summary
On September 24, 2024, Lantronix, Inc. filed an 8-K report detailing changes in its board of directors and executive compensation. The filing includes the election of new directors and updates to compensatory arrangements for certain officers, though specific names and dollar amounts related to these changes are not detailed in the provided excerpt.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in board composition and executive compensation can indicate internal shifts that may affect the company's direction and performance.
Key Players & Entities
- Lantronix, Inc. (company) — Registrant
- September 24, 2024 (date) — Date of earliest event reported
FAQ
What specific changes were made to the board of directors?
The filing indicates the election of directors, but the specific names and details of the changes are not provided in this excerpt.
Were there any changes to executive officer positions?
The filing mentions 'Departure of Directors or Certain Officers' and 'Appointment of Certain Officers', suggesting potential changes, but specific details are not in the provided text.
What is the nature of the 'Compensatory Arrangements of Certain Officers' mentioned?
The filing notes updates to compensatory arrangements for certain officers, but the specific details of these arrangements are not elaborated upon in the provided excerpt.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was on September 24, 2024.
What is Lantronix, Inc.'s principal executive office address?
Lantronix, Inc.'s principal executive offices are located at 48 Discovery, Suite 250, Irvine, California, 92618.
Filing Stats: 547 words · 2 min read · ~2 pages · Grade level 11.8 · Accepted 2024-09-27 08:10:10
Key Financial Figures
- $0.0001 — ge on which registered Common Stock , $0.0001 par value LTRX The Nasdaq Stock Marke
Filing Documents
- lantronix_8k.htm (8-K) — 26KB
- 0001683168-24-006689.txt ( ) — 197KB
- ltrx-20240924.xsd (EX-101.SCH) — 3KB
- ltrx-20240924_lab.xml (EX-101.LAB) — 33KB
- ltrx-20240924_pre.xml (EX-101.PRE) — 24KB
- lantronix_8k_htm.xml (XML) — 4KB
02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On September 24, 2024, Christa Steele, a member of the Board of Directors (the "Board") of Lantronix, Inc. (the "Company"), notified the Company of her decision not to stand for re-election at the Company's 2024 annual meeting of stockholders (the "Annual Meeting"). Ms. Steele will continue to serve as a director and member of the Audit Committee until the Annual Meeting. Effective as of the date of the Annual Meeting, the size of the Board will be reduced to five directors. "While Christa's tenure was short, her experience, perspective and contributions were invaluable in supporting the Company during our inflection point," said Saleel Awsare, President and Chief Executive Officer. "On behalf of management and the Board, we wish her well in all her other endeavors." "The Company has accomplished a great deal in these last several months and I am proud to be a part of the Company during its transition," said Ms. Steele. "I am confident in Lantronix's future under Saleel's leadership. At this time, I must shift my focus to other commitments which demand my attention." 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. LANTRONIX, INC. By: /s/ Saleel Awsare Saleel Awsare President and Chief Executive Officer Date: September 27, 2024 3