Neonode Inc. Announces Board Changes
Ticker: NEON · Form: 8-K · Filed: Oct 8, 2024 · CIK: 87050
Sentiment: neutral
Topics: board-changes, management-changes
TL;DR
Neonode's board just got a shake-up: Thomas Billing out, Johan Lindgren & Per Norrblom in.
AI Summary
Neonode Inc. announced on October 7, 2024, a change in its Board of Directors. Specifically, Thomas Billing has resigned from his position as a director, effective immediately. The company has also elected two new directors, Johan Lindgren and Per Norrblom, to its board.
Why It Matters
Changes in a company's board of directors can signal shifts in strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Board changes can introduce uncertainty regarding future strategic direction and management stability.
Key Players & Entities
- Neonode Inc. (company) — Issuer of the report
- Thomas Billing (person) — Resigned director
- Johan Lindgren (person) — Newly elected director
- Per Norrblom (person) — Newly elected director
- October 7, 2024 (date) — Effective date of director resignation and election
FAQ
Who resigned from Neonode Inc.'s Board of Directors?
Thomas Billing resigned from Neonode Inc.'s Board of Directors.
When was the resignation effective?
The resignation of Thomas Billing was effective as of October 7, 2024.
Who were elected as new directors to Neonode Inc.'s Board?
Johan Lindgren and Per Norrblom were elected as new directors to Neonode Inc.'s Board.
What is the exact date of the earliest event reported in this 8-K filing?
The date of the earliest event reported in this 8-K filing is October 7, 2024.
In which state is Neonode Inc. incorporated?
Neonode Inc. is incorporated in Delaware.
Filing Stats: 712 words · 3 min read · ~2 pages · Grade level 10 · Accepted 2024-10-08 09:15:07
Key Financial Figures
- $0.001 — h registered Common Stock, par value $0.001 per share NEON The Nasdaq Stock Mar
- $25,000 — Kruk will receive cash compensation of $25,000 per year for his service on the Board.
Filing Documents
- ea0217008-8k_neonode.htm (8-K) — 26KB
- ea021700801ex99-1_neonode.htm (EX-99.1) — 6KB
- ex99-1_001.jpg (GRAPHIC) — 7KB
- 0001213900-24-086091.txt ( ) — 211KB
- neon-20241007.xsd (EX-101.SCH) — 3KB
- neon-20241007_lab.xml (EX-101.LAB) — 33KB
- neon-20241007_pre.xml (EX-101.PRE) — 22KB
- ea0217008-8k_neonode_htm.xml (XML) — 3KB
02. Departure of Directors or Certain Officers; Election
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On October 7, 2024, the Board of Directors of Neonode Inc. (the "Company") elected Peter Kruk to the Company's board of directors (the "Board") as a Class II director, effective October 7, 2024, in connection with an increase in the size of the Board from four directors to five directors. Mr. Kruk will serve until his successor is duly elected and qualified or until his death, resignation or removal, whichever is earliest to occur. Mr. Kruk will stand for re-election at the Company's next annual meeting of stockholders to be held in 2025. In accordance with the Company's current Non-Employee Director Compensation Policy, Mr. Kruk will receive cash compensation of $25,000 per year for his service on the Board. There is no arrangement or understanding between Mr. Kruk and any other persons pursuant to which he was elected as a director. In addition, he is not a party to any transaction, or series of transactions, required to be disclosed pursuant to Item 404(a) of Regulation S-K. There are no family relationships between Mr. Kruk and any of the Company's other directors or executive officers.
01. Regulation FD
Item 7.01. Regulation FD. On October 8, 2024, the Company issued a press release announcing the appointment of Peter Kruk as a new Class II Director. A copy of the press release is attached as Exhibit 99.1 hereto. The information furnished pursuant to this Item 7.01, including Exhibit 99.1, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities under that Section, or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, 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 99.1 Press Release of the Company dated October 8, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 1
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 thereunto duly authorized. Date: October 8, 2024 NEONODE INC. By: /s/ Fredrik Nihln Name: Fredrik Nihln Title: Interim President and Chief Executive Officer, Chief Financial Officer 2