Network-1 Technologies Announces CFO Departure and Appointment
Ticker: NTIP · Form: 8-K · Filed: Jul 24, 2024 · CIK: 1065078
| Field | Detail |
|---|---|
| Company | Network-1 Technologies, Inc. (NTIP) |
| Form Type | 8-K |
| Filed Date | Jul 24, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-change, cfo, board-of-directors
TL;DR
CFO Stegman out, Grooms in at Network-1. Effective July 18.
AI Summary
Network-1 Technologies, Inc. announced on July 18, 2024, changes in its executive and director roles. Effective July 18, 2024, Michael J. Stegman resigned as Chief Financial Officer and Treasurer, and also as a director. Concurrently, David J. Grooms was appointed as the new Chief Financial Officer and Treasurer.
Why It Matters
This filing indicates a change in key financial leadership, which could impact the company's financial strategy and investor confidence.
Risk Assessment
Risk Level: medium — Changes in key executive positions, especially the CFO, can introduce uncertainty regarding financial strategy and operations.
Key Players & Entities
- Network-1 Technologies, Inc. (company) — Registrant
- Michael J. Stegman (person) — Departing CFO and Director
- David J. Grooms (person) — Appointed CFO and Treasurer
- July 18, 2024 (date) — Effective date of changes
FAQ
Who has been appointed as the new Chief Financial Officer and Treasurer?
David J. Grooms has been appointed as the new Chief Financial Officer and Treasurer.
When were the changes in executive and director roles effective?
The changes were effective as of July 18, 2024.
Who resigned from their positions?
Michael J. Stegman resigned as Chief Financial Officer and Treasurer, and as a director.
What were Michael J. Stegman's roles prior to his resignation?
Michael J. Stegman was the Chief Financial Officer, Treasurer, and a director of Network-1 Technologies, Inc.
What is the company's Central Index Key (CIK)?
The company's Central Index Key (CIK) is 0001065078.
Filing Stats: 427 words · 2 min read · ~1 pages · Grade level 11.4 · Accepted 2024-07-24 10:30:04
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 per share NTIP NYSE American Chec
Filing Documents
- form8k.htm (8-K) — 29KB
- 0001072613-24-000592.txt ( ) — 196KB
- ntip-20240718.xsd (EX-101.SCH) — 3KB
- ntip-20240718_lab.xml (EX-101.LAB) — 33KB
- ntip-20240718_pre.xml (EX-101.PRE) — 22KB
- form8k_htm.xml (XML) — 4KB
02 Departure of Directors or Certain Officers; Election of Directors; Appointment
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensation Arrangements of Certain Officers. On July 18, 2024, Emanuel Pearlman notified Network-1 Technologies, Inc.( the " Company") of his decision not to stand for re-election as a director at the Company's 2024 annual meeting of stockholders. Mr. Pearlman's decision not to stand for re-election as a director was for personal reasons and not as a result of any disagreement with the Company. -2- SIGNATURE 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. NETWORK-1 TECHNOLOGIES, INC. Dated: July 24, 2024 By: /s/ Corey M. Horowitz Name:Corey M. Horowitz Title:Chairman and Chief Executive Officer -3-