Nexalin Technology Files 8-K on Leadership Changes & Financials
Ticker: NXL · Form: 8-K · Filed: Sep 19, 2024 · CIK: 1527352
| Field | Detail |
|---|---|
| Company | Nexalin Technology, INC. (NXL) |
| Form Type | 8-K |
| Filed Date | Sep 19, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001, $300,000, $40,000 b, $60,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: corporate-governance, leadership-change, financials
Related Tickers: NXL
TL;DR
Nexalin Tech (NXL) filed an 8-K detailing director/officer changes and financial updates. Keep an eye on leadership shifts.
AI Summary
Nexalin Technology, Inc. filed an 8-K on September 19, 2024, reporting on the departure of directors, election of directors, appointment of officers, and compensatory arrangements. The filing also includes financial statements and exhibits, with the earliest event reported as September 16, 2024. The company is incorporated in Delaware and its fiscal year ends on December 31.
Why It Matters
This 8-K filing provides crucial updates on Nexalin Technology's corporate governance and financial reporting, which can impact investor confidence and strategic direction.
Risk Assessment
Risk Level: medium — 8-K filings often contain significant corporate events, and changes in leadership or financial disclosures can introduce uncertainty.
Key Players & Entities
- Nexalin Technology, Inc. (company) — Registrant
- September 16, 2024 (date) — Earliest event reported
- September 19, 2024 (date) — Filing date
- Delaware (jurisdiction) — State of incorporation
FAQ
What specific leadership changes are detailed in this 8-K filing?
The filing indicates changes related to the departure of directors, election of directors, and appointment of certain officers, along with details on compensatory arrangements for these officers.
What is the earliest event date reported in this filing?
The earliest event reported in this filing is September 16, 2024.
When was this 8-K form filed with the SEC?
This 8-K form was filed on September 19, 2024.
In which state is Nexalin Technology, Inc. incorporated?
Nexalin Technology, Inc. is incorporated in Delaware.
What other information is included in this 8-K filing besides leadership changes?
The filing also includes financial statements and exhibits.
Filing Stats: 710 words · 3 min read · ~2 pages · Grade level 11.7 · Accepted 2024-09-19 16:31:39
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share NXL The Nasdaq Stock Mark
- $300,000 — n will receive an annual base salary of $300,000. In addition, Ms. Shelton will be eligi
- $40,000 b — le for an annual discretionary bonus of $40,000 based on the achievement of certain perfo
- $60,000 — Company's Common Stock with a value of $60,000 (determined based on the exercise price
Filing Documents
- nexalintec_8k.htm (8-K) — 33KB
- nexalintec_ex10-1.htm (EX-10.1) — 14KB
- ex10-1.jpg (GRAPHIC) — 47KB
- 0001829126-24-006349.txt ( ) — 329KB
- nxl-20240916.xsd (EX-101.SCH) — 4KB
- nxl-20240916_def.xml (EX-101.DEF) — 26KB
- nxl-20240916_lab.xml (EX-101.LAB) — 36KB
- nxl-20240916_pre.xml (EX-101.PRE) — 25KB
- nexalintec_8k_htm.xml (XML) — 6KB
02
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On September 16, 2024, Nexalin Technology, Inc. ("Nexalin") appointed Carolyn Shelton as Senior Vice President Quality, Regulatory and Clinical Affairs, effective as of September 16, 2024. Prior to joining Nexalin, Ms. Shelton, age 62, served as Vice President, Regulatory, Quality and Clinical of Openwater Health, LLC, Vice President, Worldwide Regulatory, Quality, Medical Affairs, and Product Steward for Advanced Sterilization Products, Inc., and Vice President, Regulatory, Quality, Medical Affairs, and Clinical for Medtronic. Nexalin entered into a letter agreement (the "Letter Agreement") with Ms. Shelton in connection with her appointment as Senior Vice President Quality, Regulatory and Clinical Affairs. The Letter Agreement provides that Ms. Shelton will receive an annual base salary of $300,000. In addition, Ms. Shelton will be eligible for an annual discretionary bonus of $40,000 based on the achievement of certain performance milestones. Nexalin has also agreed to grant Ms. Shelton, subject to approval of the Board of Directors and based on the achievement of certain milestones, stock options pursuant to the Company's 2023 Equity Incentive Plan to purchase shares of the Company's Common Stock with a value of $60,000 (determined based on the exercise price approved by the Board). Such options will vest equally over a three year period, beginning on September 16, 2025. Other than the Letter Agreement, there is no arrangement or understanding with any person pursuant to which Ms. Shelton was appointed as Nexalin's Senior Vice President Quality, Regulatory and Clinical Affairs, and there are no family relationships between Ms. Shelton and any director or executive officer of Nexalin. Additionally, there are no transactions between Ms. Shelton and Nexalin that would be required to be reported under I
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. Exhibit Description 10.1 Letter Agreement between Nexalin Technology, Inc. and Carolyn Shelton 104 Cover Page Interactive File (the cover page tags are embedded within the Inline XBRL document) 1 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report on form 8-K to be signed on its behalf by the undersigned hereunto duly authorized. NEXALIN TECHNOLOGY, INC. By: /s/ Mark White Mark White Chief Executive Officer Dated: September 19, 2024 2