Paysign Appoints Mark J. Shaker as New CEO
Ticker: PAYS · Form: 8-K · Filed: Apr 19, 2024 · CIK: 1496443
| Field | Detail |
|---|---|
| Company | Paysign, Inc. (PAYS) |
| Form Type | 8-K |
| Filed Date | Apr 19, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001, $3,750,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: leadership-change, executive-appointment
TL;DR
Paysign CEO Mark Scaparro out, Mark Shaker in as new CEO & board member.
AI Summary
On April 17, 2024, Paysign, Inc. announced the appointment of Mark J. Shaker as its new Chief Executive Officer, effective immediately. Shaker, who previously served as the company's President and Chief Operating Officer, will also join the Board of Directors. He succeeds Mark R. Scaparro, who will transition to an advisory role.
Why It Matters
This leadership change at Paysign, Inc. could signal a new strategic direction for the company under its new CEO, potentially impacting its future growth and market position.
Risk Assessment
Risk Level: medium — CEO changes can introduce uncertainty regarding strategy and execution, potentially impacting investor confidence.
Key Numbers
- 001-38623 — SEC File Number (Identifies the company's filings with the SEC.)
- 95-4550154 — IRS Employer Identification Number (Company's tax identification number.)
Key Players & Entities
- Paysign, Inc. (company) — Registrant
- Mark J. Shaker (person) — Newly appointed CEO and Board Member
- Mark R. Scaparro (person) — Outgoing CEO transitioning to advisor
- Nevada (location) — State of incorporation
- 2615 St. Rose Parkway, Henderson, Nevada 89052 (location) — Principal executive offices address
FAQ
Who has been appointed as the new CEO of Paysign, Inc.?
Mark J. Shaker has been appointed as the new CEO of Paysign, Inc.
When was the appointment of the new CEO effective?
The appointment of Mark J. Shaker as CEO was effective immediately as of April 17, 2024.
What was Mark J. Shaker's previous role at Paysign, Inc.?
Mark J. Shaker previously served as the company's President and Chief Operating Officer.
Who is the outgoing CEO and what will be his new role?
Mark R. Scaparro is the outgoing CEO and will transition to an advisory role.
Will the new CEO also join the Board of Directors?
Yes, Mark J. Shaker will also join the Board of Directors.
Filing Stats: 461 words · 2 min read · ~2 pages · Grade level 11.5 · Accepted 2024-04-19 08:30:10
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value per share PAYS The Nasdaq S
- $3,750,000 — ed class of purchasers in the amount of $3,750,000, the entirety of which is being paid fr
Filing Documents
- paysign_8k.htm (8-K) — 25KB
- 0001683168-24-002525.txt ( ) — 193KB
- pays-20240417.xsd (EX-101.SCH) — 3KB
- pays-20240417_lab.xml (EX-101.LAB) — 33KB
- pays-20240417_pre.xml (EX-101.PRE) — 22KB
- paysign_8k_htm.xml (XML) — 4KB
01 Other Events
Item 8.01 Other Events. On April 17, 2024, the United class action lawsuit entitled In re Paysign, Inc. Securities Litigation , which had been brought against Paysign, Inc. (the "Company") and certain of its current or former directors and officers. As previously described in the Company's Annual Report on Form 10-K filed on March 27, 2024, under the settlement, all claims against the Company and the individual defendants have been dismissed with prejudice, in exchange for payment to the referenced class of purchasers in the amount of $3,750,000, the entirety of which is being paid from proceeds of the Company's directors-and-officers insurance policy. 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. PAYSIGN, INC. Date: April 18, 2024 By: /s/ Mark Newcomer Mark Newcomer, Chief Executive Officer 3