SilverSun Technologies Reports Director Changes and Compensatory Arrangements

TL;DR

SilverSun board shakeup and new pay deals filed. Watch for strategy shifts.

AI Summary

SilverSun Technologies, Inc. filed an 8-K on June 5, 2024, reporting on the departure of directors, election of new directors, and compensatory arrangements. The earliest event reported was May 30, 2024. The filing also includes financial statements and exhibits.

Why It Matters

Changes in board composition and executive compensation can signal shifts in company strategy and governance, impacting investor confidence and future performance.

Risk Assessment

Risk Level: medium — Changes in directors and compensatory arrangements can indicate internal shifts that may affect the company's future direction and stability.

Key Players & Entities

• SilverSun Technologies, Inc. (company) — Registrant
• Delaware (jurisdiction) — State of incorporation
• May 30, 2024 (date) — Earliest event reported
• June 5, 2024 (date) — Date of report

FAQ

Key Financial Figures

• $0.00001 — h registered Common shares (par value $0.00001 per share) SSNT The NASDAQ Capital
• $1,000,000,000 — ggregate investment by the Investors of $1,000,000,000 in cash in the Company (the " Equity In

Filing Documents

• ea0207355-8k_silversun.htm (8-K) — 49KB
• ea020735501ex10-1_silversun.htm (EX-10.1) — 113KB
• 0001213900-24-050099.txt ( ) — 365KB
• ssnt-20240530.xsd (EX-101.SCH) — 3KB
• ssnt-20240530_lab.xml (EX-101.LAB) — 33KB
• ssnt-20240530_pre.xml (EX-101.PRE) — 22KB
• ea0207355-8k_silversun_htm.xml (XML) — 3KB

02 Departure of Directors or Certain

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. At the special meeting of the stockholders of the Company on May 30, 2024, the stockholders approved the QXO, Inc. 2024 Omnibus Incentive Plan (the " Plan "), subject to, and effective upon the occurrence of, the closing of the Equity Investment. The Plan is described in detail in the Definitive Proxy (the " SEC ") on April 30, 2024, which description is incorporated herein by reference. The description of the Plan is qualified in its entirety by reference to the Plan, a copy of which is attached hereto as Exhibit 10.1 and is incorporated by reference herein.

Forward-Looking Statements

Forward-Looking Statements This Current Report on Form 8-K contains forward-looking statements. Statements that are not historical facts, including statements about beliefs, expectations, targets or goals, are forward-looking statements. These statements are based on plans, estimates, expectations and/or goals at the time the statements are made, and readers should not place undue reliance on them. In some cases, readers can identify forward-looking statements by the use of forward-looking terms such as "may," "will," "should," "expect," "opportunity," "intend," "plan," "anticipate," "believe," "estimate," "predict," "potential," "target," "goal," or "continue," or the negative of these terms or other comparable terms. Forward-looking statements involve inherent risks and uncertainties and readers are cautioned that a number of important factors could cause actual results to differ materially from those contained in any such forward-looking statements. Factors that could cause actual results to differ materially from those described herein include, among others: uncertainties as to the completion of the Equity Investment and the other transactions contemplated by the Investment Agreement, including the risk that one or more of the transactions may involve unexpected costs, liabilities or delays; risks associated with potential significant volatility and fluctuations in the market price of the Company's common stock; risks associated with the Company's relatively low public float, which may result in its common stock experiencing significant price volatility; the possibility that competing transaction proposals for the Company may be made; 1 risks associated with raising additional equity or debt capital from public or private markets to pursue the Company's business plan following the closing of the Equity Investment, including in an amount that may significantly exceed the amount of the Equity Investment, and the effects that raising such capital may ha

Forward-looking statements herein speak

Forward-looking statements herein speak only as of the date each statement is made. Neither the Company nor any person undertakes any obligation to update any of these

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 10.1+ QXO, Inc. 2024 Omnibus Incentive Plan 104 Cover Page Interactive Data File (formatted as Inline XBRL). + Indicates a management contract or any compensatory plan, contract or arrangement. 3

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. SILVERSUN TECHNOLOGIES, INC. Date: June 5, 2024 By: /s/ Mark Meller Mark Meller President, Chief Executive Officer 4

View Full Filing

View this 8-K filing on SEC EDGAR