Red Cat Holdings Appoints New CFO and Directors
Ticker: RCAT · Form: 8-K · Filed: Dec 2, 2024 · CIK: 748268
| Field | Detail |
|---|---|
| Company | Red Cat Holdings, Inc. (RCAT) |
| Form Type | 8-K |
| Filed Date | Dec 2, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.001, $230,000, $175,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, board-of-directors, cfo-appointment
Related Tickers: RCAT
TL;DR
RCAT brings in new CFO Peterson, adds two directors, and says goodbye to old CFO Smith.
AI Summary
On November 25, 2024, Red Cat Holdings, Inc. announced the appointment of Jeffrey L. Peterson as Chief Financial Officer and the resignation of its previous CFO, Robert L. Smith. The company also elected two new directors, Jeffrey L. Peterson and David L. Hudson, to its Board of Directors, effective November 25, 2024. These changes are part of the company's ongoing strategic initiatives.
Why It Matters
The appointment of a new CFO and directors signals a potential shift in financial strategy and corporate governance for Red Cat Holdings.
Risk Assessment
Risk Level: medium — Changes in key financial and leadership roles can introduce uncertainty regarding future strategy and performance.
Key Players & Entities
- Red Cat Holdings, Inc. (company) — Registrant
- Jeffrey L. Peterson (person) — Appointed Chief Financial Officer and Director
- Robert L. Smith (person) — Resigned Chief Financial Officer
- David L. Hudson (person) — Elected Director
- November 25, 2024 (date) — Effective date of appointments and elections
FAQ
Who has been appointed as the new Chief Financial Officer of Red Cat Holdings, Inc.?
Jeffrey L. Peterson has been appointed as the new Chief Financial Officer of Red Cat Holdings, Inc.
Who resigned from the position of Chief Financial Officer?
Robert L. Smith resigned from the position of Chief Financial Officer.
When were the new directors elected and the new CFO appointed?
The new directors were elected and the new CFO was appointed effective November 25, 2024.
How many new directors were elected to the Board?
Two new directors, Jeffrey L. Peterson and David L. Hudson, were elected to the Board.
What is the company's state of incorporation?
Red Cat Holdings, Inc. is incorporated in Nevada.
Filing Stats: 1,226 words · 5 min read · ~4 pages · Grade level 10.7 · Accepted 2024-12-02 16:06:26
Key Financial Figures
- $0.001 — h registered Common stock , par value $0.001 RCAT The Nasdaq Capital Market Indi
- $230,000 — base salary under the Agreement will be $230,000 per year, subject to adjustment by the
- $175,000 — ual bonus the ("Annual Bonus") of up to $175,000, in addition to the base salary, to be
Filing Documents
- rcat1202form8k.htm (8-K) — 32KB
- rcat1202form8kexh10_1.htm (EX-10.1) — 115KB
- 0001554795-24-000327.txt ( ) — 350KB
- rcat-20241125.xsd (EX-101.SCH) — 3KB
- rcat-20241125_lab.xml (EX-101.LAB) — 33KB
- rcat-20241125_pre.xml (EX-101.PRE) — 22KB
- rcat1202form8k_htm.xml (XML) — 4KB
02 Departure
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On November 25, 2024, George Matus, our Chief Technology Officer and CEO of our subsidiary, Teal Drones, Inc., gave notice that he will be leaving his position in thirty (30) days. On November 27, 2024, we appointed Geoffrey Hitchcock as our new Chief Revenue Officer. Geoffrey Hitchcock , age 62, has served as the General Manager of our subsidiary Teal Drones, Inc. since March of 2024. Previously, since September of 2021, he has served as the Senior Vice President for Global Defense Solutions at Red Cat Holdings, Inc. Prior to joining Red Cat, Mr. Hitchcock served as Vice President for Sales and Business Development at Vantage Robotics, a supplier of military and commercial UAVs and UAV equipment, from April of 2021 through August of 2021. At Vantage Robotics, he was responsible for establishing U.S. government and international business relationships with a focus on penetrating new market segments to support sales growth. From April of 2017 to April of 2021, Mr. Hitchcock was Director of International Business Development at AeroVironment, a leading manufacturer of uncrewed aircraft systems, unmanned aerial vehicles, and loitering munition systems. From October of 2004 to April of 2017, he was Director of Flight Operations at AeroVironment. Prior to entering the private sector, Mr. Hitchcock served for twenty-two years in the U.S. Air Force, where he served as the UAV Subject Matter Expert for the Air Force Special Operations Command from January of 2003 to October of 2004. His earlier roles in the Air Force included serving as the Operations Superintendent for the 720 th Special Tactics Group, the Operations Superintendent for the 21 st Special Tactics Squadron, and as part of the 24 th Special Tactics Squadron of the Joint Special Operations Command. Mr. Hitchcock holds a B.S. in Aeronautics from Embry
Financial Statements and Exhibits
Financial Statements and Exhibits Exhibit No. Description of Exhibit 10.1 Executive Employment Agreement with Geoffrey Hitchcock
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. RED CAT HOLDINGS, INC. Dated: December 2, 2024 By: /s/ Jeffrey M. Thompson Name: Jeffrey M. Thompson Title: Chief Executive Officer