Research Solutions Announces Executive & Director Changes
Ticker: RSSS · Form: 8-K · Filed: Oct 4, 2024 · CIK: 1386301
| Field | Detail |
|---|---|
| Company | Research Solutions, Inc. (RSSS) |
| Form Type | 8-K |
| Filed Date | Oct 4, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001, $425,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, board-of-directors, executive-appointments
TL;DR
Research Solutions shuffled its board and exec team, expect new strategies.
AI Summary
On October 4, 2024, Research Solutions, Inc. filed an 8-K report detailing changes in its executive and director positions. The filing indicates a departure of directors or certain officers, an election of new directors, and the appointment of certain officers. It also covers compensatory arrangements for these officers.
Why It Matters
Changes in key leadership roles and compensation structures can significantly impact a company's strategic direction and investor confidence.
Risk Assessment
Risk Level: medium — Changes in executive and director positions can signal shifts in strategy or internal dynamics, introducing uncertainty.
Key Players & Entities
- Research Solutions, Inc. (company) — Registrant
- October 4, 2024 (date) — Filing Date
FAQ
What specific roles have been affected by the director and officer changes?
The filing indicates a departure of directors or certain officers, an election of directors, and the appointment of certain officers, but does not specify the exact roles affected in this summary.
Are there any details on the new directors or officers appointed?
The filing states that directors have been elected and officers appointed, but specific names or biographies are not provided in the summary information.
What is the nature of the compensatory arrangements mentioned?
The filing notes that compensatory arrangements of certain officers are covered, but the specific details of these arrangements are not elaborated upon in the provided text.
When was Research Solutions, Inc. incorporated and in which state?
Research Solutions, Inc. was incorporated in Nevada.
What is the principal business address and phone number of Research Solutions, Inc.?
The principal executive offices are located at 10624 S. EASTERN AVE, SUITE A-614, HENDERSON, NV 89052, and the telephone number is (310) 477-0354.
Filing Stats: 608 words · 2 min read · ~2 pages · Grade level 12 · Accepted 2024-10-04 16:05:43
Key Financial Figures
- $0.001 — nge on which registered Common stock, $0.001 par value RSSS The Nasdaq Capital Ma
- $425,000 — r will receive an annual base salary of $425,000 and is eligible to participate in the R
Filing Documents
- tm2425310d1_8k.htm (8-K) — 22KB
- 0001104659-24-106260.txt ( ) — 183KB
- rsss-20241004.xsd (EX-101.SCH) — 3KB
- rsss-20241004_lab.xml (EX-101.LAB) — 33KB
- rsss-20241004_pre.xml (EX-101.PRE) — 22KB
- tm2425310d1_8k_htm.xml (XML) — 3KB
02
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On October 4, 2024, the Registrant entered into an Employment Agreement with Roy W. Olivier (the "Olivier Agreement") governing Mr. Olivier's continuing employment as the Registrant's Chief Executive Officer and President, and as the Chief Executive Officer and President of the Registrant's subsidiaries as requested by the Registrant's board of directors. Mr. Olivier will receive an annual base salary of $425,000 and is eligible to participate in the Registrant's executive bonus plan as determined by the Registrant's Board of Directors. Upon the termination of Mr. Olivier employment for any reason, Mr. Olivier will receive his accrued but unpaid salary and vacation pay through the date of termination and any other benefits accrued to him under any benefit plans outstanding at such time, any earned but unpaid bonus, and the reimbursement of documented, unreimbursed expenses incurred prior to such date. Upon the Registrant's termination of Mr. Olivier employment without Cause (as defined in the Olivier Agreement) or upon Mr. Olivier's termination of his employment for Good Reason (as defined in the Olivier Agreement), Mr. Olivier shall also receive cash payments (based on his base salary pro-rated for the applicable period) over the 18-month period following the termination date. Mr. Olivier will also receive a pro-rated bonus, if any, payable at the same time that the bonus would be paid if he had remained employed. All payments to Mr. Olivier under the Olivier Agreement are subject to withholding of applicable taxes. Mr. Olivier will also be subject to non-solicitation and non-competition covenants for a period of two years following the termination of his employment with the Registrant. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this repor