Socket Mobile Announces 2024 Annual Meeting of Stockholders

TL;DR

<b>Socket Mobile will hold its 2024 Annual Meeting of Stockholders virtually on May 15, 2024, to vote on director elections, executive compensation, and equity plan amendments.</b>

AI Summary

SOCKET MOBILE, INC. (SCKT) filed a Proxy Statement (DEF 14A) with the SEC on March 28, 2024. Annual Meeting scheduled for May 15, 2024, in a virtual format. Key agenda items include election of five director nominees. Stockholders will vote on advisory approval of executive compensation. Proposal to amend the 2004 Equity Incentive Plan for a stock option exchange program. Ratification of Sadler, Gibb & Associates, LLC as independent auditor.

Why It Matters

For investors and stakeholders tracking SOCKET MOBILE, INC., this filing contains several important signals. The meeting will address the election of directors and the approval of executive compensation, which are standard governance procedures impacting shareholder rights and company leadership. A key proposal involves amending the 2004 Equity Incentive Plan to include a stock option exchange program, potentially affecting equity compensation and shareholder dilution.

Risk Assessment

Risk Level: low — SOCKET MOBILE, INC. shows low risk based on this filing. The filing is a routine proxy statement for an annual meeting with standard proposals, indicating no immediate significant financial or operational changes.

Analyst Insight

Stockholders should review the proxy materials to make informed voting decisions on director nominees, executive compensation, and equity plan amendments.

Key Numbers

• May 15, 2024 — Annual Meeting Date (Date of the 2024 Annual Meeting of Stockholders)
• 5 — Director Nominees (Number of director nominees to be elected)
• 10:30 AM PDT — Meeting Time (Time of the virtual meeting)

Key Players & Entities

• SOCKET MOBILE, INC. (company) — Registrant
• Lynn Zhao (person) — Chief Financial Officer
• Sadler, Gibb & Associates, LLC (company) — Independent Auditor
• 2004 Equity Incentive Plan (company) — Plan to be amended

FAQ

Risk Factors

• Filing Type Correction [low — regulatory]: The filing was refiled to correct an EDGAR file type error from DEFC14A to DEF14A.

Industry Context

Socket Mobile, Inc. operates in the technology sector, focusing on mobile data capture and connectivity solutions.

Regulatory Implications

The filing is made under Section 14(a) of the Securities Exchange Act of 1934, governing proxy solicitations.

What Investors Should Do

1. Review the list of director nominees and their qualifications.
2. Evaluate the advisory vote on executive compensation.
3. Understand the details and implications of the proposed amendment to the 2004 Equity Incentive Plan.

Key Dates

• 2024-05-15: Annual Meeting of Stockholders — To elect directors, approve executive compensation, and amend equity incentive plan.

Glossary

DEF 14A

Definitive Proxy Statement filed with the SEC. (This filing type indicates the company is providing definitive proxy materials to shareholders for voting at an annual meeting.)

Stock Option Exchange Program

A program allowing existing stock options to be surrendered in exchange for new options, often with different terms. (This program can impact employee incentives and potentially shareholder dilution if new options are granted.)

Year-Over-Year Comparison

This is a routine proxy statement for the 2024 annual meeting and does not appear to be a refiling of a prior period's financial statements.

Filing Documents

• proxy-2024.htm (DEF 14A) — 634KB
• 0000944075-24-000017.txt (&nbsp;) — 635KB

From the Filing

DEF 14A 1 proxy-2024.htm DEFINITIVE PROXY STATEMENT UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant /x/ Filed by a Party other than the Registrant / / Check the appropriate box: / / Preliminary Proxy Statement / / Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) /x/ Definitive Proxy Statement / / Definitive Additional Materials / / Soliciting Material Pursuant to &sect;Section 240.14a-11(c) or Section &sect;240.14a-12 SOCKET MOBILE, INC. (Name of Registrant as Specified in its Charter) Payment of Filing Fee (Check the appropriate box): /x/ No fee required. / / Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11. 1) Title of each class of securities to which transaction applies: N/A 2) Aggregate number of securities to which transaction applies: N/A 3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): N/A 4) Proposed maximum aggregate value of transaction: N/A 5) Total fee paid: N/A / / Fee paid previously with preliminary materials. / / Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. 1) Amount Previously Paid: N/A 2) Form, Schedule or Registration Statement No.: N/A 3) Filing Party: N/A 4) Date Filed: N/A This document is being refiled solely for the purpose of correcting an error in the EDGAR file type. Previously it was incorrectly filed under form type DEFC14A (File No. 001-13810). It is now being filed under file type DEF14A. SOCKET MOBILE, INC. NOTICE OF 2024 ANNUAL MEETING OF STOCKHOLDERS To Be Held May 15, 2024 Dear Stockholders: You are cordially invited to attend the Annual Meeting of Stockholders of Socket Mobile, Inc., a Delaware corporation (the &quot;Company&quot;), to be held Wednesday, May 15, 2024, at 10:30 AM PDT, in a virtual meeting format. To obtain the meeting link, stockholders should send an email request to the Company&rsquo;s Chief Financial Officer, Lynn Zhao at lynn@socketmobile.com. The request must include the control number from your proxy voting card. The purposes of the meeting are as follows: (1) To elect the five director nominees named in the accompanying Proxy Statement, each to serve for a term of one year and until their respective successors are elected. (2) To approve on a non-binding, advisory basis the compensation of Company&rsquo;s named executive officers, as described in the accompanying Proxy Statement. (3) To approve an amendment to the 2004 Equity Incentive Plan to provide for a one-time stock option exchange program. (4) To ratify the appointment of Sadler, Gibb & Associates, LLC as independent registered public accountants of the Company for the fiscal year ending December 31, 2024. (5) To transact such other business as may properly come before the meeting or any adjournment or postponement thereof. The foregoing items of business are more fully described in the Proxy Statement accompanying this notice. Only stockholders of record at the close of business on March 22, 2024, are entitled to notice of and to vote at the meeting. All stockholders are cordially invited to attend the meeting. However, to ensure your representation at the meeting, you are urged to mark, sign, date, and return the enclosed Proxy as promptly as possible following the instructions on your proxy ballot. Sincerely, Kevin Mills President and Chief Executive Officer Fremont, California March 27, 2024 YOUR VOTE IS IMPORTANT. IN ORDER TO ENSURE YOUR REPRESENTATION AT THE ANNUAL MEETING, YOU ARE REQUESTED TO COMPLETE, SIGN AND DATE THE ENCLOSED PROXY CARD AS PROMPTLY AS POSSIBLE AND RETURN IT IN THE ENCLOSED ENVELOPE, OR VOTE BY PHONE OR BY INTERNET WHERE AVAILABLE. This Proxy is solicited on behalf of the Board of Directors of Socket Mobile, Inc. 2024 ANNUAL MEETING OF STOCKHOLDERS The undersigned stockholder of SOCKET MOBILE, INC., a Delaware corporation, hereby acknowledges receipt of the Notice of Annual Meeting of Stockholders and Proxy Statement, each dated March 27, 2024 and hereby appoints Kevin J. Mills and Lynn Zhao, and each of them, proxies and attorneys-in-fact, with full power to each of substitution, on behalf and in the name of the undersigned, to represent the undersigned at the 2024 Annual Meeting of Stockholders of SOCKET MOBILE, INC. to be held on Wednesday, May 15, 2024 at 10:30 a.m. Pacific Time, in a virtual meeting format (To obtain the meeting link, stockholders shou

View Full Filing

View this DEF 14A filing on SEC EDGAR