SOBR Safe, Inc. Announces 2024 Annual Meeting of Stockholders on June 3

TL;DR

<b>SOBR Safe, Inc. will hold its 2024 Annual Meeting of Stockholders virtually on June 3, 2024, to vote on director elections, executive compensation, and a potential reverse stock split.</b>

AI Summary

SOBR Safe, Inc. (SOBR) filed a Proxy Statement (DEF 14A) with the SEC on May 13, 2024. The 2024 Annual Meeting of Stockholders for SOBR Safe, Inc. will be held virtually on June 3, 2024. Stockholders will vote on four proposals: election of five directors, advisory vote on executive compensation, advisory vote on compensation frequency, and a reverse stock split authorization. The proposed reverse stock split ratio can range from 1-for-2 to 1-for-150. The meeting will be conducted via webcast at www.virtualshareholdermeeting.com/SOBR2024. The company's primary focus is on improving behavioral outcomes and saving lives.

Why It Matters

For investors and stakeholders tracking SOBR Safe, Inc., this filing contains several important signals. The proposed reverse stock split is intended to help the company maintain its listing on the Nasdaq Capital Market, which is crucial for investor liquidity and access to capital. The annual meeting is a key governance event where shareholders exercise their voting rights on critical matters affecting the company's leadership and financial strategy.

Risk Assessment

Risk Level: medium — SOBR Safe, Inc. shows moderate risk based on this filing. The company is seeking authorization for a reverse stock split, indicating potential financial distress or a need to meet minimum share price requirements for Nasdaq listing, which carries inherent risks.

Analyst Insight

Stockholders should carefully review the details of the proposed reverse stock split and its potential impact on share value and future trading before voting.

Key Numbers

• 5 — Directors to be elected (Proposal 1: Election of directors)
• 4 — Proposals for stockholder approval (Total number of proposals at the meeting)
• 1:2 to 1:150 — Reverse stock split range (Potential range for the reverse stock split)

Key Players & Entities

• SOBR Safe, Inc. (company) — Registrant name and filer
• June 3, 2024 (date) — Date of the Annual Meeting
• Nasdaq Capital Market (company) — Stock exchange where the company's common stock is listed
• 1:2 (dollar_amount) — Minimum ratio for reverse stock split
• 1:150 (dollar_amount) — Maximum ratio for reverse stock split

FAQ

Risk Factors

• Reverse Stock Split Authorization [medium — financial]: The company seeks authorization to implement a reverse stock split to maintain its Nasdaq listing, which could dilute shareholder value if not managed effectively.

Industry Context

SOBR Safe, Inc. operates in the technology sector, focusing on solutions related to behavioral outcomes and safety.

Regulatory Implications

The filing is a Definitive Proxy Statement (DEF 14A) filed under the Securities Exchange Act of 1934, a standard regulatory requirement for public companies holding annual meetings.

What Investors Should Do

1. Review the proxy statement for detailed information on each proposal, especially the reverse stock split.
2. Vote your shares prior to the June 3, 2024 meeting date.
3. Consider the potential impact of a reverse stock split on your investment in SOBR Safe, Inc.

Key Dates

• 2024-06-03: 2024 Annual Meeting of Stockholders — Key date for stockholder voting on proposals

Year-Over-Year Comparison

This filing is a DEF 14A, indicating it's the definitive proxy statement for the upcoming annual meeting, following any preliminary filings.

Key Financial Figures

• $46M — ured gift market space with revenues of $46M. Prior to his engagement at IPS, Mr. Ga
• $200M — its successful IPO in 2000 raising over $200M. Previously, Mr. Gandini founded Pace N

Filing Documents

• sobr_def14a.htm (DEF 14A) — 550KB
• sobr_def14cimg1.jpg (GRAPHIC) — 76KB
• sobr_def14cimg2.jpg (GRAPHIC) — 6KB
• sobr_def14cimg3.jpg (GRAPHIC) — 5KB
• sobr_def14cimg4.jpg (GRAPHIC) — 5KB
• sobr_def14cimg5.jpg (GRAPHIC) — 12KB
• sobr_def14cimg6.jpg (GRAPHIC) — 141KB
• sobr_def14cimg7.jpg (GRAPHIC) — 113KB
• 0001477932-24-002750.txt (&nbsp;) — 1043KB

Forward Looking Statements

Forward Looking Statements This Proxy Statement may contain certain "forward-looking" statements, as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), in connection with the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, as well as assumptions that, if they never materialize or prove incorrect, could cause our results to differ materially and adversely from those expressed or implied by such forward-looking statements. Such forward-looking statements include statements about our expectations, beliefs or intentions regarding actions contemplated by this Proxy Statement, our potential business, financial condition, results of operations, strategies or prospects. You can identify forward-looking statements by the fact that these statements do not relate strictly to historical or current matters. Rather, forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made and are often identified by the use of words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," or "will," and similar expressions or variations. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause our actual results to differ materially from any future results expressed or implied by the forward-looking statements. Many factors could cause our actual activities or results to differ materially from the activities and results anticipated in forward-looking statements. These factors include those described under the caption "Risk Factors" included in our other filings with the Securities and Exchange Commission ("SEC"), including the disclosures set forth in Item 1A of our Form 10-K for the year ended December 31, 2023. Furthermore, such forward-loo

View Full Filing

View this DEF 14A filing on SEC EDGAR