Lendway, Inc. Reports Director, Officer Changes
Ticker: TULP · Form: 8-K · Filed: Jun 11, 2024 · CIK: 875355
| Field | Detail |
|---|---|
| Company | Lendway, Inc. (TULP) |
| Form Type | 8-K |
| Filed Date | Jun 11, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.01, $100,000, $17,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: corporate-governance, executive-compensation, filing-update
Related Tickers: LDWY
TL;DR
LENDWAY, INC. (LDWY) filed an 8-K on 6/5/24 for director/officer changes & comp. plans.
AI Summary
On June 5, 2024, LENDWAY, INC. (formerly INSIGNIA SYSTEMS INC/MN) filed an 8-K report detailing changes in its board of directors and executive officers. The filing also includes information on compensatory arrangements for certain officers and a Regulation FD disclosure. The company, incorporated in Delaware, is headquartered in Minneapolis, Minnesota.
Why It Matters
Changes in a company's board and executive team can signal shifts in strategy or governance, impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — The filing primarily concerns routine corporate governance and executive compensation disclosures, with no immediate financial distress or significant operational changes indicated.
Key Players & Entities
- LENDWAY, INC. (company) — Registrant
- INSIGNIA SYSTEMS INC/MN (company) — Former Company Name
- June 5, 2024 (date) — Date of Earliest Event Reported
- Delaware (jurisdiction) — State of Incorporation
- Minneapolis, Minnesota (location) — Principal Executive Offices
FAQ
What specific changes were made to the board of directors or executive officers?
The filing indicates changes related to the 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers,' but the specific details of these changes are not provided in the provided text.
What is the nature of the 'Compensatory Arrangements of Certain Officers' mentioned?
The filing states that information regarding 'Compensatory Arrangements of Certain Officers' is included, but the specifics of these arrangements are not detailed in the provided text.
What is the purpose of the 'Regulation FD Disclosure'?
The filing indicates a 'Regulation FD Disclosure' is included, which typically pertains to the public disclosure of material non-public information to ensure fair and widespread dissemination.
When was LENDWAY, INC. formerly known as?
LENDWAY, INC. was formerly known as INSIGNIA SYSTEMS INC/MN, with a date of name change on March 28, 1993.
Where are LENDWAY, INC.'s principal executive offices located?
LENDWAY, INC.'s principal executive offices are located at 5000 West 36th Street, Suite 220, Minneapolis, Minnesota 55416.
Filing Stats: 1,021 words · 4 min read · ~3 pages · Grade level 8.3 · Accepted 2024-06-11 17:22:21
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share LDWY The Nasdaq Stock Mar
- $100,000 — will receive an initial base salary of $100,000. The employment agreements do not conta
- $17,000 — onsisting of an annual cash retainer of $17,000. On June 5, 2024, Randy D. Uglem, our
Filing Documents
- ldwy_8k.htm (8-K) — 31KB
- ldwy_ex101.htm (EX-10.1) — 63KB
- ldwy_ex102.htm (EX-10.2) — 66KB
- ldwy_ex991.htm (EX-99.1) — 8KB
- ldwy_ex991img2.jpg (GRAPHIC) — 3KB
- 0001654954-24-007621.txt ( ) — 329KB
- ldwy-20240605.xsd (EX-101.SCH) — 6KB
- ldwy-20240605_lab.xml (EX-101.LAB) — 14KB
- ldwy-20240605_cal.xml (EX-101.CAL) — 1KB
- ldwy-20240605_pre.xml (EX-101.PRE) — 9KB
- ldwy-20240605_def.xml (EX-101.DEF) — 2KB
- ldwy_8k_htm.xml (XML) — 4KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. On June 11, 2024, the Company issued a press release announcing Mr. Jundt and Mr. Philp's selections to serve as Co-Chief Executive Officers, the text of which is furnished as Exhibit 99.1 to this report and incorporated into this Item 7.01 by reference. Due to their new statuses as employees of the Company, Mr. Jundt and Mr. Philp have each ceased service on the Board's Governance, Compensation and Nominating Committee as of June 10, 2024. The committee now comprises continuing member and chair, Nicholas J. Swenson, and new members, Chad B. Johnson, and Matthew R. Kelly. The information in this Item 7.01 and Exhibit 99.1 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section. This information shall not be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference to such disclosure in this Form 8-K in such a filing.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Employment Agreement with Mark R. Jundt, dated June 11, 2024 10.2 Employment Agreement with Daniel C. Philp, dated June 11, 2024 99.1 Press Release dated June 11, 2024 104 Cover Page Interactive Data File 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Current Report to be signed on its behalf by the undersigned hereunto duly authorized. LENDWAY, INC. Date: June 11, 2024 By: /s/ Elizabeth E. McShane Elizabeth E. McShane Chief Financial Officer 3