Usio Reports Executive/Director Changes, Compensation on Jan 26

TL;DR

**Usio filed an 8-K about executive changes and compensation on January 26, 2024.**

AI Summary

Usio, Inc. filed an 8-K on February 1, 2024, reporting an event that occurred on January 26, 2024. This filing indicates a change in the company's executive or director compensation arrangements, or a departure/election of officers/directors. While specific names or dollar amounts are not detailed in this excerpt, such changes can signal shifts in company strategy or leadership stability, which could impact investor confidence and the stock's future performance.

Why It Matters

Changes in leadership or executive compensation can signal strategic shifts or potential instability, directly influencing investor perception and the company's operational direction.

Risk Assessment

Risk Level: medium — Without specific details on the changes, there's an unknown impact on company stability and future performance, posing a medium risk.

Analyst Insight

Investors should monitor subsequent filings or company announcements for specific details regarding the executive/director changes and compensation arrangements to assess their potential impact on Usio, Inc.'s future performance and strategic direction.

Key Numbers

• 2024-01-26 — Date of earliest event reported (The date the reported event, likely related to executive changes or compensation, occurred.)
• 2024-02-01 — Filing Date (The date the 8-K was officially filed with the SEC.)
• 001-15093 — SEC File Number (The unique identification number for Usio, Inc.'s filings with the SEC.)
• 210-249-4100 — Business Phone Number (Contact number for Usio, Inc.)

Key Players & Entities

• Usio, Inc. (company) — the registrant filing the 8-K
• Nevada (company) — state of incorporation for Usio, Inc.
• 3611 Paesanos Parkway, Suite 300, San Antonio, TX 78231 (company) — business and mail address of Usio, Inc.
• Payment Data Systems Inc (company) — former name of Usio, Inc. until 2019-05-02
• BILLSERV INC (company) — former name of Usio, Inc. until 2001-12-19

FAQ

Key Financial Figures

• $0.001 — ch registered Common stock , par value $0.001 per share USIO The Nasdaq Stock Mark
• $180,000 — ols. Mr. White's annual salary will be $180,000, effective February 1, 2024. Mr. White
• $240,000 — ion Committee approved a base salary of $240,000 per annum for Mr. Frost, effective Febr
• $800,000 — ef Executive Officer of the Company, of $800,000, effective February 1, 2024. Mr. Hoch w

Filing Documents

• usio20240131_8k.htm (8-K) — 27KB
• ex_621748.htm (EX-10.1) — 11KB
• 0001437749-24-002820.txt ( ) — 169KB
• usio-20240126.xsd (EX-101.SCH) — 3KB
• usio-20240126_def.xml (EX-101.DEF) — 11KB
• usio-20240126_lab.xml (EX-101.LAB) — 15KB
• usio-20240126_pre.xml (EX-101.PRE) — 11KB
• usio20240131_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. (c) On January 26, 2024, Michael White was appointed as Senior Vice President, Chief Accounting Officer of Usio, Inc. (the "Company") as well as the principal accounting and financial officer of the Company for purposes of the Securities Exchange Act of 1934, as amended, effective February 1, 2024. Mr. White, age 27, has been employed by the Company since September 2020. Prior to his appointment as Chief Accounting Officer, Mr. White was an accounting analyst from September 2020 to August 2021, Assistant Controller from August 2021 to April 2022 and Vice President, Controller from April 2022 until his appointment as Chief Accounting Officer in January 2024. Prior to his employment with the Company, from May 2016 to September 2020, Mr. White was an Accounting Associate with EPIcenter, an energy startup founded by the Board of Directors of CPS Energy, Itron, Landis+Gyr, and OCI Solar. In this position, Mr. White, EPIcenter's first financial employee, helped establish an accounting system utilizing software to automate accounting tasks; presented financial statements to the Board of Directors; managed application and reporting processes for multiple government energy grant programs; managed annual audit and tax filing procedures; and established compliance with policies and procedures, as well as determined effectiveness of internal controls. Mr. White's annual salary will be $180,000, effective February 1, 2024. Mr. White will also be eligible for grants of awards under the Company's equity incentive programs and annual bonus plans as well as other employment benefits for which all employees of the Company are eligible. In addition, Houston Frost, the Company's Senior Vice President, Corporate Development and Prepaid Services, was promoted to Senior Vice President, Chief Product Officer, In connection with

Financial Statements and Exhibits

Financial Statements and Exhibits. 10.1 Ninth Amendment to Employment Agreement Dated to be effective as of February 1, 2024 by and between the Company and Louis A. Hoch 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE 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. Date: February 1, 2024 USIO, INC. By: /s/ Louis A. Hoch Name: Louis A. Hoch Title: Chief Executive Officer and President

View Full Filing

View this 8-K filing on SEC EDGAR