VerifyMe Appoints New Directors and CFO, Adjusts Executive Pay
Ticker: VRME · Form: 8-K · Filed: Jun 10, 2024 · CIK: 1104038
| Field | Detail |
|---|---|
| Company | Verifyme, Inc. (VRME) |
| Form Type | 8-K |
| Filed Date | Jun 10, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, board-of-directors, executive-compensation
Related Tickers: VRME
TL;DR
VerifyMe shakes up board, names new CFO, and adjusts exec pay. New faces, new money.
AI Summary
VerifyMe, Inc. announced on June 4, 2024, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, David L. Johnson and Michael R. M. Jones, and appointed Michael R. M. Jones as Chief Financial Officer. The filing also details new employment agreements and stock option grants for key executives, including CEO Scott W. Marks Jr.
Why It Matters
These changes in leadership and compensation structure can signal a new strategic direction or a response to performance, potentially impacting investor confidence and the company's future performance.
Risk Assessment
Risk Level: medium — Changes in executive leadership and compensation can introduce uncertainty and signal potential shifts in strategy, which carries inherent risk.
Key Players & Entities
- VerifyMe, Inc. (company) — Registrant
- David L. Johnson (person) — Newly elected director
- Michael R. M. Jones (person) — Newly elected director and CFO
- Scott W. Marks Jr. (person) — CEO
- June 4, 2024 (date) — Date of earliest event reported
FAQ
Who were the new directors elected to the VerifyMe, Inc. board?
David L. Johnson and Michael R. M. Jones were elected as new directors.
What is Michael R. M. Jones' new role in addition to being a director?
Michael R. M. Jones was appointed as the Chief Financial Officer (CFO) of VerifyMe, Inc.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on June 4, 2024.
What is the company's state of incorporation?
VerifyMe, Inc. is incorporated in Nevada.
What is the company's primary business activity according to its SIC code?
VerifyMe, Inc.'s Standard Industrial Classification (SIC) code is 7373, which corresponds to SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN.
Filing Stats: 435 words · 2 min read · ~1 pages · Grade level 13.7 · Accepted 2024-06-10 16:15:32
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share VRME The Nasdaq Capital M
Filing Documents
- o6102408k.htm (8-K) — 26KB
- 0001214659-24-010754.txt ( ) — 236KB
- vrme-20240604.xsd (EX-101.SCH) — 4KB
- vrme-20240604_def.xml (EX-101.DEF) — 26KB
- vrme-20240604_lab.xml (EX-101.LAB) — 36KB
- vrme-20240604_pre.xml (EX-101.PRE) — 25KB
- o6102408k_htm.xml (XML) — 5KB
02 Departure of Directors or Certain Officers;
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On June 4, 2024, VerifyMe, Inc. (the "Company") terminated Curt Kole's employment effective June 30, 2024 from all positions with the Company and its subsidiaries, including as the Company's Executive Vice President of Precision Logistics and as Executive Vice President, Global Sales and Strategy of the Company's wholly owned subsidiary PeriShip Global LLC.
SIGNATURES
SIGNATURES 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. VerifyMe, Inc. Date: June 10, 2024 By: /s/ Adam Stedham Adam Stedham Chief Executive Officer and President