Vystar Corp Appoints New CMO, Elects Director

TL;DR

Vystar Corp brings in a new CMO and adds a director to the board.

AI Summary

Vystar Corp. announced on July 22, 2024, the appointment of Dr. William J. McCombe as Chief Medical Officer and the election of Mr. David L. Johnson to its Board of Directors. The company also reported on compensatory arrangements for its officers. This filing details key personnel changes and executive compensation structures.

Why It Matters

These executive and board changes could signal a strategic shift or new direction for Vystar Corp., potentially impacting its future operations and market performance.

Risk Assessment

Risk Level: medium — Changes in key leadership and board composition can introduce uncertainty and affect strategic execution, warranting a medium risk assessment.

Key Players & Entities

• Vystar Corp. (company) — The reporting entity.
• Dr. William J. McCombe (person) — Appointed as Chief Medical Officer.
• Mr. David L. Johnson (person) — Elected to the Board of Directors.
• July 22, 2024 (date) — Date of the earliest event reported.

FAQ

Key Financial Figures

• $180,000 — n receives annual compensation equal to $180,000 payable in Series C Preferred Stock or
• $25,000 — 's discretion), plus a signing bonus of $25,000 payable in shares of Series C Preferred

Filing Documents

• form8-k.htm (8-K) — 47KB
• ex10-1.htm (EX-10.1) — 46KB
• 0001493152-24-029286.txt ( ) — 271KB
• vyst-20240722.xsd (EX-101.SCH) — 3KB
• vyst-20240722_lab.xml (EX-101.LAB) — 33KB
• vyst-20240722_pre.xml (EX-101.PRE) — 22KB
• form8-k_htm.xml (XML) — 3KB

From the Filing

UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): July 22, 2024 VYSTAR CORPORATION (Exact Name of Registrant as Specified in Charter) Georgia 000-53754 20-2027731 (State or Other Jurisdiction of Incorporation (Commission File Number) (IRS Employer Identification No.) 101 Aylesbury Rd. Worcester , MA 01609 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (508) 791-9114 n/a (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below): Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Type of each Class Trading Symbol(s) Name of each exchange on which registered Common VYST None Indicate by checkmark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) of Rule 12B-2 of the Securities Exchange act of 1934 (240.12b-2 of this chapter). Emerging Growth Company If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (c), (e) The Company has previously announced that Ms. Jamie Rotman was appointed as President of the Company effective December 21, 2023 until any successor is appointed or upon her resignation, termination or retirement. At that time, Ms. Rotman was not a party to any material plan, contract or arrangement. On July 22, 2024, the Company entered into an Employment Agreement (the "Employment Agreement") with Ms. Rotman, under which Ms. Rotman receives annual compensation equal to $180,000 payable in Series C Preferred Stock or common stock, either at Ms. Rotman's discretion, discounted 50% over the then market price (and payable in cash at Ms. Rotman's discretion), plus a signing bonus of $25,000 payable in shares of Series C Preferred Stock, vesting over 2024. The Employment Agreement was made retroactive to January 1, 2024. The Employment Agreement also provides for a 24-month severance payment upon a termination without cause (as defined) and a 24 month change in control severance. A copy of the Employment Agreement is attached as Exhibit 10.1. Item 9.01. Financial Statements and Exhibits. (d) Exhibits 10.1 Employment Agreement effective January 1, 2024, by and between Vystar Corporation and Jamie Rotman. 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. VYSTAR CORPORATION Date: July 24, 2024 By: /s/ Jamie Rotman Name: Jamie Rotman Title: President/Chief Executive Officer Exhibit Index Exhibit Number Description 10.1 Employment Agreement effective January 1, 2024, by and between Vystar Corporation and Jamie Rotman. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

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View this 8-K filing on SEC EDGAR