Versus Systems Inc. Reports Board and Officer Changes
Ticker: VS · Form: 8-K · Filed: Jul 1, 2024 · CIK: 1701963
Sentiment: neutral
Topics: management-change, executive-compensation
TL;DR
Versus Systems Inc. shook up its board and exec team on June 25th. Watch for compensation details.
AI Summary
On June 25, 2024, Versus Systems Inc. filed an 8-K report detailing changes in its board of directors and executive officers. The company also disclosed information regarding compensatory arrangements for certain officers. Specific details on the individuals involved and the nature of the compensatory arrangements were provided in the filing.
Why It Matters
Changes in a company's leadership and executive compensation can signal shifts in strategy or financial health, impacting investor confidence and stock performance.
Risk Assessment
Risk Level: medium — Changes in board and executive personnel can indicate internal restructuring or strategic shifts that may carry inherent risks.
Key Players & Entities
- Versus Systems Inc. (company) — Registrant
- June 25, 2024 (date) — Date of earliest event reported
FAQ
What specific changes were made to Versus Systems Inc.'s board of directors?
The filing indicates changes related to the election of directors, but specific names of departing or newly elected directors are not detailed in the provided excerpt.
Were there any changes in the executive officers of Versus Systems Inc.?
Yes, the filing reports on the departure of certain officers and the appointment of certain officers.
What is the nature of the compensatory arrangements disclosed?
The filing mentions compensatory arrangements of certain officers, but the specific details of these arrangements are not elaborated in the provided text.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on June 25, 2024.
What is Versus Systems Inc.'s state of incorporation?
Versus Systems Inc. is incorporated in British Columbia.
Filing Stats: 961 words · 4 min read · ~3 pages · Grade level 10.7 · Accepted 2024-07-01 17:19:41
Key Financial Figures
- $10,000 — l." His annual base salary is initially $10,000 per month, subject to adjustment, and h
Filing Documents
- ea0208745-8k_versus.htm (8-K) — 34KB
- ea020874501ex10-1_versus.htm (EX-10.1) — 8KB
- ea020874501ex10-2_versus.htm (EX-10.2) — 67KB
- ea020874501ex99-1_versus.htm (EX-99.1) — 6KB
- ex10-1_001.jpg (GRAPHIC) — 10KB
- 0001213900-24-057984.txt ( ) — 362KB
- vs-20240625.xsd (EX-101.SCH) — 4KB
- vs-20240625_def.xml (EX-101.DEF) — 26KB
- vs-20240625_lab.xml (EX-101.LAB) — 36KB
- vs-20240625_pre.xml (EX-101.PRE) — 25KB
- ea0208745-8k_versus_htm.xml (XML) — 5KB
02 Departure
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (a), (b), (c), (d), (e) On June 25, 2024, Versus Systems, Inc. (the "Company") Chief Executive Officer and Director Matthew Pierce, Chair of the Board Keyvan Peymani, Chief Financial Officer Craig Finster, and independent directors Michelle Gahagan and Shannon Pruitt tendered their resignations from the Company, effective immediately. These departures are not the result of any disagreements with the Company with respect to any matter relating to the Company's operations, policies, or practices. On June 25, 2024, the Company announced that its Board has appointed Curtis Wolfe as Chief Executive Officer and Chief Financial Officer effective immediately. Mr. Wolfe has been designated as the Company's principal executive officer, principal financial officer and principal accounting officer for purposes of its filings with the U.S. Securities and Exchange Commission. Prior to joining the Company, Mr. Wolfe was the Managing Partner of Curtis Wolfe Law PA in Miami, Florida and prior to that he was a Partner in the Corporate Law group of Shutts & Bowen LLP, a Florida based law firm with nearly 300 attorneys. Mr. Wolfe also is an Adjunct Faculty Member teaching Transactional Skills I & II (a practical course on business contracting and mergers and acquisitions) at the University of Miami School of Law. He has been licensed to practice law in Florida and Delaware for more than 25 years. Mr. Wolfe is 60 years old and has no familial relationships with any executive officer or director of the Company. There have been no transactions in which the Company has participated and in which Mr. Wolfe had a direct or indirect material interest that would be required to be disclosed under Item 404(a) of Regulation S-K. On June 26, 2024, Mr. Wolfe entered into an offer of employment letter with the Company (the "Wolfe Offer Le
01. Financial
Item 9.01. Financial (d) Exhibits Exhibit No. Description 10.1 Offer Letter, dated June 26, 2024, by and between Versus Systems Inc. and Curtis Wolfe. 10.2 Form of Separation Agreement. 99.1 Press release dated July 1, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 2
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. VERSUS SYSTEMS INC. Date: July 1, 2024 By: /s/ Curtis Wolfe Name: Curtis Wolfe Title: Chief Executive Officer 3