Attached files
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| EX-10 - EXECUTIVE EMPLOYMENT AGREEMENT DATED JANUARY 1, 2021 BETWEEN MOBILESMITH, INC. A - MobileSmith, Inc. | lepore_renewal.htm |
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 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): January 1, 2021
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MOBILESMITH,
INC.
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(Exact Name of Registrant as Specified in Its
Charter)
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Delaware
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(State or Other Jurisdiction of Incorporation)
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001-32634
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95-4439334
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(Commission File
Number)
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(IRS Employer
Identification No.)
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5400
Trinity Rd., Suite 208
Raleigh,
North Carolina
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27607
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(Address of
Principal Executive Offices)
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(Zip
Code)
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855-516-2413
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(Registrant’s
Telephone Number, Including Area Code)
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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:
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☐
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Written
communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
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☐
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Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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☐
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
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☐
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
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Securities
registered pursuant to Section 12(b) of the Act: None
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Title
of each class
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Trading
Symbol(s)
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Name
of each exchange on which registered
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Indicate
by check mark whether the registrant is an emerging growth company
as defined in in Rule 405 of the Securities Act of 1933
(§230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (§240.12b-2 of this
chapter).
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Emerging growth
company ☐
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If
an emerging growth company, indicate by checkmark 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
1.01 Entry into a Material Definitive Agreement.
On January 1, 2021
(the “Effective Date”), MobileSmith, Inc. (the
“Company”) renewed through December 31, 2021 the
Executive Employment Agreement with Jerry Lepore to serve as the
Company’s Chief Executive Officer (the “Renewal
Agreement”). Mr. Lepore has served as the Company’s
Chief Executive Officer since January 17,
2020.
As
of the Effective Date and in connection with the Renewal Agreement,
Mr. Lepore was granted additional options to purchase up to 375,000
shares of the Company's common stock at a per share exercise price
of $3.45, which was the closing price of the Company’s common
stock on January 4, 2020. The options will have a term of 10 years
and vest quarterly over 5 years.
The foregoing
summary of certain terms of the Renewal Agreement does not purport
to be complete and is subject to, and qualified in their entirety
by, the full text of Renewal Agreement, a copy of which is attached
hereto as Exhibit 10.1 and is hereby incorporated into this Current
Report on Form 8- K by reference.
Item
5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
Compensatory
Arrangements for Existing Officers and Director
All information set
forth in Item 1.01 of this Current Report on Form 8-K is hereby
incorporated herein by reference.
Item
9.01 Financial Statements and Exhibits.
(d)
Exhibit
10.1
Executive
Employment Agreement dated January 1, 2021 between MobileSmith,
Inc. and Jerry Lepore.
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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.
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Date:
January 5, 2021
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Company Name: MobileSmith Inc.
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By: /s/ Gleb
Mikhailov
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Gleb
Mikhailov
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Chief
Financial Officer
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