UNITED STATES
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
|
January 8,
2021
|
|
Date of
Report (Date of Earliest Event Reported)
|
|
Insignia Systems,
Inc.
|
|
(Exact
Name of Registrant as Specified in its Charter)
|
|
Minnesota
|
|
001-13471
|
|
41-1656308
|
|
(State
of Incorporation)
|
|
(Commission
File Number)
|
|
(I.R.S.
Employer Identification No.)
|
|
8799 Brooklyn Blvd.Minneapolis, Minnesota
|
|
55445
|
|
(Address
of Principal Executive Offices)
|
|
(Zip
Code)
|
|
(763) 392-6200
|
|
(Registrant’s
Telephone Number, Including Area Code)
|
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):
☐
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 to Section 12(b) of the Act:
|
Title
of each class
|
|
Trading
Symbol
|
|
Name of
each exchange on which registered
|
|
Common Stock, par value $0.01 per share
|
|
ISIG
|
|
The Nasdaq Stock Market LLC
|
Indicate by check mark whether the registrant is an emerging growth
company as defined 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):
☐ 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 Arrangement of
Certain Officers.
As
previously announced, Jeffrey A. Jagerson ceased to serve as Chief
Financial Officer and Treasurer of Insignia Systems, Inc. (the
“Company”), effective January 8, 2021. In connection
with Mr. Jagerson’s departure, the Board of Directors, in
consultation with its Audit Committee, appointed Zackery A. Weber,
the Company’s existing Senior Director of Financial Planning
and Analysis, to serve in the additional position of interim
principal accounting officer, effective January 9, 2021. As
recognition for his increased responsibility, Mr. Weber's base
annual salary was increased to $145,000 for the fiscal year ending
December 31, 2021.
Mr.
Weber, age 41, was promoted to Senior Director of Financial
Planning Analysis in December 2020 and had previously served as
Director of Financial Planning and Analysis since August 2015. He
served as a Senior Financial Analyst for the Company from 2013 to
August 2015. Before joining the Company, Mr. Weber held analyst and
accounting positions at Target Corporation with increasing
responsibility from 2003 to 2013. He began his career as an auditor
at McGladrey & Pullen from 2002 to 2003. Mr. Weber holds a
Bachelor of Arts degree in Accounting from the University of St.
Thomas and an MBA in Finance & Management, from the University
of St. Thomas - Opus College of Business.
Kristine A. Glancy,
the Company’s existing President, Chief Executive Officer and
Secretary will serve in the additional position of interim
principal financial officer, effective January 9, 2021. The Board
of Directors, in consultation with management, expects to evaluate
the current finance organization structure and the necessary skill
set for the next chief financial officer. After this evaluation,
the Company plans to conduct a search for a new chief financial
officer, which may include internal candidates.
SIGNATURES
Pursuant to the
requirements of the Securities Exchange Act of 1934, the Registrant
has duly caused this Current Report to be signed on its behalf by
the undersigned hereunto duly authorized.
|
|
INSIGNIA SYSTEMS, INC.
|
|
|
|
|
|
|
|
|
|
|
Date: January 13, 2021
|
By:
|
/s/
Kristine A. Glancy
|
|
|
|
|
|
Kristine A. Glancy
|
|
|
|
|
|
President and Chief Executive Officer
|
|
|