AgEagle Aerial Systems Inc. filed SEC Form 8-K: Leadership Update, Regulation FD Disclosure, Financial Statements and Exhibits
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Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.
On November 17, 2024, the board of directors (the “Board”) of AgEagle Aerial Systems Inc. (the “Company”) appointed L.B. Day to serve as an independent director of the Company, effective immediately. Mr. Day was also appointed as a member of the Company’s Audit Committee, the Compensation Committee, and Chairman of the Nominating and Corporate Governance Committee.
Mr. Day recently retired as president of L.B. Day & Company, whose parent company he co-founded in 1977. Mr. Day is well known for his work in strategic planning, organization design and executive team development, Mr. Day has consulted at the executive level with organizations that include Advanced Micro Devices, Applied Materials, Brewer Science, DuPont-Air Products Nanomaterials, Digimarc, Fujitsu, Global Foundries, IBM, Intel, Lam Research, Mary’s Woods, New Focus, NWEA, Valid USA, Ramtron, Raytheon, Sun Microsystems, TechWise, Western Digital, YottaMark, Xerox, and various US government agencies, implementing strategic planning, marketing, organization improvement and executive-team development strategies. He has developed professional texts and training materials on strategic planning, culture development, and team leadership, and has held the positions of adjunct professor at the Oregon Graduate Institute of Science and Technology and the Willamette University Graduate School of Administration.
Mr. Day has served on numerous boards of directors including those of startups, nonprofits, and publicly held companies. He served for 27 years on the board of directors of Microchip Technology (NASDAQ: MCHP) from 1994 until 2021. Currently, he is on the board of Okika Technologies Corporation, serving since 2018, and is a member of the advisory board of Exokeryx, Inc.
Mr. Day earned his MBA from George Washington University, where he was a Scottish Rite Fellow.
Mr. Day will receive compensation for his Board and committee service in accordance with the Company’s outside director compensation program as previously described in the Company’s filings with the Securities and Exchange Commission, including an annual cash retainer of $60,000, prorated for any partial years of service.
There is no family relationship between Mr. Day and any other executive officer or director of the Company. There are no transactions in which Mr. Day has an interest requiring disclosure under Item 404(a) of Regulation S-K. There is no arrangement or understanding between Mr. Day and any other persons pursuant to which he was selected as a director.
Item 7.01 Regulation FD Disclosure.
A copy of the press release announcing Mr. Day’s appointment to the Board is furnished hereto as Exhibit 99.1 to this Current Report on Form 8-K. The information contained in Item 7.01 and Exhibit 99.1 is being furnished and shall not be deemed “filed” for purposes of the Securities and Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Registrant under the Securities Act of 1933, as amended, or the Exchange Act, unless specifically identified therein as being incorporated by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit Number |
Description | |
| 99.1 | Press Release, dated November 21, 2024. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
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.
| Dated: November 21, 2024 | AGEAGLE AERIAL SYSTEMS INC. | |
| By: | /s/ William Irby | |
| Name: | William Irby | |
| Title: | Chief Executive Officer | |