Amendment: Usio Inc. filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits

Form 8-K/A date of report 03-01-25 true 0001088034 0001088034 2025-03-03 2025-03-03

 

FORM 8-K/A

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported):  March 3, 2025

 

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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 (see General Instruction A.2. below):

 

 

 

 

 

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). 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. ☐

 

 

 

This form 8-K/A amends the Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission (the "SEC") on March 5, 2025 (the "Original Report") by Usio, Inc (the "Company"). The Company has updated the effective dates within Item 5.02 and the exhibit index set forth in Item 9.01, alongside an update in the biographical section for Greg Carter from the Original Report. No other changes to the Original Report have been made, the text of which is set forth in its entirety below.

 

 

(c)  On February 20, 2025, Greg Carter, the Company’s Executive Vice President, Payment Acceptance, was promoted to Executive Vice President, Chief Revenue Officer. In connection with this promotion, the Compensation Committee approved a base salary of $300,000 per annum for Mr. Carter, effective March 1, 2025. Mr. Carter will also be eligible for grants of awards under the Company’s equity incentive programs and annual bonus plans as well as other employment benefits for which all employees of the Company are eligible. 

 

Mr. Carter, a veteran of the United States Marine Corps, has been with the Company for over five years and currently serves as our Executive Vice President of Payment Acceptance. Mr. Carter has served in numerous senior management roles within the telecommunications, billing and settlement, and retail industries. Notably, from August 2004 to May 2012, Mr. Carter was the Chief Executive Officer for BSG Clearing Solutions, with revenues of $142 million dollars. Additionally, Mr. Carter has held senior-level sales and marketing roles at MCI/Telecom *USA, US Long Distance, Qwest and nii Communications.

 

(e)  On February 20, 2025, the Compensation Committee of the Board of Directors of the Company approved an annual base salary for Louis Hoch, the Chairman of the Board, President and Chief Executive Officer of the Company, of $900,000, effective March 1, 2025. Mr. Hoch will also be eligible for grants of awards under the Company’s equity incentive programs and annual bonus plans as well as other employment benefits for which all employees of the Company are eligible.

 

In addition, the Compensation Committee of the Board of Directors of the Company approved an annual base salary for Michael White, the Senior Vice President, Chief Accounting Officer of the Company, of $230,000, effective March 1, 2025. Mr. White will also be eligible for grants of awards under the Company’s equity incentive programs and annual bonus plans as well as other employment benefits for which all employees of the Company are eligible.

 

 

 

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.