Inseego Corp. filed SEC Form 8-K: Leadership Update
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On July 30, 2024, the board of directors (the “Board”) of Inseego Corp. (the “Company”) extended the appointment of Philip G. Brace as Executive Chairman, effective immediately, for a six (6) month term, which will automatically renew for an additional six (6) month term unless either the Company or Mr. Brace provides notice of non-renewal at least 10 days prior the end of the initial six-month extension term.
Mr. Brace will continue to receive $20,000 per month for his service as Executive Chairman. In addition, the Board awarded Mr. Brace 32,397 fully vested RSUs as compensation for his service as Executive Chairman of the Company since February 2024, and 100,000 RSUs, which shall vest 50% in six months and 50% in 12 months, subject to Mr. Brace’s continued service as Executive Chairman.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.
| INSEEGO CORP. | |||
| Date: August 5, 2024 | By: | /s/ Steven Gatoff | |
| Name: Steven Gatoff | |||
| Title: Chief Financial Officer | |||
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