Lantronix 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 Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Director Resignation
On February 3, 2025, Philip Brace provided to the Board of Directors (the “Board”) of Lantronix, Inc. (the “Company”) notification of his resignation from the Board, effective as of February 5, 2025. Mr. Brace will resign from the Board in connection with his appointment as chief executive officer of Skyworks Solutions Inc. and not as a result of any disagreement with the Company or its management on any matter relating to the Company’s operations, policies, or practices.
Mr. Brace joined the Board in August 2023 and served in a number of capacities during his tenure with the Company, including most recently as Chair of the Compensation Committee and a member of the Audit Committee.
The Board has reduced the size of the Board from five to four, effective as of February 5, 2025.
New Committee Assignments
As a result of Mr. Brace’s resignation, the Board has appointed (i) Kevin Palatnik as Chair of the Compensation Committee and (ii) Narbeh Derhacobian as a member of the Audit Committee, each effective as of February 5, 2025.
| Item 7.01. | Regulation FD Disclosure. |
On February 5, 2025, the Company issued a press release regarding Mr. Brace’s resignation from the Board. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
The information contained in Item 7.01 of this Current Report on Form 8-K (including Exhibit 99.1 hereto) shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be, or be deemed, incorporated by reference in any filings under the Securities Act of 1933, as amended (the “Securities Act”), unless the Company specifically states that the information is to be considered “filed” under the Exchange Act or incorporates it by reference into a filing under the Securities Act or the Exchange Act.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit No. | Description | |
| 99.1 | ||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
| 2 |
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.
| LANTRONIX, INC. | |||
| By: |
/s/ Brent Stringham | ||
Brent Stringham Chief Financial Officer | |||
Date: February 5, 2025
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