Moving iMage Technologies Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement
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Item 1.01 | Other Events |
On February 28, 2024, Moving iMage Technologies, Inc. (the “Company”) and Joe Delgado, Executive Vice President of Sales (“Joe Delgado”) agreed to sell 49,586 shares of common stock at a price of $0.667 per share (based on the closing stock price as of February 27, 2024) for a total of $33,073.35, which amount represents satisfaction of Mr. Delgado’s $25,036.52 outstanding obligation to the Company plus an estimated $8,036.83 in federal and California state income taxes incurred in connection with the sale. The $8,036.83 amount will be deposited in Mr. Delgado’s payroll tax withholding accounts with the Company. Upon purchase, the shares will be cancelled by the Company.
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.
Moving iMage Technologies, Inc. | ||
Date: March 5, 2024 | By: | /s/ William Greene |
Name: | William Greene | |
Title: | Chief Financial Officer | |