UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Securities Exchange Act of 1934
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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. |
Effective as of January 17, 2024, Larry Steenvoorden the Chief Financial Officer and the Registrant agreed to a mutual separation. Mr. Steenvoorden’s separation is not the result of any disagreement with the Registrant or its Board of Directors or management relating to the Registrant’s operations, policies or practices or any issues regarding its accounting policies or practices. As part of Mr. Steenvoorden’s separation, the Registrant entered into a Separation Agreement and Release whereby he will receive $233,333 and the employer portion of COBRA coverage, less applicable payroll deductions, to be paid over eight months.
Effective January 17, 2024, Norman Roth the Registrant’s Controller and Principal Accounting Officer has been appointed Interim Chief Financial Officer until such time as a new Chief Financial Officer is appointed.
Mr. Roth, 68, joined the Registrant as the Controller and Principal Accounting Officer in September 2014. Prior to joining the Registrant, Mr. Roth worked as a forensic accountant since 2003 primarily in the accounting malpractice area. From 1991 through 2002, Mr. Roth served as the Director of External Reporting, Treasury and Tax and later as Business Manager of WWOR-TV. Mr. Roth began his career at Ernst & Young LLP in 1977 and left as a senior manager after 13 years of service. Mr. Roth received his Bachelor of Arts degree summa cum laude from Rutgers College and his Master of Business Administration -Taxation from Fairleigh Dickinson University. Mr. Roth is a certified public accountant and a certified fraud examiner.
Mr. Roth’s annual base salary will be increased to $240,000. Mr. Roth continues to be eligible to participate in benefit plans and programs generally available to other similarly situated employees of the Registrant. There are no family relationships between Mr. Roth and any director or executive officer of the Registrant. Mr. Roth has no direct or indirect material interest in any related party transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit No. | Description | |
| 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.
| CareCloud, Inc. | ||
| Date: January 19, 2024 | By: | /s/ A. Hadi Chaudhry |
| A. Hadi Chaudhry | ||
| Chief Executive Officer | ||
| 3 |