WidePoint Corporation filed SEC Form 8-K: Leadership Update, 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.
On May 16, 2024, WidePoint Corporation (the “Company”) entered into new employment agreements with each of its executive officers: Jin Kang, Chief Executive Officer and President, Todd Dzyak, Executive Vice President, and Chief Operating Officer, Robert George, Executive Vice President, and Chief Financial Officer, Jason Holloway, Executive Vice President, and Chief Revenue Officer and Ian Sparling, Executive Vice President, and Chief Operating Officer, International. The employment agreements are substantially the same as the prior employment agreements except that the agreements: (i) were each extended to December 31, 2027 (with one year auto-renewal); (ii) provide for an annual base salary of $375,000 for Kang, $275,000 for Todd Dzyak, $275,000 for Robert George, $275,000 for Jason Holloway and €250,000 for Ian Sparling; (iii) provide for an annual target bonus of 50% of base salary with a maximum of 100% (other than Mr. Kang’s whose is targets are 75% and 150%, respectively and (iv) provide for an award of 10,000 shares of restricted stock subject to time vesting (20,000 for Mr. Kang).
A copy of each of the employment agreements are filed herewith and the foregoing descriptions are qualified by reference to the full text thereof.
Item 9.01(d) Financial Statements and Exhibits
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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.
| WIDEPOINT CORPORATION |
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Date: May 20, 2024 | /s/ Jin Kang |
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| Jin Kang |
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| Chief Executive Officer |
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