Form 8-K - Current report
06 2월 2024 - 7:25AM
Edgar (US Regulatory)
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2024-02-05
2024-02-05
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): February 5, 2024
DIGITAL
ALLY, INC.
(Exact
name of registrant as specified in its charter)
Nevada |
|
001-33899 |
|
20-0064269 |
(State
or other jurisdiction
of
incorporation) |
|
(Commission
File
Number) |
|
(IRS
Employer
Identification
No.) |
14001
Marshall Drive, Lenexa, KS 66215
(Address
of principal executive offices) (Zip Code)
Registrant’s
telephone number, including area code: (913) 814-7774
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (see General Instruction A.2. below):
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c) |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item
5.02. |
Departure
of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Resignation
of Michael J. Caulfield
On
January 31, 2024, Michael J. Caulfield notified the Board of Directors (the “Board”) of Digital Ally, Inc. (the “Company”)
that he resigns as a director of the Board, effective immediately.
Officer
Compensation
Effective January 31, 2024, the Compensation Committee of the Board of Directors (the “Committee”) of the Company set the
annual base salaries of Stanton E. Ross, Chief Executive Officer, Peng Han, Chief Operating Officer and, and Thomas J. Heckman, Chief
Financial Officer, Treasurer and Secretary, at $250,000, $250,000 and $120,000, respectively for 2024.
The
Committee determined that Stanton E. Ross will be eligible for bonuses of up to a total of $250,000 in 2024, and Peng Han will be eligible
for bonuses of up to a total of $125,000 in 2024, based on each person’s performance during the year. The Committee will review
each executive officer’s performance on a periodic basis during 2024 and determine what, if any, portion of the bonus he has earned
and will be paid as of such point.
The
Committee awarded Stanton E. Ross 20,000 shares of restricted common stock that will vest in full on January 31, 2025, or in full at
the completion of the previously disclosed transaction (the “Transaction”) entered into by the Company’s wholly-owned
subsidiary, Kustom Entertainment, Inc. (“Kustom Entertainment”), pursuant to an Agreement and Plan of Merger (the “Merger
Agreement”), by and among Clover Leaf Capital Corp., a Delaware corporation (together with its successors, “Clover Leaf”),
CL Merger Sub, Inc., a Nevada corporation and a wholly-owned subsidiary of the Purchaser, Yntegra Capital Investments LLC, a Delaware
limited liability company (the “Purchaser Representative”), Kustom Entertainment, and the Company, whichever occurs first,
provided that he remains an officer on such dates. Peng Han was awarded 15,000 shares of restricted common stock that will vest in full
on January 31, 2025, or in full at the completion of the Transaction, whichever occurs first, provided that he remains an officer on
such dates.
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.
Date:
February 5, 2024
|
Digital
Ally, Inc. |
|
|
|
|
By:
|
/s/
Stanton E. Ross |
|
Name: |
Stanton
E. Ross |
|
Title: |
Chairman
and Chief Executive Officer |
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