On November 27, 2017, Westell Technologies, Inc. (the “Company”) announced the appointment of Kirk R. Brannock as the Company’s Interim President and Chief Executive Officer, effective November 30, 2017. Mr. Brannock, currently Chairman of the Board, will succeed Matthew B. Brady, who resigned his officer and director positions via written notice on November 20, 2017 and whose departure is not the result of any disagreement with the Company or the Board of Directors on any matter relating to the Company’s operations, policies or practices. Mr. Brannock will return to the Company to serve as Interim President and Chief Executive Officer. A copy of Mr. Brady’s resignation letter is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference in its entirety.

Kirk R. Brannock, currently Chairman of the Board, served at Westell as Interim President and Chief Executive Officer from October 2016 through July 2017 and was elected to the Westell Board at the annual meeting on September 12, 2017. Previously Mr. Brannock served as a member of Westell’s Board of Directors from February 2011 to September 2014. He retired in 2010 from his position as Senior Vice President – Ethernet Deployment at AT&T, a leading provider of voice, video, data and broadband delivery services, after a career spanning more than 30 years. Previously Mr. Brannock served in leadership positions at AT&T, Ameritech and SBC, including Senior Vice President – AT&T National Installation & Maintenance and President – SBC/Ameritech Midwest Network Services. Mr. Brannock holds a Bachelor of Arts in Business Administration from Michigan State University and is currently a Board Member and Treasurer for a Marriott International Cooperative.

Under the terms of an Offer Letter with Mr. Brannock dated November 24, 2017 (the “Interim CEO Agreement”), Mr. Brannock will receive an annual base salary of $340,000 (or $28,333 monthly), and Mr. Brannock will be awarded 25,000 total Restricted Stock Units (“RSUs”) and can be considered for a discretionary bonus.

The foregoing description of the Offer Letter does not purport to be complete and is qualified in its entirety by reference to the complete text of the Offer Letter, a copy of which is attached as Exhibit 10.2 to this Current Report on Form 8-K and is incorporated herein by reference in its entirety. Additionally, a copy of the press release announcing Mr. Brannock’s appointment and related matters is attached hereto as Exhibit 99.1 and incorporated herein by reference in its entirety.

Mr. Brady will receive his base salary through December 1, 2017, his final employment date.

(d) Exhibits

WESTELL TECHNOLOGIES INC Exhibit
EX-10.1 2 exhibit101112017.htm EXHIBIT 10.1 Exhibit Exhibit 10.1Matthew B. Brady1240 Camelot LaneLemont,…
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About WESTELL TECHNOLOGIES, INC. (NASDAQ:WSTL)

Westell Technologies, Inc. is a provider of in-building wireless, intelligent site management, cell site optimization and outside plant solutions. The Company’s set of products and solutions are designed to manage network performance for carriers, integrators and other network operators. The Company operates in two segments: In-Building Wireless (IBW) and Communication Solutions Group (CSG). The Company’s segments are engaged in the design, development, assembly, and marketing of a range of products and solutions. The IBW segment solutions include distributed antenna systems (DAS) conditioners, digital repeaters and bi-directional amplifiers (BDAs), and system components and antennas, all used by wireless service providers and third-party hosts to fine tune radio frequency (RF) signals. The Company’s intelligent site management solutions include a suite of remote monitoring and control devices.