AIRBORNE WIRELESS NETWORK (OTCMKTS:ABWN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 30, 2017, Airborne Wireless Network, a Nevada corporation (the “Company”), expanded the size of its board of directors from two members to six, and elected Samuel Gulko, Karen Laustsen, James H. Leach and James C. Witham (the “new directors”) to fill the newly created vacancies on the Company’s board of directors, effective on such date. Also on December 30, 2017, the Company’s board of directors created three new committees of the board of directors: an audit committee, a compensation committee and a nominating and corporate governance committee. In connection with the election of the new directors, Messrs. Gulko, Leach and Witham were appointed to serve on the audit committee, Ms. Laustsen and Messrs. Gulko and Leach were appointed to serve on the compensation committee and Messrs. Gulko, Leach and Witham were appointed to serve on the nominating and corporate governance committee.
There are no understandings or arrangements between any of the new directors and any other person which such new director was selected as a director. There are no transactions in which any of the new directors has an interest requiring disclosure under Item 404(a) of Regulation S-K.
Each new director will receive as compensation for his or her services:
| · | annual cash compensation of $20,000; |
| · | $1,000 per day for any site visits or in-person meetings, plus travel expenses; |
| · | an annual grant of an option to purchase 100,000 shares of the Company’s common stock, which such initial options having an exercise price equal to $1.98 and being fully vested and exercisable as of the grant date; and |
| · | an additional $5,000 annually for each new director serving as chairperson of a committee of the board of directors. |
Item 8.01 Other Events
On January 4, 2018, the Company issued a press release announcing the appointment of the new directors. A copy of the press release is attached as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
AIRBORNE WIRELESS NETWORK ExhibitEX-99.1 2 abwn_ex991.htm PRESS RELEASE abwn_ex991.htmEXHIBIT 99.1 Airborne Wireless Network Announces Appointment of Additional Directors and Independent Committee Members SIMI VALLEY,…To view the full exhibit click here
About AIRBORNE WIRELESS NETWORK (OTCMKTS:ABWN)
Airborne Wireless Network, formerly Ample-Tee, Inc., is a development-stage company. The Company is developing a meshed network. The Company is seeking opportunities for the acquisition of assets. For its wholesale carrier network, the Company intends to use commercial aircraft as mini-satellites. The Company’s wholesale carrier network would be the airborne broadband pipeline, providing connectivity for broadband carrier services using commercial aircraft. As of May 31, 2016, the Company had no operations and had not earned any revenues.