Akoustis Technologies, Inc. (OTCMKTS:AKTS) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02
|
Departure of Director or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On January 12, 2017, the Board of Directors (the Board) of
Akoustis Technologies, Inc. (the Company) increased the size of
the Board to six directors and elected John T. Kurtzweil as a
director to the Board to fill the new directorship. The Board has
determined that Mr. Kurtzweil is independent under Rule
5605(a)(2) of the NASDAQ Listing Rules and an audit committee
financial expert as defined by Item 407(d)(5) of Regulation S-K.
Mr.Kurtzweil, age 60, is VP Finance of Cree,Inc., a company that
develops, manufactures, and sells lighting-class light emitting
diode, lighting, and semiconductor products for power and
radio-frequency applications, and Chief Financial Officer of
Wolfspeed, a Cree Company, positions he has held since June 2015.
He was an independent consultant from October 2014 to June 2015.
From June 2012 until September 2014, Mr.Kurtzweil served as
Senior Vice President, Chief Financial Officer and Special
Advisor to the CEO of Extreme Networks,Inc., a provider of
high-performance, open networking innovations for enterprises,
services providers, and Internet exchanges, and he served as its
Chief Accounting Officer from November 2012 until June 2014. From
September 2006 to June 2012, Mr.Kurtzweil served as Executive
Vice President, Finance and as Chief Financial Officer and
Treasurer of Cree,Inc. From May 2004 to September 2006,
Mr.Kurtzweil was Senior Vice President and Chief Financial
Officer at Cirrus Logic,Inc., a fabless semiconductor company.
Mr.Kurtzweil served as a board member for Meru Networks,Inc. from
May 2015 to July 2015 and currently serves as a board member for
Axcelis Technology Inc., a position he has held since May 2015.
Mr.Kurtzweil brings to the Board significant senior executive
leadership experience, including 19 years as chief financial
officer of publicly traded technology companies and placement of
an aggregate of $1.9billion in equity and debt instruments. His
technology industry experience includes several merger and
acquisition transactions and, when combined with his treasury
experience, gives him a valuable perspective as a director. His
qualifications to serve as a director also include that he is a
certified public accountant and certified management accountant,
his financial market experience, training through the Stanford
Directors College, active membership with National Association of
Corporate Directors and his qualifications as an audit committee
financial expert.
There are no family relationships between John Kurtzweil and any
other executive officer or director of the Company. The Company
is not aware of any relationships or transactions in which Mr.
Kurtzweil has or will have an interest, or is or was a party,
requiring disclosure under Item 404(a) of Regulation S-K.
In connection with his election and service as a director to the
Company, Mr. Kurtzweil will receive a restricted stock award for
22,000 shares of the Companys common stock, par value $0.01 per
share, under the Companys 2016 Stock Incentive Plan, with vesting
of 50% on the two year anniversary, and 25% vesting on the three
and four year anniversaries.
Item 7.01 Financial Statements and Exhibits.
On January 19, 2017, the Company issued a press release
announcing the election of John T. Kurtzweil as a director to the
Board. A copy of the press release is attached to this report as
Exhibit 99.1 and incorporated herein by reference.
The information contained in this Item 7.01 of this report is
being furnished and shall not be deemed filed for purposes of
Section 18 of the Securities Exchange Act of 1934, as amended
(the Exchange Act), or otherwise subject to the liabilities of
that section. The information in this Item 7.01 shall not be
deemed incorporated by reference in any filing under the
Securities Act of 1933, as amended, or the Exchange Act, except
as expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits:
| Exhibit No. | Description |
| 99.1 | Press release dated January 19, 2017 |
About Akoustis Technologies, Inc. (OTCMKTS:AKTS)
Akoustis Technologies, Inc., formerly Danlax, Corp., is a fabless company engaged in developing, designing and manufacturing radio frequency (RF) filter products for the mobile wireless device industry. The Company operates in the telecommunications and fiber optics sector. The Company is focused on commercializing and manufacturing its Bulk ONE acoustic wave technology to address the critical frequency-selectivity requirements in mobile smartphones. The Company plans to use single crystal piezoelectric materials to develop a class of RF filters with a fundamental advantage to reduce losses over existing thin film technologies. The Company’s piezoelectric materials contain high-purity Group III element nitride materials and possess a signature, which can be detected by conventional material metrology tools. The Company is focused on the commercialization of bandwidth RF filters operating in the high frequency portion of the RF Front end (RFFE) (called high band). Akoustis Technologies, Inc. (OTCMKTS:AKTS) Recent Trading Information
Akoustis Technologies, Inc. (OTCMKTS:AKTS) closed its last trading session up +0.20 at 6.00 with shares trading hands.
