Astrotech Corporation (NASDAQ:ASTC) 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 Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On October 2, 2018, the Board of Directors (the “Board”) of Astrotech Corporation (the “Company”) appointed Tom Wilkinson to serve as a director and to fill a vacant position on the Board.

Tom Wilkinson has served as the Chief Financial Officer of Xplore Technologies (“Xplore”) since August 2015. Mr. Wilkinson was named Chief Executive Officer of Xplore on October 31, 2017. Xplore was sold in August 2018. Prior to joining Xplore as Chief Financial Officer, Mr. Wilkinson was Chief Financial Officer for Amherst Holdings, a financial services company, beginning in January 2014. Prior to joining Amherst Holdings, Mr. Wilkinson was Managing Partner of PMB Helin Donovan through November 2013, after having been a founding partner of the firm in 2002.

In consideration for his service on the Board, Mr. Wilkinson will be compensated in accordance with the compensation plan for non-employee directors previously adopted by the Board, as disclosed in our proxy statement relating to our 2017 annual meeting of stockholders.

There are no arrangements or understandings between Mr. Wilkinson and any other person to his appointment as a director. In addition, Mr. Wilkinson has no direct or indirect material interest in any transaction or proposed transaction required to be reported under Section 404(a) of Regulation S-K. The Board appointed Mr. Wilkinson to serve as chair of the Compensation Committee and as a member of the Audit Committee.

About Astrotech Corporation (NASDAQ:ASTC)

Astrotech Corporation is a science and technology development and commercialization company. The Company invents, acquires and commercializes technological innovations sourced from internal research, universities, laboratories and research institutions. The Company operates through two business units: Astro Scientific and Astral Images Corporation (Astral). The Astro Scientific is a technology incubator that commercializes technologies, and includes the operations of subsidiaries, such as 1st Detect Corporation (1st Detect) and Astrogenetix, Inc. (Astrogenetix). Astral segment provides film digitization, image correction and enhancement technology. It offers systems containing off-the-shelf hardware with integrated Astral software, software products and scanning or enhancement services. The Astral segment offers products, including Astral Black ICE, Astral Color ICE and Astral HDR ICE. The Company’s product portfolio also consists of MMS-1000 and OEM-1000.