BIO-KEY INTERNATIONAL, INC. (OTCMKTS:BKYID) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

BIO-KEY INTERNATIONAL, INC. (OTCMKTS:BKYID) 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 April 10, 2017, Robert J. Michel was appointed to serve on the Board of Directors of BIO-key International, Inc. (the “Company”, “we”, or “us”).

 

Robert J. Michel, 60,has over thirty years of accounting and financial management experience and currently serves as a consultant with Feuer & Orlando, LLP,New York, NY based CPA firm. From 2009 until March, 2016, Mr. Michel was the Chief Financial Officer of Asta Funding, Inc. (Nasdaq: ASFI), a diversified financial services company operating in five reportable segments in the United States, with the Consumer Receivables segment also operating in South America.  Mr. Michel was responsible for all financial matters and SEC reporting. From 2004 until 2009, Mr. Michel served as the Controller and the Director of Financial Reporting and Compliance for Asta Funding. Mr. Michel is a certified public accountant, earned a MBA in Taxation from St. John’s University, and a BS, Business Administration, from Villanova University. Mr. Michel’s substantial experience in accounting and financial management for public companies provides the Board with a deep knowledge of financial and SEC reporting and strengthens the Board’s collective qualifications, skills, and experience as our business continues to grow and expand internationally.

 

Mr. Michel has been appointed to serve on the Audit Committee as its Chairman.

 

In connection with his appointment to our board of directors, on April 10, 2017, we made a grant of options to Mr. Michel 10,000 shares of common stock at an exercise price of $2.64 per share. The options have a term of 7 years and vest in equal annual installments over the three-year period commencing from the date of grant.

 

 


About BIO-KEY INTERNATIONAL, INC. (OTCMKTS:BKYID)

BIO-key International, Inc. develops and markets fingerprint biometric identification and identity verification technologies, cryptographic authentication-transaction security technologies, as well as related identity management and credentialing software solutions. The Company is also engaged in developing automated, finger identification technology that supplements or compliments other methods of identification and verification, such as personal inspection identification, passwords, tokens, smart cards, identity cards, public key infrastructure (PKI), credit card, passports, driver’s licenses, one-time password (OTP) or other form of possession or knowledge-based credentialing. Its solutions identify individuals and verify, or confirm, their identity before granting access to, among other things, corporate resources, subscribed data and services, Web portals, applications, physical locations or assets.

BIO-KEY INTERNATIONAL, INC. (OTCMKTS:BKYID) Recent Trading Information

BIO-KEY INTERNATIONAL, INC. (OTCMKTS:BKYID) closed its last trading session 00.00 at 2.40 with 7,408 shares trading hands.

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