DEEP DOWN, INC. (OTCMKTS:DPDW) 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.

(d) Election of Directors

On April 16, 2019, Deep Down, Inc. (the “Company”) announced Mr. David J. Douglas and Mr. Neal I. Goldman have joined the Board of Directors (the “Board”) as independent directors. Mr. Douglas and Mr. Goldman were elected by the current directors on April 12, 2019 to fill two vacancies on the Board, effective as of April 16, 2019.

Mr. Douglas is the Principal of Jamaka Capital Management, LLC., the Company’s largest institutional investor. Mr. Douglas has over 30 years of investment experience as a principal including 25 years in the family office industry. Mr. Douglas is a graduate of the University of Pennsylvania’s Wharton School earning a BS in Economics, Magna Cum Laude.

Mr. Goldman is the President and Founder of Goldman Capital Management, Inc., a family office since 2018, which was previously an investment advisory firm founded in 1985. Mr. Goldman is a Chartered Financial Analyst (CFA). Mr. Goldman received his B.A. degree in Economics from The City University of New York (City College).

There are no family relationships between Mr. Douglas or Mr. Goldman and any director or executive officer of the Company, and there are no arrangements or understandings between them and any other person to which they were selected as directors. No determination has been made regarding the committees of the Board on which Mr. Douglas or Mr. Goldman will serve.

SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS

ITEM 9.01 Financial Statements and Exhibits.

(d) Exhibits:

99.1 Press Release issued by Deep Down, Inc. dated April 16, 2019

Deep Down, Inc. Exhibit
EX-99.1 2 deep_8k-ex9901.htm PRESS RELEASE Exhibit 99.1     Deepwater Offshore Oil and Gas Specialist Deep Down Appoints Fund Managers David Douglas and Neil Goldman,…
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About DEEP DOWN, INC. (OTCMKTS:DPDW)

Deep Down, Inc. is engaged in the oilfield services industry. The Company operates through Deep Down Delaware segment. The Company is a provider of specialized services to the offshore energy industry to support deep water and ultra-deep water exploration, development and production of oil and gas, and other maritime operations. It also produces custom engineered products that assist it in fulfilling service objectives for specific projects on a contractual basis. The Company designs and manufactures deep water and ultra-deep water, surface and offshore equipment solutions, which are used by independent and foreign national oil and gas companies in offshore areas across the world. The Company provides engineering and management services, including the design, installation and retrieval of subsea equipment and systems, connection and termination operations, well-commissioning services, as well as construction support and remotely operated vehicle (ROV) operations support.