Image Sensing Systems, Inc. (NASDAQ:ISNS) 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.
| (b) | On March 18, 2019, Todd C. Slawsonresigned as the Interim Chief Financial Officer of Image Sensing Systems,Inc. (the “Company”). His last day with the Company will be March 26, 2019. |
| (c) | Effective on March 19, 2019, the Company’s Board of Directors appointed Theodore T. Johnson as the Company’s Interim Chief Financial Officer. Mr. Johnson, age 51, most recently served as the International Finance Director of Textron Specialized Vehicles from March 2017 until February 2019. From March 2011 to March 2017, he was the International Finance Director of Arctic CatInc. Before his time at Arctic CatInc., he held various Chief Financial Officer and finance positions with AGA Medical Corporation, Element 5 AG, and Black & Decker. Mr. Johnson holds an active CPA in the state of Minnesota. |
| Mr. Johnson and the Company currently are not parties to an employment agreement. | |
| (e) | Mr. Johnson will receive an annualized salary of $183,600. He and the Company are not parties to a bonus or equity award plan. |
Section 9 – Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits.
| (d) | Exhibits.The following document is hereby filed as an exhibit to this Current Report on Form 8-K: |
| Exhibit No. | |
| 99.1 Press Release dated March 21, 2019. | |
IMAGE SENSING SYSTEMS INC Exhibit
EX-99.1 2 ex991_1.htm PRESS RELEASE DATED MARCH 21,…
To view the full exhibit click here
About Image Sensing Systems, Inc. (NASDAQ:ISNS)
Image Sensing Systems, Inc. is a provider of software-based products and solutions for the intelligent transportation systems (ITS) industry. The Company develops and markets video and radar processing products for use in traffic, security, police and parking applications, such as intersection control, highway, bridge and tunnel traffic management, venue security, entry control and traffic data collection. The Company operates through two segments: Intersection and Highway. Video products are sold in the Intersection segment. Radar products are sold in the Highway segment. The Company’s family of products, which it markets as Autoscope video or video products (Autoscope) and RTMS radar or radar products (RTMS), provides end users with the tools that manage traffic flow and support driver safety. Its technology analyzes signals from sensors and transmits the information to management systems and controllers or directly to users.