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.Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(d) On January 14, 2019, the Board of Directors of the Image Sensing Systems, Inc. (the “Company”) appointed Joseph P. Daly to the Company’s Board of Directors. Mr. Daly, age 57, is the Chief Executive Officer of EssigResearch, Inc., a global engineering services company, specializing in the design and repair of large, infrastructurerelated equipment, which he founded in October 1993. Since January 2012, Mr. Daly has been a business and finance instructor at Northeastern University in Boston, Massachusetts. In October 2016, Mr. Daly acquired the product lifecyclemanagement (“PLM”)software assets of SofTechInc. and formed EssigPLM, which offers PLM related solutions to a broad, global client base. Mr. Daly was also a director from December 2013 through July 2016, and largest shareholder of Kreisler Manufacturing Inc., which was acquired by Arlington Capital Partners in July 2016. Mr. Daly received his BSME from Rensselaer Polytechnic Institute and his MBA/MSF from Northwestern University.
Mr. Daly will be compensated as a non-employee director in accordance with the Company’s existing non-employee director compensation program.Under the program, for 2019, he will receive a pro-rata portion of the $50,000 annual retainer paid to all non-employee directors, of which half will be paid in cash and half as a stock award.
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 January 17, 2019.
IMAGE SENSING SYSTEMS INC Exhibit
EX-99.1 2 ex991_1.htm PRESS RELEASE DATED JANUARY 17,…
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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.
