INTERLINK ELECTRONICS, INC. (NASDAQ:LINK) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Effective January10, 2018, David S. Burnett, 51, was reappointed Chief Financial Officer of Interlink Electronics,Inc. Mr.Burnett previously served as our Chief Financial Officer from August2016 until April2017. Effective upon Mr.Burnett’s appointment, Steven N. Bronson was removed as our Chief Financial Officer. Mr.Bronson remains our Chief Executive Officer.
In addition to serving as our Chief Financial Officer, Mr.Burnett serves as Chief Financial Officer of BKF Capital Group,Inc., an investment company controlled by Mr.Bronson, our Chief Executive Officer, and the beneficial owner of 11.9% of our common stock.Mr.Burnett will divide his time between Interlink and BKF Capital Group.
Mr.Burnett has over 27years of business experience in public accounting and corporate financial matters. From April2017 until December2017, Mr.Burnett was Chief Financial Officer of Palmetto Clean Technology,Inc., a privately-held company offering clean energy solutions. Mr.Burnett also provided financial consulting services to Interlink during this period. Prior to his first tenure with Interlink, from July2010 until August2016, Mr.Burnett served in various management positions with EnPro Industries,Inc., most recently as Vice President and Treasurer. EnPro Industries is a diversified manufacturer of proprietary engineered products used in critical applications.
Prior to joining EnPro, Mr.Burnett was a Director at PricewaterhouseCoopers LLP in Charlotte, North Carolina from November2004 to July2010, and from September2001 to November2004 in the Washington National Tax Services office in Washington, DC. Prior to PricewaterhouseCoopers LLP, he was a Senior Manager in Grant Thornton LLP’s Office of Federal Tax Services in Washington, D.C. Mr.Burnett received his Bachelor of Science in Business Administration (Accounting) from Old Dominion University, and a Masters of Science in Taxation from Golden Gate University. He is both a Certified Public Accountant and a Certified Treasury Professional.
In connection with his appointment, we entered into an employment offer letter with Mr.Burnett, to which we will pay Mr.Burnett an annual base salary of $90,000 for his part-time services. Mr.Burnett also received a restricted stock unit award of 5,000 shares of common stock, of which 50% vests on each of the fourth and fifth anniversaries of the commencement of his employment with us. Mr.Burnett’s offer letter provides for “at will” employment and may be terminated at any time by either party. Mr.Burnett is not entitled to any termination payments or benefits under his offer letter. He will be based out of the Company’s facilities in Charleston, South Carolina.
The foregoing description of Mr.Burnett’soffer letter does not purport to be complete and is qualified in its entirety by reference to the full text of the offer letter. A copy of the offer letter is attached as Exhibit10.1 to this Current Report on Form8‑K and is incorporated herein by reference.
Except as described herein, there are no understandings or arrangements between Mr.Burnett and any other person to which Mr.Burnett was selected as Chief Financial Officer. Mr.Burnett does not have any family relationship with any director, executive officer or person nominated or chosen by our board of directors to become an executive officer.
Item 5.02Financial Statements and Exhibits.
(d)Exhibits
10.1Employment Offer Letter, dated December29, 2017, between the Registrant and David S. Burnett.