INTERLINK ELECTRONICS (NASDAQ:LINK) Files An 8-K Results of Operations and Financial Condition
On November 12, 2020, Interlink Electronics, Inc. announced its financial results for the third quarter ended September 30, 2020. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information in this Item 2.02 of Current Report on Form 8-K and Exhibit 99.1 attached hereto is intended to be furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such filing.
Effective November 13, 2020, Ryan J. Hoffman, 42, was appointed Chief Financial Officer and Secretary of Interlink Electronics, Inc. Effective upon Mr. Hoffman’s appointment, Steven N. Bronson was removed as our Chief Financial Officer and Secretary. Mr. Bronson remains our Chief Executive Officer and President, and Chairman of our Board of Directors.
In addition to serving as our Chief Financial Officer and Secretary, Mr. Hoffman serves as Chief Financial Officer of Qualstar Corporation. BKF Capital Group, Inc., a holding company controlled by Mr. Bronson, is a significant stockholder of both Interlink and Qualstar Corporation. Mr. Bronson also serves as Chief Executive Officer and President and on the board of directors of Qualstar Corporation. Mr. Hoffman will divide his time between Interlink and Qualstar Corporation.
Mr. Hoffman has over 20 years of business and financial reporting experience working primarily with technology and consumer products companies on audits, technical accounting, and reporting. Most recently, Mr. Hoffman served as Audit Partner at RSM US LLP, a public accounting firm, from 2004 until 2020. Mr. Hoffman began his professional career at Ernst & Young LLP, where he served in various positions from 2000 through 2004. Mr. Hoffman received his bachelor’s degree in accounting from Chapman University and is a Certified Public Accountant.
In connection with his appointment, we entered into an employment offer letter with Mr. Hoffman, to which we will pay Mr. Hoffman an annual base salary of $180,000. Mr. Hoffman is eligible to receive an annual bonus of up to 25% of his annual base salary, based on achievement of performance targets and otherwise as determined in the discretion of the CEO and board of directors. Mr. Hoffman’s offer letter provides for “at will” employment and may be terminated at any time by either party. Mr. Hoffman is not entitled to any termination payments or benefits under his offer letter. He will be based out of the Company’s facilities in Irvine, California.
The foregoing description of Mr. Hoffman’s offer 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 Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Except as described herein, there are no understandings or arrangements between Mr. Hoffman and any other person to which Mr. Hoffman was selected as Chief Financial Officer. Mr. Hoffman 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.
The following exhibits are filed as part of this Current Report on Form 8-K:
|10.1||Employment Offer Letter, dated November 4, 2020, between the Registrant and Ryan Hoffman.|
|99.1||Press Release issued by Interlink Electronics, Inc. dated November 12, 2020.|
INTERLINK ELECTRONICS INC Exhibit
EX-10.1 2 tm2036035d1_ex10-1.htm EXHIBIT 10.1 Exhibit 10.1 4th November,…
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About INTERLINK ELECTRONICS (NASDAQ:LINK)
Interlink Electronics, Inc. (Interlink) designs, develops, manufactures and sells a range of force-sensing technologies that incorporate its materials technology, firmware and software into a portfolio of standard products and custom solutions. The Company operates in the manufacture and sale of force sensing technology segment. The Company’s solutions include sensor components, subassemblies, modules and products that support cursor control and three-dimensional user inputs. Its human machine interface (HMI), technology platforms are deployed in a range of markets, including consumer electronics, automotive, industrial and medical. Interlink offers a portfolio of standard solutions, from simple force sensors to multi-finger capable rugged trackpads. Its portfolio of standard solutions includes its Force Sensing Resistor (FSR) technology, Force sensing linear potentiometers (FSLP), and integrated mouse modules and pointing solutions.