LIGHTPATH TECHNOLOGIES, INC. (NASDAQ:LPTH) 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 Principal Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
LIGHTPATH TECHNOLOGIES, INC. (NASDAQ:LPTH) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On February 10, 2021, Dr. Stephen R. J. Brueck notified LightPath Technologies, Inc. (the “Company”) of his intent to retire as a director, effective immediately. Dr. Brueck has served as one of the Company’s directors since July 2001. Dr. Brueck’s departure is not due to any disagreement with the Company. As disclosed in the Company’s Definitive Proxy Statement filed on Schedule 14A on October 1, 2020, Dr. Brueck had elected to defer receipt of certain vested restricted stock unit shares until after leaving the Board of Directors. These restricted stock unit shares were awarded as part of his annual director compensation beginning in 2004; the related compensation expense was recognized in the Company’s financial statements each period as the compensation was earned and the shares were included in the weighted average diluted number of shares used to calculate the Company’s earnings per share, as appropriate. As such, in connection with his retirement, Dr. Brueck was issued 419,176 shares of the Company’s Class A Common Stock.
LightPath’s Chairman of the Company’s Board of Directors, Robert Ripp, along with the other directors and the executive management team recognize Dr. Brueck’s dedication and many contributions to the Company and wish him well in his retirement.
About LIGHTPATH TECHNOLOGIES, INC. (NASDAQ:LPTH)
LightPath Technologies, Inc. is a manufacturer and integrator of families of precision molded aspheric optics, fiber-optic collimator, GRADIUM glass lenses and other optical materials used to produce products that manipulate light. The Company designs, develops, manufactures and distributes optical components and assemblies utilizing the optical processes and manufacturing technologies. The Company also performs research and development for optical solutions for the traditional optics markets and communications markets. The Company’s products are incorporated into a range of applications by its customers in various industries, including defense products, medical devices, laser aided industrial tools, automotive safety applications, barcode scanners, optical data storage, hybrid fiber coax datacom, telecommunications, machine vision and sensors.