MARATHON PATENT GROUP, INC. (NASDAQ:MARA) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersITEM 5.02
On August 17, 2018, the Board appointed Mr. Thiel as the Chairman of the Compensation Committee of the Company and remains as a member of the Audit Committee and the Nominating and Corporate Governance Committee. The Board believes that Mr. Thiel continues to meet the definition of an “Independent Director” as defined by NASDAQ.
| ITEM 3.01 | Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. |
As previously reported on the Current Report on Form 8-K filed by the Company with the Commission on July 13, 2018, the Company received a written notification from the NASDAQ Stock Market LLC (“Nasdaq”) indicating that based upon the Company’s Form 8-K filed on June 29, 2018, as a result of the resignations of Edward Kovalik and Christopher Robichaud from the Company’s board of directors (the “Board”) effective June 28, 2018, the Company no longer complies with Nasdaq’s Listing Rules 5605(b)(1) and 5605(c)(2) (the “Rules”) for continued listing. On August 17, 2018, the Board appointed two directors, each of whom meets the definition of an “Independent Director” as defined by Nasdaq. On August 20, 2018, the Company received a written notification from Nasdaq indicating that the Staff has determined that the Company has regained compliance with the Rules and that the matter is now closed.
| ITEM 7.01 | Regulation FD Disclosure. |
On August 21, 2018, the Company issued a press release announcing the appointment of Michael Berg and S. Michael Rudolph as independent directors to the Board and that the Company has regained compliance for continued listing on Nasdaq.
The information contained in this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. The furnishing of the information in this Current Report on Form 8-K is not intended to, and does not, constitute a representation that such furnishing is required by Regulation FD or that the information contained in this Current Report on Form 8-K constitutes material investor information that is not otherwise publicly available.
| ITEM 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
The exhibits listed in the following Exhibit Index are filed as part of this Current Report on Form 8-K.
Marathon Patent Group, Inc. ExhibitEX-99.1 2 ex99-1.htm Marathon Patent Group Regains NASDAQ Compliance Appoints Independent Board Members Michael Berg and S. Michael Rudolph LOS ANGELES,…To view the full exhibit click here
About MARATHON PATENT GROUP, INC. (NASDAQ:MARA)
Marathon Patent Group Inc. (MARA) is engaged in acquiring patents and patent rights from owners or other ventures. The Company monetizes its portfolio of patents and patent rights by entering into license discussions. The Company owns around 378 United States and foreign patents, and patent rights across a range of technologies and markets. The Company owns around 22 patent applications across a range of technologies and markets.
