Nxt-ID, Inc. (NASDAQ:NXTD) 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 Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b) On September 13, 2019, Gino M. Pereira notified Nxt-ID, Inc. (the “Company”) that he was resigning from his positions as the President and Chief Executive Officer of the Company, and as chairman and a member of the board of directors of the Company (the “Board”), effective immediately.
(c)(d) In connection with this transition, on September 17, 2019, the Board appointed Vincent S. Miceli, the Company’s Vice President and Chief Financial Officer, to the roles of President and Chief Executive Officer, as well as a member of the Board, effective September 17, 2019. Mr. Miceli will perform the services and duties that are normally and customarily associated with the President and Chief Executive Officer positions, as well as other duties as the Board reasonably determines.
Biographical information for Mr. Miceli has previously been disclosed in the Company’s Annual Report on Form 10-K, filed with the U.S. Securities and Exchange Commission on April 1, 2019.
There are no arrangements or understandings between Mr. Miceli and any other persons to which he was appointed as President and Chief Executive Officer of the Company and as a member of the Board. There are also no family relationships between Mr. Miceli and any director or executive officer of the Company and he has no direct or indirect material interest in any transaction required to be disclosed to Item 404(a) of Regulation S-K.
Item 9.01 Financial Statements and Exhibits
| 99.1 | Press Release of Nxt-ID, Inc., dated September 18, 2019. |
Nxt-ID, Inc. Exhibit
EX-99.1 2 f8k091819ex99-1_nxtid.htm PRESS RELEASE OF NXT-ID,…
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About Nxt-ID, Inc. (NASDAQ:NXTD)
Nxt-ID, Inc. is a technology company. The Company is focused on products, solutions and services for security on mobile devices. The Company’s core technologies consist of those that support digital payments, biometric identification, encryption, sensors and miniaturization. It has three lines of business: mobile commerce (m-commerce), primarily through the application of secure digital payment technologies; biometric access control applications, and Department of Defense contracting. It intends to use its core biometric facial and voice recognition algorithms to develop security applications (both cloud based and locally hosted) that can be used for companies, as well as individuals, law enforcement, the defense industry, and the United States Department of Defense. Its offerings include Wocket, a physical electronic smart wallet; the NXT Smartcard, a standalone smartcard; Wi-Mag, an antenna and payment technology, and 3D FaceMatch and 3D SketchArtist facial recognition products.
