PASSUR AEROSPACE, INC. (OTCMKTS:PSSR) 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.
At the 2019 annual meeting of shareholders (the Annual Meeting) of PASSUR Aerospace, Inc. (the Company) held on April 9, 2019, the shareholders were asked to approve the PASSUR Aerospace, Inc., 2019 Stock Incentive Plan (the Plan), which was adopted, subject to shareholder approval, by the Companys Board of Directors (the Board) on February 26, 2019, and ratified by the Compensation Committee on February 28, 2019. As described in Item 5.07 below, the Companys shareholders approved the Plan on April 9, 2019.
The material features of the Plan are described in the section entitled Approval of the Companys 2019 Stock Incentive Plan appearing on pages 16-18 of the Companys Definitive Proxy Statement on Schedule 14A filed on February 28, 2019 in connection with the Annual Meeting, which description is incorporated by reference herein. Such description is only a summary and does not purport to be complete and is qualified in its entirety by reference to the Plan filed as Exhibit 10.1 hereto, which is incorporated by reference herein.
In connection with the approval of the Plan, the Board approved a form award agreement for use in granting awards under the Plan. The form is filed as Exhibit 10.2 to this Current Report on Form 8-K and incorporated by reference herein.
Item 5.07. Submission of Matters to a Vote of Security Holders
At the Annual Meeting of the Company held on April 9, 2019, the shareholders elected each of the Companys nominees for director to serve until the next Annual Meeting of Shareholders and until their successors are elected and qualified. Shareholders also approved a non-binding vote for the approval of the compensation of the Companys named executive officers, the Companys 2019 Stock Incentive Plan, and ratified the Audit Committees appointment of BDO USA, LLP to serve as the Companys independent registered public accounting firm for the Companys 2019 fiscal year. Set forth below are the final voting totals as provided by an independent inspector of elections for the Annual Meeting:
At the Annual Meeting, each of the foregoing nominees was elected as a director to hold office until the Companys 2020 annual meeting of shareholders or until his respective successor is duly elected and qualified.
Item 9.01. Financial Statement and Exhibits.
PASSUR Aerospace, Inc. Exhibit
EX-10.1 2 exh10_1.htm PASSUR AEROSPACE,…
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About PASSUR AEROSPACE, INC. (OTCMKTS:PSSR)
PASSUR Aerospace, Inc. is a business intelligence company. The Company is engaged in providing predictive analytics and decision support technology for the aviation industry. It uses big data, with an aviation intelligence platform and suite of Web-based solutions. It provides data aggregation and consolidation, information, decision support, predictive analytics, collaborative solutions, and professional services to airlines, airports, governments, and business aviation companies. It owns and operates the commercial passive radar network that updates flight tracks. The PASSUR decision support solutions use historical data mining and pattern recognition to predict specific and detailed operating conditions, as well as dynamic predictions based on the extrapolations of real-time surveillance data. Its traffic flow management solution is a Web dashboard product. It provides predictive analytics, alerts, and instant analysis and performance summaries to balance demand and capacity.
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