RESONANT INC. (NASDAQ:RESN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Effective July 3, 2017, our board of directors increased the size of the board from seven to eight directors, and appointed Jean F. Rankin (age 58) as a director to fill the vacancy created upon the expansion in the size of the board. It is expected that Ms. Rankin will be appointed to the board’s compensation committee.
Ms. Rankin served as Executive Vice President, Secretary and General Counsel for LSI Corporation, a designer of semiconductors and software that accelerated storage and networking in data centers, mobile networks and client computing, from 2007 to May 2014, when LSI was acquired by Broadcom Limited (NASDAQ: AVGO) (formerly Avago Technologies). Ms. Rankin was a key participant in the strategic process and negotiations resulting in the company’s successful sale to Broadcom. Prior to that, Ms. Rankin served as General Counsel for Agere Systems Inc., before it merged with LSI in April 2007. Prior to Agere, Ms. Rankin held several positions of increasing responsibility at Lucent Technologies, Inc. over a five year span, as well as at AT&T for six years. She holds a law degree from University of Pennsylvania Law School and a B.A. from the University of Virginia.
In accordance with our non-employee director compensation policy, for Ms. Rankin’s service on the board, she will be entitled to receive the following compensation:
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Annual Retainer – an annual retainer of $50,000 in cash, payable quarterly; |
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Initial Equity Award – 24,000 restricted stock units, which award will vest as to one-half of the shares on each of the first and second anniversaries of the commencement of her service as a non-employee director, subject to continued service as a director through the applicable vesting date; and |
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Annual Equity Award — on the date of each annual meeting of our stockholders, Ms. Rankin will be granted restricted stock units with a grant date fair value equal to $50,000, which award will vest as to one-half of the shares on each of the first annual meeting of stockholders and second annual meeting of stockholders following the grant, subject to continued service as a director through the applicable vesting date. |
Prior to her appointment as a member of our board of directors, Ms. Rankin did not have any material relationship with us and no such relationship is currently proposed. Ms. Rankin does not have any family relationships with any of our other directors or executive officers. There are no understandings or arrangements between Ms. Rankin and any other person to which Ms. Rankin was selected as a director.
A press release announcing Ms. Rankin’s appointment to the board was issued by us on July 5, 2017, a copy of which is attached hereto as Exhibit 99.1.
Item 9.01Financial Statements and Exhibits.
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99.1 |
Press release dated July 5, 2017. |
Resonant Inc ExhibitEX-99.1 2 exhibit991jeanrankinpressr.htm EXHIBIT 99.1 Exhibit Resonant Appoints Jean Rankin as New Board MemberSeasoned General Counsel with Global Legal and Intellectual Property Expertise Joins Resonant BoardGOLETA,…To view the full exhibit click here
About RESONANT INC. (NASDAQ:RESN)
Resonant Inc. is a late-stage development company. The Company creates filter designs for radio frequency (RF) front-ends for the mobile device industry. The RF front-end is the circuitry in a mobile device for analog signal processing and is located between the device’s antenna and its digital baseband. The Company uses a technology called Infinite Synthesized Networks (ISN) to configure and connect resonators, the building blocks of RF filters. The Company uses ISN to develop new classes of filter designs. The Company is also developing a series of single-band surface acoustic wave (SAW) filter designs for frequency bands. The Company is developing multiplexer filter designs for over two bands to address the carrier aggregation (CA) requirements of its customers. In addition, the Company is also developing reconfigurable filter designs to replace multiple filters for multiple bands. The Company is also involved in the development of a filter reconfigurable between three bands.
