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 Officers
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 24, 2019, the Compensation Committee (the “Compensation Committee”) of the Board of Directors of Resonant Inc. unanimously approved increases in the annual base salary payable to Martin McDermut, our Chief Financial Officer, and Robert Hammond, our Chief Technology Officer and a “named executive officer” of Resonant, in the amounts set forth opposite their names below. Such increases will take effect as of February 1, 2019.
|
Executive |
Old Annual Base Salary |
New Annual Base Salary |
|
Martin McDermut |
$295,000 |
$297,041 |
|
Robert Hammond |
$263,961 |
$272,553 |
The Compensation Committee awarded restricted stock units (“RSUs”) under the Resonant Inc. Amended and Restated 2014 Omnibus Incentive Plan to George Holmes, our Chief Executive Officer, Martin McDermut, our Chief Financial Officer, and Robert Hammond, our Chief Technology Officer and a “named executive officer” of Resonant, in the amounts set forth opposite their names below. Such RSUs will vest in four equal annual installments on December 1, 2019, 2020, 2021 and 2022, provided the recipient remains employed with us until the vesting date.
|
Executive |
Number of RSUs |
|
George Holmes |
96,053 |
|
Martin McDermut |
7,674 |
|
Robert Hammond |
32,300 |
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.
