SharpSpring, Inc. (NASDAQ:SHSP) 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
Richard Carlson
On March 30, 2017, the registrant entered into an employee
agreement amendment with Richard Carlson, the registrants Chief
Executive Officer and President. The employee agreement amendment
amends Mr. Carlsons previous employee agreement to (i) increase
his base salary to $250,000 per year effective as of March 16,
2017, (iii) decrease his annual bonus opportunity to $50,000, and
(ii) reflect the recent stock option granted to Mr. Carlson to
purchase up 100,000 shares of the registrants common stock. The
options vest over a 4 year period, with 1/48 vesting each month.
The description of Mr. Carlsons employee agreement amendment is
not complete, and is qualified in its entirety by reference to
the employee agreement amendment attached hereto as Exhibit
10.1, which is incorporated by reference herein.
Adoption of 2017 Executive Bonus Plan
On March 30, 2017, the registrant adopted the following 2017
Executive Bonus Plan for its executive officers:
Bonus plan for executive officers:
| a. | Bonus is based on Revenue and EBITDA at target per budget: |
i. Below 85% of plan the bonus will not be paid
ii. Between 85% and 100% the bonus will be 50% of target
iii. At plan bonus is 100%
iv. Above plan bonus is paid at the rate of plan (so if Revenue
is at 105% of plan then bonus is 105% of target)
v. Bonus is capped at 125% of target
vi. Bonus will be paid annually, following the finalization of
the Companys results.
Item 9.01 Financial Statements and
Exhibits
| (d) | Exhibits: |
| Exhibit No. | Description | |
| 10.1 | Employee Agreement Amendment Richard Carlson |
About SharpSpring, Inc. (NASDAQ:SHSP)
SharpSpring, Inc., formerly SMTP, Inc., is a cloud-based marketing technology company. The Company’s SharpSpring marketing automation platform uses features, such as Web tracking, lead scoring and automated workflow to enable businesses deliver messages to the customers. The SharpSpring marketing automation solution offers digital marketing tools to small and medium-sized businesses and is primarily sold to marketing agencies using the platform on behalf of their clients. The Company offers a SMTP relay product, which is designed to send high volumes of e-mail messages. The Company offers the GraphicMail e-mail campaign management solution to customers globally. The GraphicMail platform is focused on e-mail, social and mobile marketing and is used by companies wishing to communicate with a list of subscribers or customers. The Company’s platform is used by agencies, agency clients and direct end users. SharpSpring, Inc. (NASDAQ:SHSP) Recent Trading Information
SharpSpring, Inc. (NASDAQ:SHSP) closed its last trading session up +0.06 at 4.40 with 41,261 shares trading hands.