SITO MOBILE, LTD. (NASDAQ:SITO) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangement of Certain Officers.
Appointment of Chief Executive Officer, Chief Financial
Officer and Chief Operating Officer
On June 26, 2017, the Board of Directors of SITO Mobile, Ltd.
(the Company) appointed Thomas J. Pallack as the Chief Executive
Officer of the Company, Mark Del Priore as the Chief Financial
Officer and Secretary of the Company and William Seagrave as the
Chief Operating Officer of the Company.
Mr. Pallack, age 62, has been the Interim Chief Executive Officer
of the Company since June 5, 2017. From 2005 until joining the
Company, Mr. Pallack served as Chief Executive Officer and Head
of Sales of SBV Solutions Strategic Business Velocity, a software
sales company that he co-founded. Mr. Pallacks background
encompasses more than 30 years of sales, sales operations,
financial and business development experience with a number of
global technology software companies, including Oracle
Corporation, Ariba, Inc. (now named SAP Ariba), Consilium and NCA
Corp.
Mr. Del Priore, age 39, has been the Interim Chief Financial
Officer of the Company since June 5, 2017. From November 2014
until joining the Company, Mr. Del Priore served as Chief
Financial Officer of Go Green Global Technologies Corp, a water
and fuel technology licensing, marketing, manufacturing and
development company, where he has also served as a director since
May 2013. From 1999 to 2013, Mr. Del Priore served as a Principal
at W.R. Huff Asset Management Co., L.L.C., an employee-owned
investment manager, where he evaluated and oversaw a number of
W.R. Huffs public and private investments, including a
substantial portfolio of technology, telecommunications and media
companies.
Mr. Seagrave, age 62, has been the Managing Partner of LHF
Healthcare, a privately-held medical analytics technology
company, since January of 2013. From 2011 to 2014, Mr. Seagrave
was a partner at Strategic Business Velocity Solutions, a
privately-held technology company, which provided revenue
acceleration services for sales, marketing and business
development functions to social media and analytics customers.
From 2006 to 2011, Mr. Seagrave was a Senior Director with Cisco
Systems, where he managed strategy and global product launches
related to the Internet of Things. Prior to that, Mr. Seagrave
was a Vice President in Application Sales at Oracle and a
founding member of Oracles Applications team.
The Company intends to agree upon compensation and enter into
employment agreements with each of Mr. Pallack, Mr. Del Priore
and Mr. Seagrave. As of the date hereof, there are no other
material plans, contracts or arrangements relating to the
compensation of Mr. Pallack, Mr. Del Priore or Mr. Seagrave as
officers of the Company. There is no arrangement or understanding
between Mr. Pallack, Mr. Del Priore or Mr. Seagrave and any other
person to which any of them was selected as an officer of the
Company. There are no family relationships between Mr. Pallack,
Mr. Del Priore or Mr. Seagrave and any director or executive
officer of the Company, and none of Mr. Pallack, Mr. Del Priore
or Mr. Seagrave is party to a related party transaction within
the meaning of Item 404(a) of Regulation S-K.
| Item 8.01 | Other Events. |
On June 30, 2017, the Company issued a press release to announce
the appointment of Messrs. Pallack, Del Priore and Seagrave as
executive officers of the Company. The full text of the press
release is attached to this Current Report on Form 8-K as Exhibit
99.1 and is incorporated by reference herein.
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits. |
| Exhibit Number | |
| 99.1 | Press Release dated June 30, 2017 |
SITO MOBILE, LTD. ExhibitEX-99.1 2 t1702046_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 SITO Mobile Appoints Industry Veteran Additions to Management Team Board Unanimously Approves Thomas J. Pallack,…To view the full exhibit click here About SITO MOBILE, LTD. (NASDAQ:SITO)
SITO Mobile, Ltd. operates a mobile location-based advertising platform serving businesses, advertisers and brands. The Company’s offerings include SITO Location-Based Advertising and SITO Mobile Messaging. SITO Location-Based Advertising delivers display advertisements and videos on behalf of advertisers, including various features, such as Geo-fencing, Verified walk-in, Behavioral Targeting, and Analytics and Optimization. Geo-fencing targets customers within a certain radius of location and uses technology to push coupons, advertisements and promotions to mobile applications. Verified Walk-in tracks foot-traffic to locations and which advertisements drive action. Behavioral Targeting tracks past behaviors over 30 to 90 day increments allowing for real-time campaign management. Analytics and Optimization is a culling and building measurement system. SITO Mobile Messaging is a platform for building and controlling programs, including messaging and customer incentive programs.