Smith Micro Software, Inc. (NASDAQ:SMSI) 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 March 14, 2019, the Compensation Committee of the Board of Directors of Smith Micro Software, Inc. (the “Company”) and the Company’s Board of Directors approved the following discretionary performance bonus:
|
Name |
Position |
Cash Bonus (1) |
Unrestricted Stock Award (2) |
|
|
William W. Smith, Jr. |
President and Chief Executive Officer |
$ |
100,000 |
50,000 shares |
(1) The cash bonus will be paid by the Company on a quarterly basis throughout the fiscal year ending December 31, 2019.
(2) The grant date of the unrestricted common stock award was March 14, 2019.
The discretionary cash bonus and unrestricted stock award were recommended by the Compensation Committee and approved by the Board of Directors, in recognition of the exemplary performance of Mr. Smith.
About Smith Micro Software, Inc. (NASDAQ:SMSI)
Smith Micro Software, Inc. is a provider of software solutions. The Company operates through two segments: Wireless and Graphics. The Company offers multi-platform, modular solutions organized into three product families, including NetWise, CommSuite and QuickLink. For mobile network operators, NetWise helps reduce cellular congestion and optimize data traffic across third-generation (3G), fourth-generation (4G) and wireless fidelity (Wi-Fi) networks. Graphics segment includes its consumer-based products, such as Poser, Anime Studio, Manga Studio, MotionArtist and StuffIt. The Graphics segment develops a range of software, including graphic design and animation, compression and personal computer (PC)/Mac utilities, for consumers, professional artists and educators. The Company also offers Family Safety platform for family locator and parental controls.
