Wireless Telecom Group, Inc. (NYSEMKT:WTT) 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
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Robert Censullo and Wireless Telecom Group, Inc. (the Company)
have agreed that Mr. Censullo will leave the Company effective
March 31, 2017. Mr. Censullo is currently serving as the Companys
Corporate Controller and has agreed to assist in the transition
of his duties from now until March 31, 2017. During such period,
he will continue to report to the Companys Chief Financial
Officer. Mr. Censullos departure is not the result of any
disagreement with management.
The Company and Mr. Censullo entered into a Confidential
Separation Agreement and General Release, dated February 9, 2017,
(the Separation Agreement). to the Separation Agreement, (i) the
Company will pay Mr. Censullo six months continuing salary
beginning with the Companys first payroll in April 2017 and
ending September 30, 2017, (ii) the Company will reimburse Mr.
Censullo for one month of COBRA healthcare continuation and (iii)
Mr. Censullo has provided a standard release of the Company from
claims arising from his employment and/or the termination
thereof.
About Wireless Telecom Group, Inc. (NYSEMKT:WTT)
Wireless Telecom Group, Inc. designs and manufactures radio frequency (RF) and microwave-based products for wireless and communications industries. The Company markets its products and services across the world under the brand names, Boonton, Microlab and Noisecom. It serves both commercial and government markets with solutions in distributed antenna systems (DAS), cellular/mobile, wireless fidelity (Wi-Fi), worldwide interoperability for microwave access (WiMAX), private mobile radio, satellite, cable, radar, avionics, medical and computing applications. It operates through two segments: network solutions, and test and measurement. The network solutions segment includes the operations of its subsidiary, Microlab/FXR (Microlab). The test and measurement segment is comprised primarily of the operations of Boonton Electronics Corporation (Boonton) and Noise Com, Inc. (Noisecom). Its suite of instruments and components includes peak power meters and signal analyzers. Wireless Telecom Group, Inc. (NYSEMKT:WTT) Recent Trading Information
Wireless Telecom Group, Inc. (NYSEMKT:WTT) closed its last trading session 00.00 at 1.72 with 8,640 shares trading hands.