Research Solutions settles proxy fight; founder/executive chairman Derycz departs board

Research Solutions, Inc.

Peter Derycz's employment terminated without cause; resigns from board and all committees effective Sept 15, 2023.
Investor Group (5,921,930 shares) withdraws director nominations for 2023 annual meeting; agrees to standstill.
Company to appoint new independent director mutually agreed with the Investor Group.
Mutual general release of claims; parties agree not to disparage or initiate litigation.
Investor Group votes with board recommendations except on extraordinary transactions; agreement expires Dec 30, 2024.

item 1.01 item 5.02 item 8.01 item 9.01

Executive movements

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Departed

Peter Derycz

Executive Chairman of the Board

RSSS · Research Solutions, Inc.

Effective: 2023-09-15
Filed: September 20, 2023, 7:59 PM ET

the Company terminated Mr. Derycz’s employment as Executive Chairman of the Board without cause. Mr. Derycz’s termination resulted in the resignation of Mr. Derycz from the Board and from all committees on which he served effective as of September 15, 2023.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Peter Derycz was terminated as Executive Chairman of the Board at Research Solutions, Inc..

Action: terminated
Role: Executive Chairman of the Board

Exact text from the filing

the Company terminated Mr. Derycz’s employment as Executive Chairman of the Board without cause. Mr. Derycz’s termination resulted in the resignation of Mr. Derycz from the Board and from all committees on which he served effective as of September 15, 2023.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Research Solutions, Inc. entered into Cooperation Agreement with Peter Derycz, Bristol Investment Fund, Ltd., Bristol Capital Advisors, LLC and Paul Kessler (collectively, the "Investor Group") (effective 2023-09-15).

Action: entry
Agreement: settlement
Counterparty: Peter Derycz, Bristol Investment Fund, Ltd., Bristol Capital Advisors, LLC and Paul Kessler (collectively, the "Investor Group")
Effective: 2023-09-15

Exact text from the filing

On September 15, 2023, Research Solutions, Inc. (the “Company”) entered into a Cooperation Agreement (the “Cooperation Agreement”) with Peter Derycz, Bristol Investment Fund, Ltd., Bristol Capital Advisors, LLC and Paul Kessler (collectively, the “Investor Group”).

View on SEC.gov

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Research Solutions, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-102246

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