secwatch.observer — SEC 8-K summary
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Issuer:     LANTRONIX INC (LTRX)
CIK:        0001114925
Form:       8-K
Filed at:   2023-11-06T23:59:59+00:00
Accession:  0001140361-23-051481
Event type: leadership
Sentiment:  positive
Materiality: 0.75
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lantronix names Saleel Awsare President and CEO, effective Nov 20, 2023
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- Awsare joins from Synaptics, where he served as SVP and GM of Enterprise & Mobile Division.
- Base salary of $500,000; annual target bonus of 100% base; sign-on bonus of $136,000.
- Equity inducement grant of $4.15M in RSUs and PSUs (time- and performance-based).
- Separation benefits include salary continuation, bonus, COBRA, and equity acceleration.
- Interim CEO Jeremy Whitaker signed filing; prior CEO departure not detailed.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1114925/000114036123051481/0001140361-23-051481-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1114925/000114036123051481/ef20014088_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-051481

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer