---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-056752"
form_type: "8-K"
ticker: null
cik: "0001054721"
company_name: "BSQUARE CORP /WA"
filed_at: "2023-12-08T23:59:59+00:00"
generated_at: "2026-06-07T15:23:04.888685+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Bsquare acquired by Kontron for $1.90 per share; delisting and CEO departure follow

## Summary
- Offer accepted 70.9% of shares (14,093,157); remaining shares converted in merger at $1.90 each.
- CEO Ralph Derrickson resigns effective Dec 31, 2023; receives $345,000 severance, $172,500 bonus, $166,544 performance bonus, and 12 months COBRA.
- New board appointed: Phillip Schulz, Helmut Fischer, Ted Christiansen; Cheryl Wynne remains CFO.
- Shares delisted from Nasdaq; company intends to file Form 15 to suspend SEC reporting.

## SEC filing metadata
- accession: 0001140361-23-056752
- form_type: 8-K
- cik: 0001054721
- company_name: BSQUARE CORP /WA
- filed_at: 2023-12-08T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 2.01, 3.01, 3.03, 5.01, 5.02, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1054721/000114036123056752/0001140361-23-056752-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1054721/000114036123056752/ny20016211x1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-056752
- JSON: https://secwatch.observer/filing/0001140361-23-056752.json
- Plain text: https://secwatch.observer/filing/0001140361-23-056752.txt

## Key facts
- Executive change
  Mary Jesse resigned as Director at BSQUARE CORP /WA.
  - Action: resigned
  - Role: Director
  source text: each of Robert J. Chamberlain, Richard A. Karp, Ralph C. Derrickson, Ryan Vardeman, Mary Jesse and Bernee D.L. Strom resigned from the Bsquare Board of Directors
  evidence_url: https://www.sec.gov/Archives/edgar/data/1054721/000114036123056752/0001140361-23-056752-index.htm
- Executive change
  Ralph C. Derrickson resigned as Director at BSQUARE CORP /WA.
  - Action: resigned
  - Role: Director
  source text: each of Robert J. Chamberlain, Richard A. Karp, Ralph C. Derrickson, Ryan Vardeman, Mary Jesse and Bernee D.L. Strom resigned from the Bsquare Board of Directors
  evidence_url: https://www.sec.gov/Archives/edgar/data/1054721/000114036123056752/0001140361-23-056752-index.htm
- Executive change
  Robert J. Chamberlain resigned as Director at BSQUARE CORP /WA.
  - Action: resigned
  - Role: Director
  source text: each of Robert J. Chamberlain, Richard A. Karp, Ralph C. Derrickson, Ryan Vardeman, Mary Jesse and Bernee D.L. Strom resigned from the Bsquare Board of Directors
  evidence_url: https://www.sec.gov/Archives/edgar/data/1054721/000114036123056752/0001140361-23-056752-index.htm
- Executive change
  Richard A. Karp resigned as Director at BSQUARE CORP /WA.
  - Action: resigned
  - Role: Director
  source text: each of Robert J. Chamberlain, Richard A. Karp, Ralph C. Derrickson, Ryan Vardeman, Mary Jesse and Bernee D.L. Strom resigned from the Bsquare Board of Directors
  evidence_url: https://www.sec.gov/Archives/edgar/data/1054721/000114036123056752/0001140361-23-056752-index.htm
- Executive change
  Phillip Schulz was appointed as Director at BSQUARE CORP /WA.
  - Action: appointed
  - Role: Director
  source text: Phillip Schulz, Helmut Fischer and Ted Christiansen became directors of Bsquare.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1054721/000114036123056752/0001140361-23-056752-index.htm
- Executive change
  Helmut Fischer was appointed as Director at BSQUARE CORP /WA.
  - Action: appointed
  - Role: Director
  source text: Phillip Schulz, Helmut Fischer and Ted Christiansen became directors of Bsquare.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1054721/000114036123056752/0001140361-23-056752-index.htm
- Executive change
  Bernee D.L. Strom resigned as Director at BSQUARE CORP /WA.
  - Action: resigned
  - Role: Director
  source text: each of Robert J. Chamberlain, Richard A. Karp, Ralph C. Derrickson, Ryan Vardeman, Mary Jesse and Bernee D.L. Strom resigned from the Bsquare Board of Directors
  evidence_url: https://www.sec.gov/Archives/edgar/data/1054721/000114036123056752/0001140361-23-056752-index.htm
- Executive change
  Ted Christiansen was appointed as Director at BSQUARE CORP /WA.
  - Action: appointed
  - Role: Director
  source text: Phillip Schulz, Helmut Fischer and Ted Christiansen became directors of Bsquare.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1054721/000114036123056752/0001140361-23-056752-index.htm
- Executive change
  Ryan Vardeman resigned as Director at BSQUARE CORP /WA.
  - Action: resigned
  - Role: Director
  source text: each of Robert J. Chamberlain, Richard A. Karp, Ralph C. Derrickson, Ryan Vardeman, Mary Jesse and Bernee D.L. Strom resigned from the Bsquare Board of Directors
  evidence_url: https://www.sec.gov/Archives/edgar/data/1054721/000114036123056752/0001140361-23-056752-index.htm
- Executive change
  Ralph C. Derrickson resigned as President and Chief Executive Officer at BSQUARE CORP /WA.
  - Action: resigned
  - Role: President and Chief Executive Officer
  source text: Mr. Derrickson agreed to cease serving as the President and Chief Executive Officer of Bsquare, effective December 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1054721/000114036123056752/0001140361-23-056752-index.htm
- M&A Transactions
  BSQUARE CORP /WA underwent a change of control involving Kontron America, Incorporated for $1.90 per Share (closed 2023-12-07).
  - Action: change of control
  - Counterparty: Kontron America, Incorporated
  - Consideration: $1.90 per Share
  - Closing: 2023-12-07
  source text: the terms of the Merger Agreement, Purchaser commenced a tender offer to purchase all outstanding shares of common stock, no par value (the “Shares”), of Bsquare, at a price of $1.90 per Share, net in cash, without interest (less any required withholding taxes) (the “Offer Price”), upon the terms and subject to the conditions set forth in the Offer to
  evidence_url: https://www.sec.gov/Archives/edgar/data/1054721/000114036123056752/0001140361-23-056752-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.