secwatch.observer — SEC 8-K summary
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Issuer:     LogicMark, Inc. (LGMK)
CIK:        0001566826
Form:       8-K
Filed at:   2021-08-13T23:59:59+00:00
Accession:  0001213900-21-042513
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 1.01, 5.02, 1.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nxt-ID settles Series C preferred dividend dispute for $750k; Chairman Vincent Miceli resigns
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- Settlement with Giesecke+Devrient Mobile Security America for $750,000 resolves all claims over unpaid Series C preferred dividends and related litigation.
- Payment terms: $250,000 due within 2 business days; remaining $500,000 in monthly installments through Nov 30, 2021, guaranteed by LogicMark.
- Vincent Miceli resigned as director and Chairman effective Aug 9, 2021; entered consulting agreement with semi-monthly cash of ~$19,000 plus benefits and accelerated vesting of 50,000 shares.
- Miceli agreed to vote his shares in favor of a reverse stock split proposal at the upcoming special meeting.
- Future quarterly dividends on Series C preferred remain at 15% rate ($75,000 per quarter) per settlement terms.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1566826/000121390021042513/0001213900-21-042513-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1566826/000121390021042513/ea145816-8k_nxtidinc.htm
  HTML page:      https://secwatch.observer/filing/0001213900-21-042513

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