secwatch.observer — SEC 8-K summary
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Issuer:     LogicMark, Inc. (LGMK)
CIK:        0001566826
Form:       8-K
Filed at:   2022-11-04T23:59:59+00:00
Accession:  0001213900-22-069413
Event type: other_material
Sentiment:  negative
Materiality: 0.70
Item codes: 3.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

LogicMark receives Nasdaq deficiency notice for minimum bid price; enters new CEO employment agreement
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- Nasdaq notified LogicMark of non-compliance with $1.00 minimum bid price; 180-day cure period until May 1, 2023.
- Closing bid price below $1.00 for 30 consecutive business days; shares continue trading on Nasdaq Capital Market.
- New employment agreement with CEO Chia-Lin Simmons effective June 14, 2022, through August 31, 2025.
- CEO base salary $500,000; annual bonus up to 100% of base; restricted stock grants to maintain 6% ownership.
- If compliance not regained by May 1, 2023, may qualify for second 180-day compliance period.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1566826/000121390022069413/0001213900-22-069413-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1566826/000121390022069413/ea168075-8k_logicmark.htm
  HTML page:      https://secwatch.observer/filing/0001213900-22-069413

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