---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-018987"
form_type: "8-K"
ticker: "AUID"
cik: "0001534154"
company_name: "authID Inc."
filed_at: "2023-03-10T23:59:59+00:00"
generated_at: "2026-06-18T05:26:59.817324+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# authID closes $3.6M financing with investor Garchik; CEO Thimot to resign by April, four new directors appointed

## Summary
- Initial $900K draw from $3.6M facility; subsequent $2.7M subject to conditions, intended to fund working capital through Q1 2024.
- CEO Tom Thimot resigns effective upon appointment of successor or April 3, 2023; company in negotiations for new CEO.
- Five directors resigned: Phillip Kumnick, Philip Broenniman, Michael Gorriz, Neepa Patel, and Tom Thimot (from board).
- Four new directors appointed: Rhon Daguro, Ken Jisser, Thomas Szoke, Michael Thompson; board reduced from 8 to 7.
- Interest on initial note 15% (12% if secured); note matures March 31, 2025.

## SEC filing metadata
- accession: 0001213900-23-018987
- form_type: 8-K
- ticker: AUID
- cik: 0001534154
- company_name: authID Inc.
- filed_at: 2023-03-10T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 5.02, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1534154/000121390023018987/0001213900-23-018987-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1534154/000121390023018987/ea174977-8k_authid.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-018987
- JSON: https://secwatch.observer/filing/0001213900-23-018987.json
- Plain text: https://secwatch.observer/filing/0001213900-23-018987.txt

## Key facts
- Executive change
  Michael A. Gorriz resigned as Director at authID Inc..
  - Action: resigned
  - Role: Director
  source text: Before the A&R Facility Agreement was entered into, Mr. Thimot, Phillip L. Kumnick, Philip R. Broenniman, Michael A. Gorriz and Neepa Patel (the “Retiring Directors”) tendered their resignations from the Board of Directors of the Company, to be held in escrow until the Initial Funding.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1534154/000121390023018987/0001213900-23-018987-index.htm
- Executive change
  Tom Thimot resigned as Director at authID Inc..
  - Action: resigned
  - Role: Director
  source text: Before the A&R Facility Agreement was entered into, Mr. Thimot, Phillip L. Kumnick, Philip R. Broenniman, Michael A. Gorriz and Neepa Patel (the “Retiring Directors”) tendered their resignations from the Board of Directors of the Company, to be held in escrow until the Initial Funding.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1534154/000121390023018987/0001213900-23-018987-index.htm
- Executive change
  Neepa Patel resigned as Director at authID Inc..
  - Action: resigned
  - Role: Director
  source text: Before the A&R Facility Agreement was entered into, Mr. Thimot, Phillip L. Kumnick, Philip R. Broenniman, Michael A. Gorriz and Neepa Patel (the “Retiring Directors”) tendered their resignations from the Board of Directors of the Company, to be held in escrow until the Initial Funding.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1534154/000121390023018987/0001213900-23-018987-index.htm
- Executive change
  Michael Thompson was appointed as Director at authID Inc..
  - Action: appointed
  - Role: Director
  source text: On March 9, 2023, the Board of Directors appointed Messrs. Daguro, Jisser, Thompson and Szoke as additional directors of the Company (the “Additional Directors”) and reduced the size of the Board of Directors from 8 directors to 7 directors, with effect from the resignations of the Retiring Directors.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1534154/000121390023018987/0001213900-23-018987-index.htm
- Executive change
  Thomas Szoke was appointed as Director at authID Inc..
  - Action: appointed
  - Role: Director
  source text: On March 9, 2023, the Board of Directors appointed Messrs. Daguro, Jisser, Thompson and Szoke as additional directors of the Company (the “Additional Directors”) and reduced the size of the Board of Directors from 8 directors to 7 directors, with effect from the resignations of the Retiring Directors.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1534154/000121390023018987/0001213900-23-018987-index.htm
- Executive change
  Phillip L. Kumnick resigned as Director at authID Inc..
  - Action: resigned
  - Role: Director
  source text: Before the A&R Facility Agreement was entered into, Mr. Thimot, Phillip L. Kumnick, Philip R. Broenniman, Michael A. Gorriz and Neepa Patel (the “Retiring Directors”) tendered their resignations from the Board of Directors of the Company, to be held in escrow until the Initial Funding.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1534154/000121390023018987/0001213900-23-018987-index.htm
- Executive change
  Rhon Daguro was appointed as Director at authID Inc..
  - Action: appointed
  - Role: Director
  source text: On March 9, 2023, the Board of Directors appointed Messrs. Daguro, Jisser, Thompson and Szoke as additional directors of the Company (the “Additional Directors”) and reduced the size of the Board of Directors from 8 directors to 7 directors, with effect from the resignations of the Retiring Directors.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1534154/000121390023018987/0001213900-23-018987-index.htm
- Executive change
  Philip R. Broenniman resigned as Director at authID Inc..
  - Action: resigned
  - Role: Director
  source text: Before the A&R Facility Agreement was entered into, Mr. Thimot, Phillip L. Kumnick, Philip R. Broenniman, Michael A. Gorriz and Neepa Patel (the “Retiring Directors”) tendered their resignations from the Board of Directors of the Company, to be held in escrow until the Initial Funding.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1534154/000121390023018987/0001213900-23-018987-index.htm
- Executive change
  Ken Jisser was appointed as Director at authID Inc..
  - Action: appointed
  - Role: Director
  source text: On March 9, 2023, the Board of Directors appointed Messrs. Daguro, Jisser, Thompson and Szoke as additional directors of the Company (the “Additional Directors”) and reduced the size of the Board of Directors from 8 directors to 7 directors, with effect from the resignations of the Retiring Directors.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1534154/000121390023018987/0001213900-23-018987-index.htm
- Executive change
  Tom Thimot resigned as Chief Executive Officer at authID Inc..
  - Action: resigned
  - Role: Chief Executive Officer
  source text: On March 6, 2023, Mr. Thimot tendered his resignation as Chief Executive Officer to the Company, effective upon the earlier of the appointment of his successor and April 3, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1534154/000121390023018987/0001213900-23-018987-index.htm
- Material Agreements
  authID Inc. entered into Amended and Restated Facility Agreement with Stephen J. Garchik valued at $900,000 initial credit facility; $2,700,000 subsequent funding (effective 2023-03-08).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Stephen J. Garchik
  - Value: $900,000 initial credit facility; $2,700,000 subsequent funding
  - Effective: 2023-03-08
  source text: On March 8, 2023, the Company entered into an Amended and Restated Facility Agreement with Garchik, pursuant to which the Company and Garchik amended and restated the Original Facility Agreement in its entirety (the “ A&R Facility Agreement ”), to replace the credit facility contemplated by the Original Facility Agreement with (i) an initial credit facility to the Company in an amount of $900,000 (the “ Initial Funding ”) and (ii) the parties to use their reasonable best efforts after the Initial Funding to negotiate the terms of a subsequent credit facility in the aggregate amount of $2,700,000 (the “ Subsequent Funding ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1534154/000121390023018987/0001213900-23-018987-index.htm

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