Basanite enters transition agreement with interim CEO Kay; search for permanent CEO begins

BASANITE, INC.

Simon Kay will step down as Acting Interim CFO; continues as Acting Interim CEO and President during transition period (ends by June 30, 2022).
Kay receives $350,000 annual fee during transition; at end receives warrant to purchase 1,000,000 shares at $0.33 per share.
Company has commenced search for a permanent principal executive officer.
Transition period ends 14 days after hiring new PEO, but no earlier than Feb 28, 2022 and no later than June 30, 2022.
Kay subject to non-solicitation, non-competition, and non-disparagement clauses for one year after transition.

item 1.01 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change (interim)

Simon R. Kay

Chief Financial Officer

BASA · BASANITE, INC.

Effective: 2022-01-20
Filed: January 26, 2022, 6:59 PM ET

(iii) not be required to provide services as Acting Interim Chief Financial Officer of the Company (as such duties may be assumed by other Company personnel);

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Simon R. Kay changed role as Chief Financial Officer at BASANITE, INC..

Action: stepped down as
Role: Chief Financial Officer

Exact text from the filing

(iii) not be required to provide services as Acting Interim Chief Financial Officer of the Company (as such duties may be assumed by other Company personnel);

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BASANITE, INC. filing history →

Source: SEC EDGAR

accession 0001553350-22-000056

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