Basanite appoints Simon R. Kay as CEO, President, and Acting Interim CFO

BASANITE, INC.

Simon R. Kay appointed CEO and President, effective March 25, 2022; also serves as Acting Interim CFO.
Employment agreement: two-year term, annual base salary of $250,000, automatically renews year-to-year.
Kay receives warrant for 2M shares at $0.33, vesting 1M immediately and 1M on first anniversary; 5-year term.
Cash bonus of $100,000 if Company uplists from OTCQB to NYSE/Nasdaq and achieves positive cash flow for a quarter.

item 5.02 item 9.01

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Appointed (interim)

Simon R. Kay

Chief Executive Officer, President, and Acting Interim Chief Financial Officer

BASA · BASANITE, INC.

Effective: 2022-03-25
Filed: March 31, 2022, 7:59 PM ET

On March 25, 2022, the Board of Directors (the “ Board ”) of Basanite, Inc. (the “ Company ”) appointed Simon R. Kay (“ Kay ”) as the Company’s Chief Executive Officer and President.

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Executive change SEC 8-K Item 5.02 confidence 0.95

Simon R. Kay was appointed as Chief Executive Officer, President, and Acting Interim Chief Financial Officer at BASANITE, INC..

Action: appointed
Role: Chief Executive Officer, President, and Acting Interim Chief Financial Officer

Exact text from the filing

On March 25, 2022, the Board of Directors (the “ Board ”) of Basanite, Inc. (the “ Company ”) appointed Simon R. Kay (“ Kay ”) as the Company’s Chief Executive Officer and President.

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Source: SEC EDGAR

accession 0001553350-22-000279

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