Basanite appoints Lisa Gainsborg as CFO, grants 750,000 options

BASANITE, INC.

Appointed Lisa H. Gainsborg, CPA, as CFO, Treasurer and Secretary, effective August 17, 2022.
Base salary of $125,000 per year; reviewed upon listing on a national exchange.
Received 5-year non-qualified option to purchase 750,000 shares at $0.109 per share.
Option vests: 500,000 shares quarterly over 2 years; 250,000 shares upon two consecutive quarters of positive cash flow.
Gainsborg may maintain consulting practice with at least 75% of time dedicated to the company.

item 5.02 item 9.01

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Appointed

Lisa H. Gainsborg

Chief Financial Officer, Treasurer and Secretary

BASA · BASANITE, INC.

Effective: 2022-08-17
Filed: August 22, 2022, 7:59 PM ET

Effective August 17, 2022, the Board of Directors (the “ Board ”) of Basanite, Inc. (the “ Company ”) appointed Lisa H. Gainsborg, CPA as Chief Financial Officer, Treasurer and Secretary of the Company.

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Executive change SEC 8-K Item 5.02 confidence 0.95

Lisa H. Gainsborg was appointed as Chief Financial Officer, Treasurer and Secretary at BASANITE, INC..

Action: appointed
Role: Chief Financial Officer, Treasurer and Secretary

Exact text from the filing

Effective August 17, 2022, the Board of Directors (the “ Board ”) of Basanite, Inc. (the “ Company ”) appointed Lisa H. Gainsborg, CPA as Chief Financial Officer, Treasurer and Secretary of the Company.

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Source: SEC EDGAR

accession 0001553350-22-000713

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