CEO Simon Kay departs abruptly; Board names Michael V. Barbera as Acting Interim CEO

BASANITE, INC.

CEO Simon Kay terminated employment effective Nov 14, 2022, citing 'Good Reason' under his employment agreement and claiming unpaid wages.
Board appointed director Michael V. Barbera as Acting Interim CEO; he previously served as Chairman since Jan 2020.
Board ratified Sept 21, 2022 appointment of Ronald J. LoRicco, Sr. as Chairman.
Company states it will defend against any claims from Kay regarding unpaid wages.

item 5.02 item 9.01

Executive movements

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Appointed

Ronald J. LoRicco, Sr.

Chairman of the Board

BASA · BASANITE, INC.

Effective: 2022-09-21
Filed: November 18, 2022, 6:59 PM ET

The Board also ratified and approved its September 21, 2022 appointment of Ronald J. LoRicco, Sr. as Chairman of the Board.

Appointed (interim)

Michael V. Barbera

Acting Interim Chief Executive Officer

BASA · BASANITE, INC.

Effective: 2022-11-17
Filed: November 18, 2022, 6:59 PM ET

On November 17, 2022, the Board appointed Michael V. Barbera, a director of the Corporation, as Acting Interim Chief Executive Officer of the Company.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Ronald J. LoRicco, Sr. was appointed as Chairman of the Board at BASANITE, INC..

Action: ratified appointment
Role: Chairman of the Board

Exact text from the filing

The Board also ratified and approved its September 21, 2022 appointment of Ronald J. LoRicco, Sr. as Chairman of the Board.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Michael V. Barbera was appointed as Acting Interim Chief Executive Officer at BASANITE, INC..

Action: appointed
Role: Acting Interim Chief Executive Officer

Exact text from the filing

On November 17, 2022, the Board appointed Michael V. Barbera, a director of the Corporation, as Acting Interim Chief Executive Officer of the Company.

View on SEC.gov

BASANITE, INC. filing history →

Source: SEC EDGAR

accession 0001553350-22-000932

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