Rekor completes acquisition of Waycare Technologies for ~$61M; appoints Noam Maital as Waycare CEO

Rekor Systems, Inc.

Total consideration ~$61M: $40.7M cash + 2.8M shares of REKR (at $7.286/share) plus $5M in RSUs for employees.
Waycare becomes wholly-owned subsidiary; acquisition closed August 18, 2021.
Noam Maital (former Waycare CFO/co-founder) appointed CEO of Waycare with 3-year term, $300k base salary.
Maital to receive 255,284 RSUs (valued ~$1.86M) vesting over three years starting August 18, 2022.

item 2.01 item 5.02 item 9.01

Executive movements

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Appointed

Noam Maital

Chief Executive Officer of Waycare

REKR · Rekor Systems, Inc.

Effective: 2021-08-18
Filed: August 19, 2021, 7:59 PM ET

On August 18 2021, in connection with the closing of the acquisition of Waycare, the Company publicly announced the appointment of Noam Maital, age 34, to serve as Chief Executive Officer of Waycare, the Company’s wholly-owned subsidiary.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Noam Maital was appointed as Chief Executive Officer of Waycare at Rekor Systems, Inc..

Action: appointed
Role: Chief Executive Officer of Waycare

Exact text from the filing

On August 18 2021, in connection with the closing of the acquisition of Waycare, the Company publicly announced the appointment of Noam Maital, age 34, to serve as Chief Executive Officer of Waycare, the Company’s wholly-owned subsidiary.

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Rekor Systems, Inc. filing history →

Source: SEC EDGAR

accession 0001654954-21-009231

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