Know Labs CEO Phillip Bosua resigns, receives $400K severance; Chairman Ronald Erickson named CEO

USBC, Inc.

Phillip Bosua resigned as CEO and Board member on Jan 23, 2023; not due to any disagreement with the company.
Bosua receives $400,000 severance, $10k/month consulting fee for one year, and lock-up on 3,005,000 shares.
Chairman Ronald P. Erickson appointed as CEO, effective Jan 23, 2023, while remaining Chairman of the Board.
Bosua's outstanding stock options cease vesting; vested options exercisable for one year post-separation.

item 5.02 item 7.01

Executive movements

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Departed

Phillip A. Bosua

Chief Executive Officer

USBC · USBC, Inc.

Effective: 2023-01-23
Successor: Ronald P. Erickson
Filed: January 25, 2023, 6:59 PM ET

On January 23, 2023, Phillip A. Bosua resigned from the Board of Directors and from his position as Chief Executive Officer of Know Labs, Inc.

Appointed

Ronald P. Erickson

Chief Executive Officer

USBC · USBC, Inc.

Effective: 2023-01-23
Filed: January 25, 2023, 6:59 PM ET

On January 23, 2023, the Board of Directors of the Company appointed Ronald P. Erickson, the current Chairman of the Board, to the position of 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

Phillip A. Bosua resigned as Chief Executive Officer at USBC, Inc..

Action: resigned
Role: Chief Executive Officer

Exact text from the filing

On January 23, 2023, Phillip A. Bosua resigned from the Board of Directors and from his position as Chief Executive Officer of Know Labs, Inc.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Ronald P. Erickson was appointed as Chief Executive Officer at USBC, Inc..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

On January 23, 2023, the Board of Directors of the Company appointed Ronald P. Erickson, the current Chairman of the Board, to the position of Chief Executive Officer of the Company.

View on SEC.gov

USBC, Inc. filing history →

Source: SEC EDGAR

accession 0001654954-23-000811

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