---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-23-006874"
form_type: "8-K"
ticker: "INTZ"
cik: "0000736012"
company_name: "INTRUSION INC"
filed_at: "2023-10-02T23:59:59+00:00"
generated_at: "2026-06-10T06:41:18.955905+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Intrusion settles SEC charges without penalty; Nasdaq warns of bid price deficiency

## Summary
- Settled SEC investigation with no monetary penalty; permanent injunction against securities law violations.
- Received Nasdaq deficiency notice: bid price below $1.00 for 30 days; must regain compliance by March 25, 2024.
- Shareholder derivative lawsuit settled for $250K in fees (covered by insurance) plus governance changes.
- Amended bylaws: lead independent director required if CEO also holds Chairman role.
- Still facing a separate Nasdaq market value of listed securities deficiency with Oct 25, 2023 deadline.

## SEC filing metadata
- accession: 0001683168-23-006874
- form_type: 8-K
- ticker: INTZ
- cik: 0000736012
- company_name: INTRUSION INC
- filed_at: 2023-10-02T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 8.01, 5.03, 3.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/736012/000168316823006874/0001683168-23-006874-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/736012/000168316823006874/intrusion_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-23-006874
- JSON: https://secwatch.observer/filing/0001683168-23-006874.json
- Plain text: https://secwatch.observer/filing/0001683168-23-006874.txt

## Key facts
- Listing & Compliance Notices
  INTRUSION INC received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)).
  - Exchange: nasdaq
  - Notice: deficiency notice
  - Deficiency: minimum bid price
  - Rules: 5550(a)(2), 5810(c)(3)(A)
  source text: bid price of the Company’s common shares (the “Common Shares”) over the 30 consecutive trading days from August 14, 2023, through September 25, 2023, had fallen below $1.00 per share, which is the minimum closing bid price required to maintain listing on the NASDAQ Capital Market under Listing Rule 5550(a)(2) (the “Minimum Bid Requirement”). In accordance with NASDAQ Listing Rule 5810(c)(3)(A), the Company has 180 calendar days to regain compliance with the Minimum Bid Requirement (the “Grace Period”), or until March 25, 2024, subject to a potential 180 calendar day extension, as described bel
  evidence_url: https://www.sec.gov/Archives/edgar/data/736012/000168316823006874/0001683168-23-006874-index.htm
- Governance Changes
  INTRUSION INC: Adopted amended and restated bylaws requiring a lead independent director when CEO and Chairman are the same individual (effective 2023-09-27).
  - Change: bylaw amendment
  - Effective: 2023-09-27
  source text: On September 27, 2023, in connection with the Settlement Agreement, the Board of Directors adopted amended and restated bylaws (“A&R Bylaws”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/736012/000168316823006874/0001683168-23-006874-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.