Lantronix appoints CEO Saleel Awsare to Board; grants inducement equity awards

LANTRONIX INC

Saleel Awsare appointed to Board effective Nov. 20, 2023; Board now has five directors, four independent.
Awsare receives 470,255 RSUs vesting one-third annually over three years starting Nov. 1, 2024.
PSU awards: 235,127 tied to FY24 PSU plan (performance over FY2024-2026) and 223,931 tied to TSR.
No additional compensation for Board service; awards granted as inducement under Nasdaq Rule 5635(c)(4).

item 5.02 item 7.01 item 9.01

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Appointed

Saleel Awsare

Director

LTRX · LANTRONIX INC

Effective: 2023-11-20
Filed: November 21, 2023, 6:59 PM ET

The board of directors (the “Board”) of Lantronix, Inc. (the “Company”) has appointed Saleel Awsare, the President and Chief Executive Officer of the Company, as a member of the Board effective as of November 20, 2023

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Saleel Awsare was appointed as Director at LANTRONIX INC.

Action: appointed
Role: Director

Exact text from the filing

The board of directors (the “Board”) of Lantronix, Inc. (the “Company”) has appointed Saleel Awsare, the President and Chief Executive Officer of the Company, as a member of the Board effective as of November 20, 2023

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LANTRONIX INC filing history →

Source: SEC EDGAR

accession 0001683168-23-008379

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