secwatch.observer — SEC 8-K summary
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Issuer:     LANTRONIX INC (LTRX)
CIK:        0001114925
Form:       8-K
Filed at:   2023-11-21T23:59:59+00:00
Accession:  0001683168-23-008379
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1114925/000168316823008379/0001683168-23-008379-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1114925/000168316823008379/lantronix_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-23-008379

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