Coda Octopus Group, Inc. - Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Coda Octopus Group, Inc., a Delaware corporation, on June 18, 2019, reporting an event that occurred on June 12, 2019. The filing addresses a change in the compensatory arrangements of a certain officer.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is limited to executive compensation adjustments and does not contain financial performance data.
Material Changes
The Compensation Committee of the Board of Directors resolved to increase the annual cash compensation of Annmarie Gayle, Chief Executive Officer, from $230,000 to $305,000. This increase is effective July 1, 2019. No other changes were made to her employment agreement dated March 16, 2017.
Guidance, Outlook, and Risks
The filing contains no guidance, outlook, management commentary on business strategy, or discussion of risks and contingencies. The document is strictly an administrative disclosure regarding executive pay.
Key Facts for Investor Verification
- CEO Annmarie Gayle's annual salary increased by $75,000, representing a 32.6% increase from the prior rate.
- The new salary of $305,000 is effective as of July 1, 2019.
- The increase was approved by the Compensation Committee on June 12, 2019.
- No other terms of the CEO's employment agreement were modified.