Business Context and Reporting Period
This Form 8-K is a current report filed by Dataram Corporation on January 9, 2012, regarding events occurring on that date. The filing addresses significant changes in the company's executive leadership structure.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and does not contain financial performance data.
Material Changes
- Departure of CFO: Mark Maddocks retired as an employee and resigned as Chief Financial Officer effective January 13, 2012, citing health reasons.
- Appointment of Interim CFO: The Board of Directors appointed Marc P. Palker as Interim Chief Financial Officer, Principal Accounting Officer, and Principal Financial Officer effective January 13, 2012.
- Term of Appointment: Mr. Palker's interim term is set for 90 days, subject to extension by mutual agreement.
- Transition Arrangement: Mr. Maddocks will provide consulting services to the company during the transition period.
Management Commentary and Compensation
Mr. Palker brings extensive experience in SEC reporting, SOX compliance, and financial management from his previous roles at CFO Consulting Partners and Madison Davis Professional Services. Regarding compensation, Mr. Palker will not receive direct compensation from Dataram Corporation nor participate in employee benefit plans. Instead, the company will compensate CFO Consulting Partners for Mr. Palker's services. The filing confirms no undisclosed arrangements or family relationships exist between Mr. Palker and other directors or officers.
Investor Verification Checklist
- Verify the effective date of the leadership transition (January 13, 2012).
- Confirm the 90-day interim term for the new CFO and conditions for extension.
- Review the compensation structure to ensure understanding that payments are made to a third-party consulting firm rather than directly to the individual.
- Monitor future filings for the appointment of a permanent Chief Financial Officer.