Business Context and Reporting Period
This Form 8-K is a current report filed by Summit Wireless Technologies, Inc. (not Datavault AI Inc.) on June 23, 2020, regarding events occurring on June 19 and June 22, 2020. The registrant is incorporated in Delaware and trades on the Nasdaq Capital Market under the symbol WISA.
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 corporate governance changes and does not contain financial performance data.
Material Changes
- Resignation of Director: Sam Runco resigned from the Board of Directors effective June 19, 2020. He served on the Nominating and Corporate Governance Committee. The resignation was not due to any disagreement with the Company regarding operations, policies, or practices.
- Appointment of Director: Sri Peruvemba was appointed to the Board effective June 22, 2020, to replace Mr. Runco. He will serve until the next annual meeting of stockholders.
- Committee Assignments: Mr. Peruvemba was appointed to the Audit Committee and the Nominating and Corporate Governance Committee.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary regarding future performance. No risks, contingencies, or unusual items were disclosed in this specific report. The Company confirmed there were no understandings or arrangements with Mr. Peruvemba regarding his appointment that required disclosure under Item 404(a) of Regulation S-K.
Investor Verification Checklist
- Verify the correct registrant name is Summit Wireless Technologies, Inc. (WISA), as the input metadata referenced "Datavault AI Inc."
- Confirm the effective dates of the board changes: June 19, 2020 (resignation) and June 22, 2020 (appointment).
- Review the attached press release (Exhibit 99.1) for additional biographical details on the new director.
- Note that this filing does not impact the Company's financial statements or operational metrics.