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 25, 2019, regarding events occurring on June 19, 2019, and June 24, 2019. The company is incorporated in Delaware and trades on the Nasdaq Capital Market under the symbol WISA. The filing addresses changes to the Board of Directors.
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: Michael A. Fazio resigned from the Board of Directors effective June 19, 2019. The resignation is to focus on managing MARCorp Financial LLC and is not due to any disagreement with the Company.
- Appointment: Lisa Cummins Dulchinos was appointed to the Board on June 24, 2019, to replace Mr. Fazio. She will serve until the next annual meeting of stockholders.
- Committee Assignment: Ms. Dulchinos is expected to serve on the Company's Audit Committee.
Outlook, Risks, and Management Commentary
Management commentary is limited to the background of the new director. Ms. Dulchinos brings over 25 years of experience as a financial executive in global high-tech organizations, including roles as CFO at Ayar Labs and Adept Technology. There are no stated risks, contingencies, or unusual items related to financial operations in this filing. The Company confirmed there were no understandings or arrangements regarding Ms. Dulchinos' appointment requiring disclosure under Item 404(a) of Regulation S-K.
Key Facts for Investor Verification
- Verify the trading symbol WISA on the Nasdaq Capital Market corresponds to Summit Wireless Technologies, Inc.
- Confirm the effective date of Michael A. Fazio's resignation (June 19, 2019) and Lisa Cummins Dulchinos' appointment (June 24, 2019).
- Review the attached Press Release (Exhibit 99.1) for additional details on the Board composition.
- Note that this filing contains no financial data; refer to the most recent 10-Q or 10-K for financial metrics.