Business Context and Reporting Period
This Form 8-K Current Report is filed by Precision Optics Corporation, Inc. (POCI) for the reporting period ending September 29, 2025. The filing discloses significant changes in executive leadership, specifically the departure of a senior officer and the appointment of a new Chief Operating Officer.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on personnel changes and related contractual agreements.
Material Changes
Departure of Mahesh Lawande
- Termination: Mr. Mahesh Lawande's employment will terminate on October 31, 2025.
- Transition Role: Effective October 1, 2025, he transitioned to the role of "Advisor to the President" through the termination date.
- Severance Modification: A Modification Agreement amended his severance period from six months to seven months following the termination date.
Appointment of Joseph Traut
- New Role: Mr. Joseph Traut was appointed Chief Operating Officer, effective October 1, 2025.
- Compensation: Annual base salary of $275,000 with eligibility for an annual bonus up to 25% of salary.
- Equity Grant: Granted an inducement stock option to purchase 60,000 shares of common stock. The exercise price is based on the closing price on October 1, 2025. The options vest in three equal annual installments over a ten-year term.
Guidance, Outlook, and Risks
The filing does not provide financial guidance, outlook, or management commentary regarding future business performance. No specific risks or contingencies are disclosed beyond the standard incorporation of the full text of the employment and modification agreements.
Investor Verification Checklist
- Verify the terms of the Modification Agreement (Exhibit 10.1) regarding Mr. Lawande's extended severance period.
- Review the Employment Agreement (Exhibit 10.2) and Non-Competition Agreement (Exhibit 10.3) for Mr. Traut to understand specific covenants and vesting conditions.
- Confirm the exact exercise price of the 60,000 stock options granted to Mr. Traut based on the October 1, 2025, closing stock price.
- Monitor the transition period for operational continuity as Mr. Lawande serves as an advisor through October 31, 2025.