Business Context and Reporting Period
Motorsport Games Inc. filed this Form 8-K on August 25, 2021, under Item 5.02 to report a board resignation and appointment. The filing does not report operating or financial results for a specific reporting period.
Financial and Operating Metrics
The filing does not provide revenue, profit, cash flow, margins, debt, liquidity, guidance, or other financial metrics.
Material Changes
- Rob Dyrdek resigned as a director effective August 25, 2021, citing personal reasons and no disagreement with the Company’s board or management.
- Peter Moore was appointed to fill the resulting board vacancy and was also appointed to the Audit Committee.
- The board determined that Mr. Moore is independent under applicable SEC and Nasdaq requirements and qualified for Audit Committee service.
Management Commentary, Risks, and Unusual Items
Mr. Moore brings more than 30 years of experience in gaming, entertainment, and consumer products. He currently serves as Senior Vice President and General Manager of Sports and Live Entertainment at Unity Software Inc. and previously held senior roles at Liverpool F.C., Electronic Arts, Microsoft, Sega, and Reebok.
The filing states that there were no related-party transactions between the Company and Mr. Moore and no arrangements or understandings with any other person regarding his selection. He will receive director and Audit Committee compensation disclosed in the Company’s April 26, 2021 definitive proxy statement.
Key Facts to Verify
- Confirm the effective date and stated personal reason for Mr. Dyrdek’s resignation.
- Review Mr. Moore’s independence and Audit Committee qualifications under Nasdaq requirements.
- Review the April 26, 2021 definitive proxy statement for applicable director compensation.
- Review Exhibit 99.1, the August 25, 2021 press release, for any additional details not included in the filing text.