Current Report Filing (8-k)
January 08 2021 - 5:05PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Form
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date
of Report (Date of earliest event reported): January 7, 2021
DIGITAL
ALLY, INC.
(Exact
Name of Registrant as Specified in Charter)
Nevada
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001-33899
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20-0064269
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(State
or other Jurisdiction
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(Commission
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(IRS
Employer
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of
Incorporation)
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File
Number)
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Identification
No.)
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15612
College Blvd., Lenexa, KS 66219
(Address
of Principal Executive Offices) (Zip Code)
(913)
814-7774
(Registrant’s
telephone number, including area code)
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class
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Trading
Symbol(s)
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Name
of exchange on which registered
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Common stock,
$0.001 par value
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DGLY
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The Nasdaq Capital
Market, LLC
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Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
[ ]
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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[ ]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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[ ]
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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[ ]
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item
5.02
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Departure
of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
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(e)
Effective January 7, 2021, the Compensation Committee of the Board of Directors (the “Committee”) of the Company set
the annual base salaries of Stanton E. Ross, President and Chief Executive Officer, and Thomas J. Heckman, Chief Financial Officer,
Treasurer and Secretary, at $250,000 and $230,000, respectively for 2021.
The
Committee determined that Stanton E. Ross will be eligible for bonuses of up to a total of $250,000 in 2021 and Thomas J. Heckman
will be eligible for bonuses of up to a total of $230,000 in 2021 based on each person’s performance during the year. The
Committee will review each executive officer’s performance on a periodic basis during 2021 and determine what, if any, portion
of the bonus he has earned and will be paid as of such point.
The
Committee awarded Stanton E. Ross 300,000 shares of restricted common stock and Thomas J. Heckman 150,000 shares of restricted
common stock, effective January 7, 2021. Such shares will vest one half on January 6, 2022 and one half on January 6, 2023, provided
that each person remains an officer on such dates.
The
information contained in this Current Report shall not be deemed “filed” for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”) or incorporated by reference in any filing under the Exchange
Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
Date:
January 8, 2021
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Digital
Ally, Inc.
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By:
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/s/
Stanton E. Ross
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Name:
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Stanton
E. Ross
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Title:
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Chairman,
President and Chief Executive Officer
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