UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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): March 9, 2021
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INSEEGO CORP.
(Exact Name of Registrant as Specified in its Charter)
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12600 Deerfield Parkway, Suite 100
| Delaware | 001-38358 | 81-3377646 | ||||||
(State or other jurisdiction of incorporation) | (Commission file number) | (I.R.S. Employer identification number) | ||||||
Alpharetta, Georgia 30004
(Address of principal executive offices) (Zip Code)
(858) 812-3400
(Registrant’s telephone number, including area code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Securities registered pursuant to Section 12(b) of the Act:
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: | |||||
☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | ||||
☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | ||||
☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | ||||
☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | ||||
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
| Common Stock, par value $0.001 per share | INSG | Nasdaq Global Select Market | ||||||
| Preferred Stock Purchase Rights | ||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. | ||||
On March 9, 2021, the Compensation Committee of the Board of Directors of Inseego Corp. (the “Company”) approved bonus payments payable to the Company’s employees, including the Company’s named executive officers, based on the Company’s achievement during 2020 of certain key corporate objectives as identified by the Compensation Committee. Dan Mondor, the Company’s Chairman and Chief Executive Officer, and Craig Foster, the Company’s Chief Financial Officer, were awarded bonuses of $440,000 and $78,906, respectively. Bonus payments will be made through an award of immediately vesting restricted stock units (“RSUs”) under the Company’s 2018 Omnibus Incentive Compensation Plan, with the number of RSUs determined by dividing the amount of the bonus award by the 5-day weighted average sales price for the Company’s common stock.
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.
INSEEGO CORP. | |||||||||||||||||
Date: March 15, 2021 | By: | /s/ Kurt E. Scheuerman | |||||||||||||||
Name: Kurt E. Scheuerman | |||||||||||||||||
| Title: Senior Vice President and General Counsel | |||||||||||||||||