Current Report Filing (8-k)
March 12 2019 - 4:32PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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):
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March 6, 2019
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Wireless
Telecom Group, Inc.
(Exact Name of Registrant as Specified in
Its Charter)
New
Jersey
(State or Other Jurisdiction of Incorporation)
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001-11916
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22-2582295
|
|
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(Commission File Number)
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(IRS Employer Identification No.)
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25 Eastmans Road
Parsippany, New Jersey
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07054
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(Address of Principal Executive Offices)
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(Zip Code)
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(973)
386-9696
(Registrant’s Telephone Number, Including
Area Code)
(Former Name or Former Address, if Changed
Since Last Report)
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
(
see
General Instruction A.2. below):
o
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging
growth company 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
o
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.
o
Item 5.02 Departure of Directors or
Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Executive Annual
Incentive Awards.
On March 6, 2019, the Compensation Committee of Wireless Telecom Group, Inc. (“the Company”)
authorized the payment of annual cash bonus awards to each of the Company’s named executive officers pursuant to the Company’s
Officer Incentive Compensation Plan (“Bonus Plan”). In 2018, the Compensation Committee met and established certain
2018 performance goals with respect to each participant. These performance goals include 2018 non GAAP adjusted EBITDA targets
as well as individual management objectives for each participant. Upon the completion of the 2018 financial statement audit, the
Compensation Committee reviewed 2018 non GAAP adjusted EBITDA and the performance of each of the named executive officers measured
against their individual management objectives. Based on this review, the Compensation Committee awarded the following cash bonuses
which will be paid in a lump sum:
Name
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Target
Bonus
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Actual
Bonus
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Timothy Whelan,
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$200,000
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$188,060
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Chief Executive Officer
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Michael Kandell,
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$100,000
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$95,180
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Chief Financial Officer
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Daniel Monopoli,
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$75,000
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$68,573
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Chief Technology Officer
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SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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WIRELESS TELECOM GROUP, INC.
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Date: March 12, 2019
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By:
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/s/ Michael J Kandell
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Michael J Kandell
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Chief Financial Officer
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