Current Report Filing (8-k)
March 06 2018 - 5:04PM
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): February 28, 2018
MARATHON
PATENT GROUP, INC.
(Exact
Name of Registrant as Specified in Charter)
Nevada
|
|
001-36555
|
|
01-0949984
|
(State
or other jurisdiction
of incorporation)
|
|
(Commission
File Number)
|
|
(IRS
Employer
Identification No.)
|
11601
Wilshire Blvd., Ste. 500
Los
Angeles, CA
|
|
90025
|
(Address
of principal executive offices)
|
|
(Zip
Code)
|
Registrant’s
telephone number, including area code: (800) 804-1690
(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:
[ ]
|
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))
|
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 [ ]
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.
|
Amendment
to Retention Agreement with Francis Knuettel, II
On
February 28, 2018, the Board of Directors of the Company (the “
Board
”) approved and authorized increasing the
monthly compensation to Francis Knuettel, II, from $15,000 per month to $18,000 per month effective March 1, 2018, and extending
Mr. Knuettel’s termination date to the later of (i) March 31, 2019 or (ii) the filing of the filing of the Company’s
Annual Report on Form 10-K for the year ended December 31, 2018. In approving such increase, the Board also ratified all other
terms of the Retention Agreement entered into on August 30, 2017 by and between the Corporation and Mr. Knuettel, a copy of which
was filed as Exhibit 10.2 to the Company’s Current Report on Form 8-K filed on September 5, 2017.
Appointment
of Merrick Okamoto as Executive Chairman
On
February 28, 2018, the Board appointed Merrick D. Okamoto, the Company’s Interim Chief Executive Officer, to serve as Executive
Chairman of the Board, effective immediately, and approved and authorized the increase of Mr. Okamoto’s monthly compensation
from $17,500 to $22,500 per month.
Board
Compensation
Pursuant
to an agreement between the Company and each of the Company’s two (2) independent directors, on February 28, 2018, the Board
approved and authorized the issuance of shares of the Company’s restricted common stock to such directors in lieu of
cash fees earned as members of the Board during the quarter ended June 30, 2017, as follows: 9,150 shares to Chris Robichaud
and 9,250 shares to Richard Chernicoff.
On
February 23, 2018, subsequent to the resignation of the Manager and sole director of the Company’s subsidiaries, Marathon
Group SA, Marathon Advisors S.a.r.l. and Marathon Ventures S.a.r.l. (the “
Lux Subsidiaries
”), the Board appointed
Merrick D. Okamoto, the Company’s Interim Chief Executive Officer, to fill in the vacancies and serve as the Manager and
sole director of each of the Lux Subsidiaries, effective immediately.
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 thereunto duly authorized.
Date:
March 6, 2018
|
MARATHON
PATENT GROUP, INC.
|
|
|
|
|
By:
|
/s/
Francis Knuettel II
|
|
Name:
|
Francis
Knuettel II
|
|
Title:
|
Chief
Financial Officer
|
Marathon Digital (NASDAQ:MARA)
Historical Stock Chart
From Mar 2024 to Apr 2024
Marathon Digital (NASDAQ:MARA)
Historical Stock Chart
From Apr 2023 to Apr 2024