Report of Foreign Issuer (6-k)
October 24 2019 - 12:30PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of October 2019
POWERBRIDGE TECHNOLOGIES CO., LTD.
(Translation of Registrant's name into English)
1st Floor, Building D2, Southern Software
Park
Tangjia Bay, Zhuhai, Guangdong 519080, China
Tel: +86-756-339-5666
(Address of Principal Executive Office)
Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is
submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant
is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
CONTENTS
On October 24, 2019, the
Board of Directors (the “Board”) of Powerbridge Technologies Co., Ltd. (the “Company”) appointed
Mr. Stewart Lor as the co-Chairman of the Board, the co-Chief Executive Officer, and the President of the Company, effective immediately.
On the same day, Mr. Ban Lor resigned from his position as the President of the Company, effective immediately. Mr. Ban Lor’s
resignation from such position was not the result of any disagreement between the Company and him on any matter relating to the
Company’s operations, policies or practices and he will continue with the Company as co-CEO and co-Chairman.
Mr. Stewart Lor, age 56,
is the co-founder of the Company and serves on Board and as the Company’s Chief Financial Officer since August 2018. Previously,
he served on the Board and as the Chief Operating Officer from October 1997 to September 2006. Mr. Lor served as President of Lorons
International Corporation from August 1988 to October 1995. He had served various executive positions at Cmark Holdings Ltd. and
Fanz Co., Ltd. from November 2006 to September 2017. He holds a B.S. in Biochemistry from State University of New York at Stony
Brook.
Except for Mr. Stewart
Lor’s sibling relationship with Mr. Ben Lor, the co-Chief Executive Officer and co-Chairman of the Board of the Company,
there are no family relationships between any of the executive officers and directors of the Company. Mr. Lor has not been involved
in any transaction with the Company during the past two years that would require disclosure under Item 404(a) of Regulation S-K.
Notwithstanding
with Mr. Stewart Lor’s appointment as the co-Chairman of the Board, the co-Chief Executive Officer, and the President of
the Company, there has been no change to Mr. Stewart Lor’s existing employment agreement with the Company. Mr. Stewart Lor
currently earns a salary of RMB1,600,000 (approximately USD$234,189) per year, subject to increases at the discretion of the Company.
The
Company or Mr. Stewart Lor may terminate his employment by providing the other party with 3 months’ notice (or payment in
lieu of notice). If his employment with the Company is terminated for any reason, the Company will pay to Mr. Stewart Lor any unpaid
portion of his salary through the date of his termination, and any unpaid bonus through the date of termination, as well as any
unpaid or unused portions of his benefits under such employment agreement.
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.
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POWERBRIDGE TECHNOLOGIES CO., LTD.
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By:
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/s/ Ban Lor
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Ban Lor
Co-Chief Executive Officer
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Date: October 24, 2019
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