Current Report Filing (8-k)
June 30 2020 - 4:31PM
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): June 30, 2020
MGT
Capital Investments, Inc.
Delaware
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001-32698
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13-4148725
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(State
or other jurisdiction
of
incorporation)
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(Commission
File
Number)
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(IRS
Employer
Identification
No.)
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150
Fayetteville Street, Suite 1110
Raleigh,
North Carolina
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27601
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(914)
630-7430
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(Address
of principal
executive
offices)
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(Zip
Code)
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(Registrant’s
telephone number, including area code)
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(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:
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[ ]
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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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Securities
registered pursuant to Section 12(b) of the Act:
None
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.
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Departure
of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.
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Effective
June 30, 2020, Robert S. Lowrey’s employment with MGT Capital Investments, Inc. (the “Company”) ended. Mr. Lowrey
formerly served as the Chief Financial Officer of the Company.
On
June 30, 2020, in connection with the end of his employment, Mr. Lowrey and the Company entered into a separation and release
agreement dated June 30, 2020 (the “Separation Agreement”). The Separation Agreement provides that Mr. Lowrey will
be paid a lump sum of $25,000, representing all compensation earned or deferred through the end of Mr. Lowrey’s employment.
In addition, the Separation Agreement provides for the payment of $19,525 to Mr. Lowrey for unreimbursed taxes and for Company-paid
COBRA health insurance coverage.
The
foregoing description of the Separation Agreement does not purport to be complete and is qualified in its entirety by reference
to the full text of the Separation Agreement, a copy of which will be filed with the Company’s Quarterly Report on Form
10-Q for the period ending June 30, 2020.
Signature
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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MGT
Capital Investments, Inc.
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Date:
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June
30, 2020
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By:
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/s/ Robert
B. Ladd
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Name:
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Robert
B. Ladd
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Title:
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Chief
Executive Officer
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