Current Report Filing (8-k)
September 30 2020 - 4:38PM
Edgar (US Regulatory)
0001708341
false
0001708341
2020-09-24
2020-09-24
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xbrli:shares
iso4217:USD
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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):
September 24, 2020
ALLIED ESPORTS ENTERTAINMENT, INC.
(Exact Name of Registrant as Specified in Charter)
Delaware
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001-38266
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82-1659427
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(State or other jurisdiction
of incorporation)
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(Commission
File Number)
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(I.R.S. Employer
Identification No.)
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17877 Von Karman Avenue, Suite 300
Irvine, California, 92614
(Address of Principal Executive Offices) (Zip
Code)
(949) 265-2600
(Registrant’s Telephone Number, Including
Area Code)
Not Applicable
(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):
☐
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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:
Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Common Stock
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AESE
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The NASDAQ Stock Market LLC
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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.
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Item 5.02
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.
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Amendment to Frank Ng Employment Agreement
On September 30, 2020,
the Company and its Chief Executive Officer, Frank Ng, entered into an Amendment to Mr. Ng’s Employment Agreement (the “Ng
Amendment”). Pursuant to the Ng Amendment, the parties agreed that effective November 1, 2020, Mr. Ng’s annual salary
will be $210,000 for a six-month period, and thereafter the initial annual base salary of $300,000 set forth in the Employment
Agreement will be restored.
The foregoing description
of the Ng Amendment is qualified in its entirety by reference thereto, which is filed as Exhibit 10.1 to this Current Report, and
is incorporated herein by reference.
Compensation of Anthony Hung
On September 24, 2020,
the Company issued to Anthony Hung, the Company’s Chief Financial Officer, 35,715 shares of restricted shares of common stock
in lieu of an annual salary adjustment. The shares remain subject to forfeiture restrictions until August 18, 2021 and are issued
from the Company’s 2019 Stock Incentive Plan.
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Item 9.01
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Financial Statements and Exhibits.
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(d) Exhibits
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.
Dated: September 30, 2020
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ALLIED ESPORTS ENTERTAINMENT, INC.
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By:
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/s/ Anthony Hung
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Anthony Hung
Chief Financial Officer
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