Item 5.02
Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers
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Item 5.02
Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers
On December 17, 2021,
the Board of Directors (the “Board”) of Data I/O Corporation appointed Dr.
Cheemin Bo-Linn to the Board effective on that date. She was named to the Audit
Committee, Compensation Committee, and Nominating & Corporate Governance
Committee of the Board.
Dr. Cheemin Bo-Linn is
the CEO of Peritus Partners, Inc., a valuation accelerator, for industry
sectors including automotive, electronics, consumer, and medical sectors with
integrated security, starting in 2013. Her prior positions include 20+ years in
IBM senior executive roles, where she led global teams as IBM’s VP of
Industrial Sector/Electronics, responsible for IBM’s software, semiconductor
chips, storage, and consulting services. Dr. Bo-Linn earned a doctorate degree
in computer-based management information and organizational change from the
University of Houston. She was also named a Visiting Professor in the Joint
2017-2018 EMBA/MBA program of Columbia University, London School of Business,
and the University of Hong Kong. Her teaching domain included digital transformation
and technology (artificial intelligence, IoT, sensory farms, data
analytics, and security).
Dr. Bo-Linn has
extensive domain experience and has been recognized for her accomplishments.
She was named “Top Woman of Influence” by Silicon Valley Business Journal and
was inducted to the “Hall of Fame” for Women in Technology. In 2019, she was
named one of the “Top 50” public company Board of Directors, by the National
Association of Corporate Directors amongst its 22,000 members. The Financial
Times / Agenda named her one of the 2021 “Top 100” Diverse Directors in the
Americas. Currently she is Lead Independent Director at BlackLine Safety, (TSX:
BLS) a global manufacturer of hardware enabled IoT SaaS solutions for the
transportation, consumer and industrial sectors and recently joined KORE Wireless,
(NASDAQ: KORE) an IOT solutions and services business. She has board
governance and industry expertise having served on four public boards in flash
memory, cloud, SaaS and manufacturing as well as experience on each of the
major board committees.
There were no
arrangements or understandings pursuant to which she was selected. There have
been no related person transactions. She was identified as a candidate through
our Board members’ networking. She will receive prorated the Data I/O Director
standard retainer compensation and a grant of Restricted Stock Units equivalent
to the prorated annual Director grant using the fair value on the date of
appointment and vesting as of the next annual meeting of shareholders.