Chia-Lin Simmons Joins Nxt-ID as Chief Executive Officer
June 17 2021 - 6:00AM
NXT-ID, Inc. NASDAQ: NXTD (the “Company” or “Nxt-ID”), a provider
of technology products and services for healthcare applications,
announced that Chia-Lin Simmons has joined the company as Chief
Executive Officer and a member of the Board of Directors, effective
June 14, 2021. Ms. Simmons will report to the Company’s Board of
Directors, and will be responsible for performing the services and
duties customarily associated with a Chief Executive Officer
position.
“We are strengthening our management team as we enter our
next phase of growth,” said Mr. Gust, a member of the
Company’s Board of Directors and the Chair of its Compensation
Committee. “Chia-Lin has extensive executive leadership experience
with technology companies. Under her leadership, we can again
consider new growth initiatives.”
“I am very excited to be joining the NXT-ID team” said Ms.
Simmons. “This is a pivotal development phase for the company. I
look forward to working with the Board and the rest of the team to
capitalize on the opportunity for significant growth.”
Chia-Lin Simmons has over 26 years of experience as an executive
for technology companies, with a background in mobility, digital,
marketing and investments, corporate finance, law, and strategic
planning. Most recently, she served as Chief Executive Officer and
co-founder of LookyLoo, Inc., an AI social commerce company. Ms.
Simmons also currently serves as a member of the Board of Directors
for Servco Pacific Inc., a global automotive and consumer goods
company with businesses in mobility, automotive distribution and
sales, and entertainment, and for New Energy Nexus, an
international organization that supports clean energy entrepreneurs
with funds, accelerators and networks.
Before co-founding and serving as Chief
Executive Officer of LookyLoo, Inc., Ms. Simmons served as Head of
Global Partner Marketing at Google Play, prior to which, she served
as VP of Marketing & Content for Harman International.
Ms. Simmons received her B.A. in Communications,
Magna cum Laude and Phi Beta Kappa, from the University of
California, San Diego in 1995. She also received her M.B.A.
from Cornell University in 2002, and her J.D. from George Mason
University in 2005; she is currently a licensed attorney in the
State of New York.
On June 14, 2021, in connection with Ms. Simmons’s appointment
as the Company’s Chief Executive Officer, Ms. Simmons was granted
shares of restricted stock of the Company equal to 5% of the shares
of common stock of the Company issued and outstanding on such date
(the “Shares”) as an inducement material to Ms. Simmons entering
into employment with the Company. The Shares were approved by the
compensation committee of the Company’s Board of Directors and
granted outside of the Company’s 2017 Stock Incentive Plan and 2013
Long-Term Stock Incentive Plan in accordance with Nasdaq Listing
Rule 5635(c)(4). In connection with the award of Shares, Ms.
Simmons and the Company have entered into a Restricted Stock Award
Agreement, which agreement contemplates the Shares vesting over a
48-month period commencing on June 14, 2021. One fourth of such
Shares will vest on June 14, 2022. Thereafter, 1/36 of the Shares
will vest on the first day of each subsequent month until all
Shares have vested.
About Nxt-ID, Inc. Nxt-ID, Inc. (NASDAQ: NXTD)
provides technology products and services for healthcare
applications. The Company has extensive experience in access
control, biometric and behavior-metric identity verification,
security and privacy, encryption and data protection, payments,
miniaturization, sensor technologies and healthcare applications.
Through its subsidiary, LogicMark LLC, Nxt-ID is a manufacturer and
distributor of non-monitored and monitored personal emergency
response systems sold through dealers and distributors and the
United States Department of Veterans Affairs. Learn more about
Nxt-ID at www.nxt-id.com. For Nxt-ID corporate information
contact: info@nxt-id.com.
Forward-Looking Statements for Nxt-ID
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements reflect management's current
expectations, as of the date of this press release, and involve
certain risks and uncertainties. Forward-looking statements include
statements herein with respect to the successful execution of the
Company's business strategy.
The Company’s actual results could differ materially from those
anticipated in these forward-looking statements as a result of
various factors. Such risks and uncertainties include, among other
things, our ability to establish and maintain the proprietary
nature of our technology through the patent process, as well as our
ability to possibly license from others patents and patent
applications necessary to develop products; the availability of
financing; the Company's ability to implement its long range
business plan for various applications of its technology; the
Company's ability to enter into agreements with any necessary
marketing and/or distribution partners; the impact of competition,
the obtaining and maintenance of any necessary regulatory
clearances applicable to applications of the Company's technology;
the Company’s ability to maintain its Nasdaq listing for its common
stock; and management of growth and other risks and uncertainties
that may be detailed from time to time in the Company's reports
filed with the SEC.
Media Contact:Chia-Lin Simmons, CEO
investors@nxt-id.com
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