UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On August 7, 2023, Greenwave Technology Solutions, Inc. (“Greenwave” or the “Company”) increased the number of directors comprising its Board of Directors (“Board”) from four to five members and appointed Jason Adelman as a member of the Board and as a member of the Audit Committee and the Compensation Committee (collectively, the “Committees”), effective immediately.
Mr. Adelman is deemed an “independent” director as such term is defined by the rules of The Nasdaq Stock Market LLC. There are no family relationships between Mr. Adelman and any of our other officers and directors. Mr. Adelman will serve until the Company’s 2023 Annual Meeting of stockholders or until his successor has been duly elected and qualified.
Mr. Adelman will be compensated $4,000 monthly for his service as a director, and $1,500 annually for his service as a member of the Committees. Additionally, each January, Mr. Adelman will receive common stock of the Company in an amount that will be worth an aggregate of $80,000.
Mr. Jason Adelman - Mr. Adelman is the Founder and Managing Member of Burnham Hill Capital Group, LLC, a privately held financial advisory firm, and serves as Managing Member of Cipher Capital Partners LLC, a private investment fund. Mr. Adelman also serves as a member of the board of directors of Trio-Tech International (Nasdaq: TRT) and Oblong, Inc. (Nasdaq: OBLG). Prior to founding Burnham Hill Capital Group, LLC in 2003, Mr. Adelman served as Managing Director of Investment Banking at H.C. Wainwright and Co., Inc. Mr. Adelman graduated from the University of Pennsylvania with a B.A. in Economics, cum laude, and from Cornell Law School with a J.D. degree.
| Item 7.01 | Regulation FD Disclosure. |
On August 10, 2023, the Company issued a press release regarding the appointment of Mr. Adelman to the Board. A copy of the press release is furnished as Exhibit 99.1 hereto and incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit No. | Description of Exhibit | |
| 99.1 | Press Release dated August 10, 2023 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| GREENWAVE TECHNOLOGY SOLUTIONS, INC. | ||
| August 10, 2023 | By: | /s/ Danny Meeks |
| Name: | Danny Meeks | |
| Title: | Chief Executive Officer | |