UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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): November 19, 2014
hopTo Inc.
(Exact Name of Registrant as Specified in Charter)
|
Delaware |
|
0-21683 |
|
13-3899021 |
|
(State or Other Jurisdiction of Incorporation) |
|
Commission File Number |
|
(IRS Employer Identification No.) |
|
1919 S. Bascom Avenue, Suite 600 Campbell, CA |
|
95008 |
|
(Address of Principal Executive Offices) |
|
(Zip Code) |
Registrant’s telephone number, including area code: (800) 472-7466
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):
|
[ ] |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
[ ] |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
[ ] |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
[ ] |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
|
Item 5.02 |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Ashfaq A. Munshi
On November 19, 2014, the board of directors (the "Board") of hopTo Inc. (the "Company") elected Ashfaq A. Munshi, 53, to the Board. Mr. Munshi will serve as a Class I director for a term ending as of the annual meeting of stockholders in 2015.
There are no arrangements or understandings by which Mr. Munshi was named a director. Neither the Company nor any of its subsidiaries was involved in any transactions with Mr. Munshi or his immediate family that are reportable pursuant to Section 404(a) of Regulation S-K.
Mr. Munshi is the chairman and founder of Terabitz, Inc., a real estate technology company, and has served as its acting chief executive officer since 2006. Mr. Munshi has also served as chief technology officer of Yahoo! Inc. (NASDAQ: YHOO), as head of Yahoo! Labs and as interim chief executive officer and chairman of both MSC Software (NASDAQ: MSCS) and Level5 Networks. With over 20 years' experience as a technologist, Mr. Munshi has also served as chairman of several startup companies and founded four other Silicon Valley companies: Radiance, Vivecon, SpecialtyMD, which was acquired by Ventro/Chemdex, and Commerce Engine. Mr. Munshi was a corporate vice president at Applied Materials and vice president and general manager of the Enterprise Business Unit at SGI.
Mr. Munshi holds an A.B. in Mathematics from Harvard University and is an alumnus of the Stanford Graduate School of Business.
Concurrent with his appointment to the Board, Mr. Munshi was granted employee stock options to purchase 700,000 shares of the Company's common stock at the closing price of the Company's common stock on November 19, 2014. He is eligible to participate in all compensation plans available to the Company's other directors, as described in the Company’s most recently filed proxy statement.
Jeremy E. Verba
On November 19, 2014, the Board voted to amend the 700,000 employee stock options granted to Mr. Verba on December 18, 2013 by reducing their exercise price, which was $0.37 per share, to the closing price of the Company's common stock on November 19, 2014. Such amendment is equivalent to cancelling the original options and granting new options. All others terms of Mr. Verba's options, including vesting and expiration, remain unchanged.
|
Item 8.01 |
Other Events. |
We issued a press release on November 24, 2014 announcing the appointment of Ashfaq Munshi as a member of our Board.
A copy of this press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
|
Item 9.01 |
Exhibits. |
Exhibit 99.1 Press release dated November 24, 2014
SIGNATURES
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 thereunto duly authorized.
| hopTo Inc. | |||
|
Dated: November 25, 2014 |
|
By: |
/s/ Jean-Louis Casabonne |
|
|
Jean-Louis Casabonne | ||
|
|
Chief Financial Officer, Secretary | ||
Exhibit 99.1
hopTo Announces New Board Member, Ashfaq Munshi
CAMPBELL, Calif. – (November 24, 2014) – hopTo Inc. (OTCQB: HPTO), developer of the most comprehensive mobile productivity platform, today announced that Ashfaq A. Munshi, was appointed to the company’s board of directors.
Ashfaq Munshi, also known as Ash, is a technologist with over 20 years of entrepreneurship, engineering, marketing and senior management experience. He is the Chairman and founder of Terabitz, Inc. and has served as its acting CEO since 2006.
“Ash has extraordinary business expertise in the technology industry, and we are delighted that he is joining hopTo’s board of directors,” said Eldad Eilam, President and CEO and of hopTo. “Ash brings a wealth of experience, from enterprise customers to individual consumers, as well as the insights that come from running a successful large global software company and a fast-emerging startup. He will be a great addition to our board.”
Ash has also served as the Chief Technology Officer of Yahoo! Inc., as Head of Yahoo! Labs and as interim CEO and chairman of both MSC Software (NASDAQ: MSCS) and Level5 Networks. He has also served as chairman of a number of technology startup companies
In addition to Terabitz, Ash has founded four other Silicon Valley companies: Radiance, Vivecon, SpecialtyMD, and Commerce Engine. Earlier in his career, he served as a corporate vice president at Applied Materials and before that, Ash was vice president and general manager of the Enterprise Business Unit at SGI.
Ash holds an A.B. in Mathematics from Harvard and has completed graduate work in computer science at Brown and the University of California, Santa Cruz. He is an alumnus of the Stanford Graduate School of Business.
“I am honored to join the hopTo board and work with this exceptional team,” Munshi said. “hopTo is poised to become a force in the BYOD productivity market, especially with SMBs and Enterprise companies, and I look forward to sharing my experiences and contributing to the future direction and growth of this ground breaking company.”
About hopTo:
Founded in its current form in 2012, hopTo Inc. is an innovator of a unique mobile productivity workspace platform. The hopTo mobile solution delivers an unparalleled user experience without compromising enterprise security. hopTo brings a new standard of mobile productivity by enabling individuals to Search, Access, Create, Edit and Share content from their mobile devices, efficiently and effectively, by leveraging any combination of on-premise or cloud stored content, documents and data as well as enterprise applications. The company is based in Campbell, CA.
For more information on hopTo, please visit: www.hopTo.com, www.facebook.com/hopTo or download the hopTo IRapp from the hopTo investor page.
Forward-Looking Statements:
This press release contains statements that are forward looking as that term is defined by the United States Private Securities Litigation Reform Act of 1995. These statements include statements regarding future growth and the expected impact of our products on the marketplace. These statements are based on management’s current expectations and are subject to a number of uncertainties and risks that could cause actual results to differ significantly from those described in the forward looking statements. Factors that may cause such a difference include the following: the success of our new products depends on a number of factors including market acceptance and our ability to manage the risks associated with new product introduction and developing and marketing new versions of the product; and other factors, including those set forth under Item 1A, “Risk Factors” in our Annual Report on Form 10-K/A for the year ended December 31, 2013, and in other documents we have filed with the SEC.
Investor Contact:
Julie Silber
KCSA Strategic Communications
jsilber@kcsa.com
310-766-9760
Media Contact:
Samantha Wolf
KCSA Strategic Communications
swolf@kcsa.com
212-896-1220