UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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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
The registrant’s Board of Directors has appointed Jim McDonnell, 63, as an independent member to the Board, effective January 1, 2023. Mr. McDonnell brings over four decades of experience in law enforcement. More information about his background can be found in the press release, which is filed as an exhibit to this report.
Non-employee directors receive cash compensation of $24,000 annually. In addition, Mr. McDonnell has been granted 10,684 restricted shares of the registrant’s common stock which are subject to vesting requirements and 42,735 restricted stock units which vest only upon the sale of the registrant. There were no previous transactions between the registrant and Mr. McDonnell.
The vacancy on the Board of Directors was created by the resignation of James Richardson, which was effective December 31, 2022. His resignation was not the result of any disagreement with the registrant, its management, the Board or any committee of the Board.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit No. | Description | |
| 99.1 | Press release of the registrant dated January 3, 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, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| VIRTRA, INC. | ||
| Date: January 3, 2023 | By: | /s/ Robert D. Ferris |
| Name: | Robert D. Ferris | |
| Title: | Co-Chief Executive Officer | |