UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________
FORM
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
(Exact name of registrant as specified in its charter)
| (State or Other Jurisdiction | (Commission | (I.R.S. Employer | ||
| of Incorporation) | File Number) | Identification No.) |
(Address of Principal Executive Office) (Zip Code)
(Registrant’s telephone number, including area code)
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:
Securities registered pursuant to Section 12(b) of the Act: None
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
| Emerging growth company |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b)
On April 14, 2023, Aspen Group, Inc. (the “Company”) notified Robert Alessi, the Company’s Chief Accounting Officer, that his employment with the Company was being terminated, effective May 4, 2023, as a part of the Company’s ongoing efforts to reduce costs.
As a result of Mr. Alessi’s termination, Mr. Alessi’s Employment Agreement with the Company is also being terminated effective May 4, 2023. Pursuant to his Employment Agreement, Mr. Alessi is entitled to six months’ base salary in addition to any accrued and unpaid salary and other amounts, and full vesting of any previously granted equity awards. A copy of Mr. Alessi’s Employment Agreement was filed as Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended January 31, 2021 filed on March 16, 2021.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit | Incorporated by Reference | Filed or Furnished | ||||||||
| # | Exhibit Description | Form | Date | Number | Herewith | |||||
| 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.
| ASPEN GROUP, INC. | |||
| Date: May 8, 2023 | By: | /s/ Michael Mathews | |
| Name: Michael Mathews | |||
| Title: Chief Executive Officer | |||
Cover |
Apr. 14, 2023 |
|---|---|
| Cover [Abstract] | |
| Document Type | 8-K |
| Amendment Flag | false |
| Document Period End Date | Apr. 14, 2023 |
| Entity File Number | 001-38175 |
| Entity Registrant Name | ASPEN GROUP, INC. |
| Entity Central Index Key | 0001487198 |
| Entity Tax Identification Number | 27-1933597 |
| Entity Incorporation, State or Country Code | DE |
| Entity Address, Address Line One | 276 Fifth Avenue |
| Entity Address, Address Line Two | Suite 505 |
| Entity Address, City or Town | New York |
| Entity Address, State or Province | NY |
| Entity Address, Postal Zip Code | 10001 |
| City Area Code | (646) |
| Local Phone Number | 448-5144 |
| Written Communications | false |
| Soliciting Material | false |
| Pre-commencement Tender Offer | false |
| Pre-commencement Issuer Tender Offer | false |
| Entity Emerging Growth Company | false |