UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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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.
BM Technologies, Inc. (the “Company”) previously announced on February 7, 2024 the mutual agreement with James Dullinger, the Company’s current Chief Financial Officer, to not renew Mr. Dullinger’s existing Employment Agreement dated January 26, 2023 (as amended, the “Dullinger Agreement”), upon its expiration on March 31, 2024, and the appointment of Ajay Asija as Chief Financial Officer, effective as of April 1, 2024 (the “Asija Agreement”). On March 26, 2024, the Company’s Board of Directors approved the extension of Mr. Dullinger’s service as Chief Financial Officer through April 5, 2024 and further approved the effective date on which Mr. Asija would assume the role of Chief Financial Officer as April 6, 2024.
On March 26, 2024, the Company and Mr. Dullinger entered into a second amendment (the “Dullinger Amendment”) to the Dullinger Agreement, providing for the extension of Mr. Dullinger’s employment as Chief Financial Officer of the Company through April 5, 2024, payment of an extension bonus, accrual of paid time off, and deletion of non-compete restrictions. Concurrently, the Company and Mr. Asija entered into a first amendment (the “Asija Amendment”) to the Asija Agreement to modify the effective date on which Mr. Asija will assume the role as the Company’s Chief Financial Officer, from April 1, 2024 to April 6, 2024.
The foregoing descriptions of the Dullinger Amendment and the Asija Amendment are not complete and are qualified in their entirety by reference to the full text of each agreement, copies of which are filed as Exhibits 10.1 and 10.2 to this Current Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description | |
| 10.1 | Second Amendment to Employment Agreement, dated as of March 26, 2024, by and between BM Technologies, Inc. and James Dullinger | |
| 10.2 | First Amendment to Employment Agreement, dated as of March 26, 2024, by and between BM Technologies, Inc. and Ajay Asija | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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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.
| BM TECHNOLOGIES, INC. | ||
| Dated: April 1, 2024 | By: | /s/ Luvleen Sidhu |
| Name: | Luvleen Sidhu | |
| Title: | Chief Executive Officer | |
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