UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM
CURRENT REPORT
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Item 1.01. Entry Into a Material Definitive Agreement
The information set forth below in Item 5.02 is incorporated by reference in this Item 1.01.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On September 26, 2024, Simeon Salzman notified Gryphon Digital Mining, Inc. (the “Company”) of his decision to rescind his resignation as the Chief Financial Officer of the Company, which was provided on July 29, 2024 and previously disclosed in a Current Report on Form 8-K filed by the Company on August 2, 2024 (the “Previous 8-K”).
As disclosed in the Previous 8-K, in connection with Mr. Salzman’s resignation, the Company and Mr. Salzman entered into a letter agreement (the “Letter Agreement”) that superseded and replaced the Employment Agreement, dated June 19, 2023, between Mr. Salzman and the Company (the “Employment Agreement”). Pursuant to the Letter Agreement, Mr. Salzman would remain with the Company in his current position to assist with the transition of his responsibilities until November 15, 2024.
On September 26, 2025, in connection with the rescission of Mr. Salzman’s resignation, the Company and Mr. Salzman terminated the Letter Agreement and entered into an amendment to the Employment Agreement (the “Amendment”). Pursuant to the Amendment, the Employment Agreement was reinstated on substantially the same terms and conditions as existed prior to the Letter Agreement except (i) Mr. Salzman’s base annual salary was increased to $275,000, and (ii) the Restricted Period (as defined in the Employment Agreement) has been reduced to the term of Mr. Salzman’s employment and for the six (6) months thereafter.
The foregoing summary of the Amendment is qualified in its entirety by reference to the terms and provisions of the Amendment, which is filed herewith as Exhibit 10.1 and incorporated by reference herein.
Item 7.01 Regulation FD Disclosure
On September 27, 2024, the Company issued a press release announcing Mr. Salzman’s continuation as the Chief Financial Officer of the Company.
A copy of the press release is furnished as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
| 10.1 | Amendment No. 1 to Employment Agreement, dated September 26, 2024, between the Company and Simeon Salzman | |
| 99.1 | Press release, dated as of September 27, 2024 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| GRYPHON DIGITAL MINING, INC. | |||
| Date: September 27, 2024 | By: | /s/ Steve Gutterman | |
| Name: | Steve Gutterman | ||
| Title: | Chief Executive Officer | ||
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