UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 5.02. | Departure of Directors or Certain Officers; Appointment of Certain Officers, Compensatory Arrangements of Certain Officers |
Change in Company Officers and Directors
In early March of 2024, Paul Davis presented to the then current members of the board of directors (the “Former Board”) of Zalatoris Acquisition Corp., a Delaware corporation (the “Company”) a resignation letter resigning from his position as Chief Executive Officer and as a member of the Former Board (the “CEO Resignation”).
On March 15, 2024, the Former Board appointed Stephanos Papadopoulos, a then independent director of the Company, as Chief Executive Officer and director of the Company, in order to fill the vacancy created by the CEO Resignation (the “New CEO Appointment”). Also on March 15, 2024, to fill the vacancy in the Former Board created by the New CEO Appointment and to comply with independence requirements under the New York Stock Exchange (the “NYSE”), the Former Board appointed Llewellyn Farquharson as an independent director of the Company.
In mid-March of 2024, Llewellyn Farquharson was terminated from his position as an independent director of the Company (“Mr. Farquharson’s Termination”).
On April 12, 2024, the board of directors (the “Board”) of the Company held a special meeting (the “Meeting”) during which the Board ratified Mr. Farquharson’s Termination and, after making independence determinations and confirming compliance with the NYSE independence requirements, appointed Andrew Kwon as an independent director of the Company and member of the Audit Committee of the Company.
As a result of the above-mentioned resignations and appointments, the Board and the Executive Officers of the Company shall consist of solely the following persons:
| Chief Executive Officer and Director | Stephanos Papadopoulos |
| Chief Financial Officer and Director | Pantelis Dimitriou |
| Independent Director | Niall Ennis |
| Independent Director | Adeel Rouf |
| Independent Director | Andrew Kwon |
The following sets forth certain information concerning each of the new appointees’ past employment history, directorships held in public companies, if any, and, for directors, their qualifications for service on the Board.
Stephanos Papadopoulos
Mr. Papadopoulos has been a member of the board of the Company since September 7, 2023. He has worked in C Suite, Advisory Board and Board Director level positions in strategy finance and operations, as well as a consultant and coach on an international basis in numerous industries, including financial services, FMCG, retail trade, manufacturing, high tech, education, mining, construction, heavy machinery trading and automobile trade. Mr. Papadopoulos holds both a Bachelor’s Degree and Master’s Degree in Business Administration from Michigan State University. He is qualified as a CPA and CGMA and is a member of the American Institute of Certified Public Accountants.
Andrew Kwon
Mr. Kwon has over 20 years of experience in equities, derivatives-oriented trading on buy side and sell side. He focuses primarily on SPAC investments generating alpha through pre- and post-merger strategies. He is an expert in SPAC mechanics, valuation, warrant opportunity identification and risk management. Mr. Kwon is proficient in equity research, deal analysis, and efficient trade execution. He was previously a Senior Trading Analyst for Glazer Capital Management, from January 2021 to January 2024. In his role, he analyzed over 700 SPAC IPOs and managed a $500 million SPAC portfolio. He graduated from Northeastern University with a Bachelor of Science.
Committee Appointments
As a result of Andrew Kwon’s appointment to the Board and as a member of the Audit Committee, at the Meeting the Board confirmed and ratified the composition of each of the Audit Committee, the Compensation Committee, and Nominating and Corporate Governance Committee, which are now as follows:
| Audit Committee |
Niall Ennis Adeel Rouf Andrew Kwon |
| Compensation Committee |
Niall Ennis Adeel Rouf Andrew Kwon |
| Nominating and Corporate Governance Committee |
Niall Ennis Adeel Rouf Andrew Kwon |
| Item 9.01. | Financial Statements and Exhibits. |
| Exhibit Number |
Description of Exhibit | |
| 104 | Cover Page Interactive Data File (Embedded within the Inline XBRL document and included in Exhibit) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has caused this report to be signed on its behalf by the undersigned duly authorized officer.
| ZALATORIS ACQUISITION CORP. | ||
| Date: April 17, 2024 | By: | /s/ Stephanos Papadopoulos |
| Stephanos Papadopoulos | ||
| Chief Executive Officer | ||