UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION
On July 19, 2021, Intrusion Inc. (the “Company”) issued a press release announcing that preliminary revenue for the second quarter of 2021 is expected to be within a range of $1.9 million and $2.0 million. A copy of the press release is attached as Exhibit 99.1 hereto and incorporated herein by reference.
The Company plans to release its full second quarter results on Thursday, August 12, 2021.
ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS
On July 19, 2021, the Company’s Board of Directors (the “Board”) terminated the services of Jack B. Blount as the Company’s President and Chief Executive Officer. Mr. Blount was not serving under the terms of any employment agreement, and the Company and Mr. Blount are in discussions regarding the details of his separation from the Company, his resignation from the Board, and any severance payments which may be associated with his separation. In connection with this action, the Board appointed the Company’s Chief Financial Officer, Franklin Byrd, and the Company’s Chief Technology Officer, Joe Head, to assume operating responsibilities together on behalf of the Company until such time as a successor chief executive officer is named. In such roles, Mr. Byrd and Mr. Head will report to Tony J. LeVecchio, the Company’s Board Chair. There are no additional compensation arrangements with Mr. Byrd or Mr. Head in connection with these additional responsibilities. Biographical information for Mr. Byrd and Mr. Head and information regarding any related party transactions between Mr. Byrd and Mr. Head and the Company as defined in Item 404(a) of Regulation SK is contained in the Company’s Definitive Proxy Statement for the Annual Meeting of Stockholders as filed with the Securities and Exchange Commission on April 5, 2021. There are no family relationships between Mr. Byrd or Mr. Head and any other director, executive officer or person nominated or chosen to be a director or executive officer of the Company.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits
| 99.1 | Press Release Issued by Intrusion Inc. on July 19, 2021. | |
| 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.
| INTRUSION INC. | ||
| By: | /s/ B. Franklin Byrd | |
| B. Franklin Byrd Chief Financial Officer | ||
Date: July 23, 2021
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