UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
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
On June 15, 2023, Rudolph A. Lutterschmidt tendered his resignation to the Company’s Board of Directors as Vice-President and Chief Financial Officer of Nocopi Technologies, Inc. (the “Company”), effective June 19, 2023. Mr. Lutterschmidt’s departure was not the result of any disagreement with the Company nor any issue related to the Company’s financial statements or accounting practices. Debra Glickman will serve as the Company’s new Chief Financial Officer. Mr. Lutterschmidt will remain employed by the Company until June 30, 2023 in an advisory role to assist Ms. Glickman with her transition into the Chief Financial Officer position.
On June 15, 2023, Debra Glickman, age 56, was appointed by the Company’s Board of Directors to serve as the Company’s Chief Financial Officer effective June 19, 2023. As the Company’s Chief Financial Officer, Ms. Glickman will be responsible for leading the Company’s finance and accounting functions, including financial reporting and analysis, and such other duties as may be prescribed by the Company’s Chief Executive Officer from time to time.
There are no arrangements or understandings between Ms. Glickman and any other persons pursuant to which she was appointed as the Company’s Chief Financial Officer. There is no family relationship between Ms. Glickman and any director, executive officer, or person nominated or chosen by the Company to become a director or executive officer of the Company. The Company has not entered into any transactions with Ms. Glickman that would require disclosure pursuant to Item 404(a) of Regulation S-K under the Securities Exchange Act of 1934.
Since April 2020, Ms. Glickman, served as the Controller of Hallman & Lorber, a privately-owned pension and actuarial consulting firm where she was responsible for all accounting/financial, human resource, and tax planning functions. Prior to that, from June 2012 to February 2020, she served as the Chief Financial Officer of Harbor Group Consulting, a private insurance consulting and analysis firm where she lead accounting/financial, operations and human resources and benefits administration. Ms. Glickman received her Bachelor of Science in Accounting from the University of Maryland College Park in 1988.
Ms. Glickman entered into a written employment agreement with the Company whereby she will receive as compensation, among other things, a base salary of $125,000 per year. Additionally, Ms. Glickman will be eligible to receive a discretionary annual bonus, payable at such times and in such amounts, as determined by the Company’s Board of Directors. A copy of Ms. Glickman’s employee agreement is attached as Exhibit 10.1 to this Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description of Exhibit | |
| 10.1 | Employment Agreement – Debra Glickman | |
| 104 | Cover Page Interactive Data File (the cover page XBRL tags are 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.
| NOCOPI TECHNOLOGIES, INC. | ||
| Dated: June 20, 2023 | By: | /s/ Michael A. Feinstein |
| Michael A. Feinstein | ||
| Chief Executive Officer | ||