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Freight Technologies | 6-K: Report of foreign private issuer [Rules 13a-16 and 15d-16]

SEC announcement · Jan 19 00:00

FRGT -2.00%

Summary by Moomoo AI

Freight Technologies, Inc. announced significant changes in its executive team on January 19, 2024. Paul D. Freudenthaler resigned as Chief Financial Officer for personal reasons, with no disagreements with the company regarding its operations, policies, or accounting practices. The company has entered into a Resignation Agreement with Freudenthaler, who will assist in transitioning his responsibilities and will continue to serve as Secretary and join the Board as a non-independent director. In exchange for his resignation, Freudenthaler will receive an agreed hourly rate for transitional work, medical insurance through March 31, 2024, and full vesting of his incentive stock options. Concurrently, Freight Technologies appointed Donald Quinby as the new CFO under an employment agreement effective until January 18, 2025, with automatic one-year extensions unless notice is given. Quinby will receive an annual salary of $250,000 and is eligible for a performance-based discretionary bonus. He brings extensive experience from previous finance roles at public companies, including Nextracker Inc. and Flex, and holds an MBA and a CFA charter. The company filed the Resignation Agreement, Board Services Agreement, and CFO Employment Agreement as exhibits to the Current Report on Form 6-K.

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