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)
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