Item 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.





Compensation Change


As previously announced, as part of a series of measures taken by PASSUR Aerospace, Inc. (the "Company") in response to the global economic challenges and uncertainties attributable to the coronavirus (COVID-19) pandemic, on April 27, 2020, the Compensation Committee (the "Compensation Committee") of the Board of Directors of the Company had approved certain temporary reductions in annual base salary for certain of the Company's executive officers. In particular, the annual base salary of Brian G. Cook, the Company's Chief Executive Officer and director, was temporarily reduced from $325,000 to $243,750.

Despite the unprecedented adverse impact of the pandemic on the aviation industry, under Mr. Cook's leadership, the Company has successfully recorded three consecutive quarters of operating profit. In recognition of this strong financial performance, the Compensation Committee has approved restoration of Mr. Cook's annual base salary to $325,000, which is the amount specified in his employment agreement. The foregoing restoration of Mr. Cook's annual base salary is effective as of April 28, 2021.

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