PASSUR AEROSPACE, IN

PSSR
Delayed Quote. Delayed  - 11/26 10:30:36 am
0.55USD -15.38%

PASSUR AEROSPACE, INC. : Change in Directors or Principal Officers (form 8-K)

04/30/2021 | 03:24pm

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.



--------------------------------------------------------------------------------

© Edgar Online, source Glimpses

© Acquiremedia 2021
Copier lien
All news about PASSUR AEROSPACE, INC.
10/04
10/01
09/22
09/22
09/14