Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(a) Departure of Directors or Certain Officers.
On October 1, 2020, Harmel S. Rayat notified RenovaCare, Inc. (the
"Company") by letter that he would resign as a member of the Board of Directors
(the "Board") and as Chairman of the Board effective October 1, 2020. Mr. Rayat
advised the Company that his resignation was not due to any disagreements
between him and the Company on any matter relating to the Company's operations,
policies or practices. The Board accepted Mr. Rayat's resignation at a special
meeting thereof held on October 1, 2020.
In accordance with the requirements of Item 5.02 of Form 8-K, the
Company has provided Mr. Rayat with a copy of the disclosures that it is making
in response to this Item 5.02 no later than the date of filing this Form 8-K
with the SEC and will provide Mr. Rayat with the opportunity to furnish the
Company, as promptly as possible, with a letter addressed to the Company stating
whether Mr. Rayat agrees with the statements made by the Company in response to
this Item 5.02 and, if not, stating the respects in which he does not agree.
On October 1, 2020, the Board elected Alan L. Rubino, the Company's
President and Chief Executive Officer and member of the Board, to also serve as
the Company's Chairman of the Board, until his successor shall have been duly
elected or his earlier resignation or removal.
Item 7.01. Regulation FD Disclosure.
The Company issued a press release on October 5, 2020 announcing the director
resignation described in Item 5.02(a) above. The press release making this
announcement is attached hereto as Exhibit 99.1 and is incorporated herein by
reference.
The information in this Item 7.01 and the exhibit attached hereto shall
not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act
of 1934, as amended (the "Exchange Act"), or otherwise subject to the
liabilities of that section, nor shall it be deemed incorporated by reference in
any filing under the Securities Act of 1933, as amended, or the Exchange Act,
regardless of any general incorporation language in such filing.
Item 9.01. Financial Statements and Exhibits.
Number Description
17.1 Resignation Letter dated October 1, 2020 from Mr. Harmel S. Rayat.
17.2 Supplemental Letter dated October 1, 2020 from Mr. Harmel S. Rayat.
99.1 Press Release dated October 5, 2020 titled: RenovaCare Elects Alan L.
Rubino to Chairman of the Board of Directors
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses