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

On September 22, 2020, Board of Directors (the "Board") of Document Security Systems, Inc., a New York corporation (the Company") approved an increase of the Board size from seven to eight members and appointed Mr. Chan Tung Moe to fill the vacancy created by the increase in the Board size.

Mr. Chan Tung Moe currently serves as Group Chief Development Officer of Singapore Exchange-listed Alset International Limited, overseeing the company's global property business, and as Vice President and Director of Corporate Development of American Medical REIT Inc., positions he has held since August 2020. He also serves as Co-Chief Executive Officer and Director of LiquidValue Development Inc. (f.k.a SeD Intellgient Home Inc.)(USA), a company he joined in 2017, and as Director and Chief Executive Officer (International) of Alset IHome Inc. (f.k.a. SeD Home & REITs Inc.)(USA) a company he joined in 2015. Mr. Chan Tung Moe previously served as Chief Executive Officer of Pop Motion Consulting Pte Ltd. (Singapore) from 2018 to 2020. Prior to that, in 2015 he was Group Chief Operating Officer of Hong Kong Stock Exchange listed Zensun International Limited where he was responsible for the company's global business operations consisting of REIT ownership and management, property development, hotels and hospitality, as well as property and securities investment and trading. Within the past five years, Mr. Chan Tung Moe has served as a director of MasterCard issuer Xpress Finance Limited as well as RSI International Systems Inc., which was a hotel software company listed on the Toronto Stock Exchange.

He holds a Master's Degree in Business Administration with honors from the University of Western Ontario, a Master's Degree in Electro-Mechanical Engineering with honors and a Bachelor's Degree in Applied Science with honors from the University of British Columbia.

There is no arrangement or understanding with Mr. Chan Tung Moe and any other person pursuant to which he was elected as a director of the Company. Mr. Chan Tung Moe is the son of Heng Fai Ambrose Chan, the Company's principal shareholder and Chairman of the Board of the Company, and he is not a party to a related party transaction within the meaning of Item 404(a) of Regulation S-K.

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