Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 16, 2021, Joel S. Friedman, an independent member of the Board of
Directors of Envela Corporation (the "Company") and the Chairman of the
Compensation Committee, resigned from the Board of Directors and agreed to
become the Company's Chief Information Officer ("CIO"), effective immediately.
Mr. Friedman did not advise the Company of any disagreement with the Company on
any matter relating to its operations, policies, practices or otherwise. Mr.
Friedman was also a member of the Audit and Compliance and Nominating
Committees. The Company is currently searching for a replacement to fill the
vacated independent position on the Board.
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