Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 16, 2022, Mr. Benjamin Chung resigned as Chief Financial Officer of
GreenBox POS (the "Company"), effective immediately.
On August 16th, Mr. J. Drew Byelick was appointed the Company's Chief Financial
Officer, effective immediately.
Mr. Byelick, 65, had been employed by the Company as Senior Vice President
Finance since June 2022. In 2021, Mr. Byelick was Chief Financial Officer of
Aero Components, LLC, a manufacturer of structural aircraft parts for DOD and
other U.S. OEMs. From 2015 to 2019, Mr. Byelick held multiple roles at AZZ Inc.,
a $1 billion global provider of metal coatings, welding services, and engineered
electrical equipment serving a broad scope of industries and applications. Mr.
Byelick's last position at AZZ Inc. was Vice President, Chief Accounting
Officer. Mr. Byelick has a BS in Accounting from Lehigh University and an MBA
from Fordham University and is a licensed CPA.
There is no arrangement or understanding between Mr. Byelick and any other
person pursuant to which he was selected to serve as Chief Financial Officer of
the Company. Mr. Byelick does not have any family relationships with any of the
Company's executive officers or directors, and, other than being paid $61,000
for serving as the Company's SVP Finance since June 2022, Mr. Byelick does not
have any direct or indirect material interest in any transaction or proposed
transaction required to be reported under Item 404(a) of Regulation S-K.
In connection with Mr. Byelick's appointment as Chief Financial Officer, the
Compensation Committee of the Board determined that Mr. Byelick would receive an
annual base salary of $275,000. In addition, on the 90th day following his start
date, Mr. Byelick will receive a signing bonus in the form of a grant of 20,000
shares of the Company's common stock ("Common Stock") under the Company's 2021
Restricted Stock Plan. These shares will fully vest in March 2023. Furthermore,
Mr. Byelick will be eligible to receive a maximum of 50,000 shares of Common
Stock semi-annually based on the Company's annual earnings performance, as well
as benefits as are generally made available to other senior executives of the
Company.
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses
RYVYL INC. 
