Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers
Effective March 1, 2021, the Board of Directors of HyreCar Inc. (the "Company")
appointed Mr. Brian Allan as President of the Company. Mr. Allan previously
served as the Company's Senior Vice-President of Strategic Partnerships. In
addition, and also effective March 1, 2021, Ken Grimes was appointed as the
Company's Chief Technology Officer. Mr. Grimes previously served as the
Company's Vice-President, Technology.
In connection with Mr. Allan's appointment as President, his base salary was set
at the annual rate of $240,000, payable in accordance with the Company's
standard payroll schedule. Mr. Allan has, or is expected to, enter into an
agreement that imposes various restrictive covenants on Mr. Allan, with the
terms of that agreement to be similar to those entered into by other Company
executives.
In connection with Mr. Grimes' appointment as Chief Technology Officer, his base
salary was set at the annual rate of $200,000, payable in accordance with the
Company's standard payroll schedule. Mr. Grimes has, or is expected to, enter
into an agreement that imposes various restrictive covenants on Mr. Grimes, with
the terms of that agreement to be similar to those entered into by other Company
executives.
Brian Allan, age 58, has served as the Company's Senior Vice-President of
Strategic Partnerships since 2018. In that role Mr. Allan's duties included
leading the Company's dealer and strategic partnership initiatives. Prior to
joining the Company in 2018, Mr. Allan served as the Group General Manager at
Galpin Motors, a privately held automotive dealer. Mr. Allan began working at
Galpin Motors in 1985 in various roles and was promoted to Group General Manager
in 1995. Mr. Allan has also served on several original equipment manufacturer
dealer councils and advisory boards for automotive and technology firms.
Ken Grimes, age 38, has served as the Company's Vice-President, Technology since
early 2019. Prior to joining the Company in 2019 Mr. Grimes served as the
Manager for Mihrtec, LLC, and in that role he authored the company's operating
agreement, managed staff and lead R&D for distributed systems and game engines.
In total, Mr. Grimes has over 18 years' of experience serving as a manager and
systems engineer and his experience includes professional roles that focus on
modernizing legacy technology stacks with hyper-scale technologies, including
distributed systems, blockchain, and IoT. Mr. Grimes completed core curriculum
for BA Computer Science program at Texas Tech University June 2012, and BS
Computer Science program at University of Texas - Austin March 2015.
On February 24, 2021, the Company issued a press release announcing the
appointment of Mr. Allan as President and Mr. Grimes as Chief Technology
Officer. A copy of the press release is attached hereto as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
99.1 Press release issued by HyreCar Inc. on February 24, 2021
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