Item 5.02 Departure of Directors or Certain Officers.
On July 21, 2021, David D. Smith, the Chief Financial Officer of Koss
Corporation ("Koss" or the "Company"), informed the Company that he plans to
retire effective February 28, 2022. Mr. Smith expects to continue to be employed
by Koss through February 28, 2022 to continue in his current role and to support
and assist with the transition of his responsibilities to his successor. Mr.
Smith has served as the Company's Chief Financial Officer since January 2010.
Mr. Smith's decision to retire is not due to any disagreement concerning the
Company's financial statements, policies or practices.
"We were fortunate to retain Dave for the last several years knowing he has had
a developing interest in retiring," Michael J. Koss, Chairman and CEO said
today. "Dave is a terrific part of the team. We'll miss him when he retires
next year."
The Company is currently in the process of succession planning to succeed Mr.
Smith as the Chief Financial Officer.
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