Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On September 13, 2021, Mr. Bernhard Bruscha notified Lantronix, Inc. (the
"Company") of his decision not to stand for re-election at the Company's 2021
annual meeting of stockholders (the "Annual Meeting"). Mr. Bruscha's decision
not to stand for re-election at the Annual Meeting was not a result of any
disagreement with the Company on any matter relating to the Company's
operations, policies or practices.
Item 7.01 Regulation FD Disclosure.
On September 15, 2021, the Company issued a press release announcing Mr.
Bruscha's decision not to stand for re-election at the Annual Meeting as
disclosed above under Item 5.02. The press release also announced the Company's
creation of an Advisory Board to, among other things, enhance the Company's
strategic development and acquire additional expertise of industry leaders. Mr.
Bruscha has agreed to serve as the Advisory Board's first member and chair
effective immediately following the Annual Meeting. In addition, the Company
announced that it intends to select Dr. Heidi Nguyen as a nominee for election
by stockholders at the Annual Meeting. Dr. Nguyen, as Vice President of TL
Investment, GmbH, is expected to continue to represent TL Investment, GmbH as a
continuing major stockholder of the Company. A copy of the press release is
attached hereto as Exhibit 99.1 and is incorporated herein by reference.
In accordance with General Instruction B.2 of Form 8-K, the information
furnished under this Item 7.01, including Exhibit 99.1, shall not be deemed to
be "filed" for purposes of Section 18 of the Securities Exchange Act of 1923, as
amended (the "Exchange Act"), or otherwise subject to the liabilities of that
section, and shall not be incorporated by reference into any registration
statement or other document filed under the Securities Act of 1933, as amended,
or the Exchange Act, except as shall be expressly set forth by specific
reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit
Number Description
99.1 Press Release, dated September 15, 2021
104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
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