Item 2.02. Results of Operations and Financial Condition.
On
Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
The Company announced a 40% deferral in the base salary for each of the
Company's named executive officers,
Item 8.01 Other Events. Business Update
In addition to the deferrals noted in Item 5.02, the Company also announced
several other cost reduction initiatives in response to the deterioration of the
COVID-19 pandemic and the related impact on its business, including (i) an
additional reduction of the Company's workforce resulting in a total decrease of
43% for the year, (ii) a 20% deferral in the base salaries of certain
non-executive officers of the Company, (iii) a 40% deferral in fees to be paid
to the independent directors on the
A copy of the press release making this announcement, and announcing the changes in the salaries of the named executive officers, is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Exhibit Number Description 99.1 Press release issued onOctober 29, 2020 .*
* Furnished herewith.
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