Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On April 21, 2023, the Company accepted the resignation of Yang Liu from the
position of Director of the Company. Mr. Liu's departure was not the result of
any disagreement related to any matter involving the Company's operations,
policies or practices.
On April 21, 2023, Trans-Lux Corporation announced the appointments of Marco
Elser and Jie Feng as Directors of the Company. Neither Mr. Elser or Mr. Feng
is a party to any transaction required to be disclosed pursuant to Item 404(a)
of Regulation S-K except with respect to (i) Mr. Elser, his position as
investment manager under which he exercises voting and dispositive power at
Carlisle Investments Inc, with whom the Company owes $1.0 million of loans and
$630,000 of accrued interest, and (ii) Mr. Feng, his employment with Unilumin,
the Company's largest stockholder. There are no arrangements or understandings
between Messrs. Elser and Feng and any other person pursuant to which such
individuals were selected as a director. Messrs. Elser and Feng will be
entitled to the compensation the Company offers its other non-employee directors
from time to time, including any annual retainers and equity compensation.
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