ClearOne : Management Change/Compensation - Form 8-K
March 04, 2024 at 06:02 am EST
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 27, 2024, the Board of Directors (the "Board") of ClearOne, Inc. (the "Company"), appointed Jayashree Raghunathan as the Company's interim Chief Financial Officer to serve as the Company's principal financial officer and principal accounting officer on an interim basis. Ms. Raghunathan joined the Company as a Senior Manager in July 2018 and has served as the Company's Controller since October 2019. Ms. Raghunathan, age 53, has been a Chartered Accountant in India since 1996 and has over twenty years of work experience in the field of accounting. There is no arrangement between Ms. Raghunathan and any other persons in connection with Ms. Raghunathan's appointment as interim Chief Financial Officer, and Ms. Raghunathan has no family relationship with any director or executive officer of the Company. Ms. Raghunathan has no direct or indirect material interest in any transaction with the Company that is reportable under Item 404(a) of Regulation S-K, nor have any such transactions been proposed.
In connection with her appointment as interim Chief Financial Officer, the Board of Directors approved an annual base salary for Ms. Raghunathan of 4,904,400 Indian Rupees (INR) which is approximately $59,170. Pursuant to the Company's certificate of incorporation and bylaws, the Company also has agreed to indemnify Ms. Raghunathan to the fullest extent permitted by applicable law with respect to any claims, actions, suits or proceedings, whether civil, criminal, administrative or investigative, by reason of the fact that she is or was an officer of the Company.
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ClearOne, Inc. is a global company enabling conferencing, collaboration, and network streaming solutions. The Company designs, develops and sells conferencing, collaboration and network streaming solutions for voice and visual communications. The Company's products are categorized into Audio conferencing, Professional microphones, and Video products. Audio conferencing includes installed DSP based professional audio conferencing, universal serial bus (USB)-based speakerphones and table-top audio conferencing. Professional microphones consist of patented beamforming microphones, ceiling microphones and wireless microphones. Video products include video collaboration and audio-visual networking. Its professional conferencing products include the CONVERGE Pro 2 and CONVERGE Pro 2 SR product lines. Media Collaboration suite of products is led by its comprehensive portfolio of COLLABORATE branded video conferencing and collaboration solutions.