Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangement of Certain Officers
On January 12, 2023, the Board of Directors (the "Board") of Cyren Ltd. (the
"Company") appointed Jeffrey Dauer as the Company's Chief Financial Officer and
Chief Accounting Officer. Prior to joining the Company, Mr. Dauer, 60 years old,
held the Chief Financial Officer and Chief Accounting Officer roles at Comstock
Homebuilding Companies and Chief Financial Officer at iControl Data Solutions
and Vice President of Finance at ID.me. Mr. Dauer holds a Bachelor's degree
from Kent State University and is also a Certified Public Accountant (inactive).
Mr. Dauer will be paid a rate of $175 per hour. Simulataneous, with the
appointment of Mr. Dauer, the Company terminated Brady Hayden as its Principal
Accounting Officer. Subject to his execution of a release, Mr. Hayden will be
entitled to certain rights and benefits associated with a termination without
cause.
There is no arrangement or understanding with any person pursuant to which Mr.
Dauer was appointed as Chief Financial Officer and Chief Accounting Officer, and
there are no family relationships between Mr. Dauer and any director or
executive officer of the Company. Additionally, there are no transactions
between Mr. Dauer and the Company and/or its subsidiaries that would be required
to be reported under Item 404(a) of Regulation S-K.
Item 9.01 Financial Statement and Exhibits.
(d) Exhibits.
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