Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(a) On March 13, 2023, Steven D. Rubin notified the Registrant of his intention
to resign as a director of Non-Invasive Monitoring Systems, Inc. effective
immediately. Mr. Rubin's resignation was not the result of any disagreement
with the Registrant on any matter relating to the Registrant's operations,
policies or practices.
(b) Effective March 13, 2023, the Registrant appointed Jerry Jacobs as a member
of the Board of Directors and the Audit Committee.
Jerry A Jacobs, 65, has served as the Executive VP of Investacorp Group Inc., an
independent financial services firm headquartered in Miami, FL since October
2007. Prior to that, Mr. Jacobs was a Regional Director at Investacorp Inc, in
Miami Lakes FL, assisting in fixed income trading and representative relations
and vendor relations. Investacorp Inc, then became part of Ladenburg Thalmann in
2007. In 2020, Ladenburg Thalmann was sold to a private equity group in a
transaction valued at approximately $1.3 billion. Mr. Jacobs currently holds
Securities Licenses series 7, 63, 66., as well as Florida Insurance licensed for
Health, Life, and Variable Annuities. In addition, he currently holds a Florida
Real Estate Sales Associate license. Mr. Jacobs holds a BS degree from Florida
State University.
As of the date hereof, there are no transactions between Mr. Jacobs and the
Registrant that would be reportable under Item 404(a) of Regulation S-K.
Consistent with the other members of the Board of Directors, Mr. Jacobs will not
receive any compensation for serving on the Board or the Audit Committee.
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