MDWerks, Inc. (OTCMKTS:MDWK) recently filed a Form 8-K with the Securities and Exchange Commission, announcing the expansion of its Board of Directors to five members. The company, based in Delaware, revealed that the board, previously comprised of four directors, had been increased to include Richard Blackstone as an independent director.
According to the filing, Richard Blackstone was appointed to the Board on December 3, 2024, following the creation of a new vacancy due to the board’s expansion. Mr. Blackstone, recognized as an accomplished music industry veteran, will serve as an independent director at MDWerks, abiding by applicable SEC rules and Nasdaq listing standards.
In remuneration for his services, Mr. Blackstone is set to receive $5,000 quarterly, with an issuance of 100,000 shares of common stock upon employment, subject to the company’s equity incentive plan terms. Additionally, Mr. Blackstone will be reimbursed for reasonable out-of-pocket expenses incurred in the course of his duties.
The agreement stipulates that any controversies between Mr. Blackstone and MDWerks will be resolved through arbitration in Henderson County, North Carolina, with litigations, if necessary, to be conducted applying Delaware State laws. The filing further disclosed that the company issued a press release on December 6, 2024, regarding Mr. Blackstone’s appointment to the Board of Directors.
The information provided in the Form 8-K filing, including the Independent Director Agreement (Exhibit 10.1) and the press release (Exhibit 99.1), serves to inform interested parties about the recent developments at MDWerks. The company has cautioned that the details disclosed shall not be considered as filed for purposes of the Securities Exchange Act of 1934, nor shall they be deemed incorporated in future filings unless specifically referenced.
Investors and stakeholders can access the complete Form 8-K filing on the Securities and Exchange Commission’s website for additional details regarding the appointment and terms agreed upon between MDWerks and Richard Blackstone.
This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read MDWerks’s 8K filing here.
About MDWerks
MDWerks, Inc, together with its subsidiaries, provides energy waving technologies in the United States. The company offers green and radio wave technologies. It also produces and sells alcoholic beverages, including whiskey and vodka. In addition, the company develops radio frequency applications. It serves structural engineering, food and beverage, alcoholic beverages, manufacturing, and adhesives industries.
Further Reading
- Five stocks we like better than MDWerks
- 10 Best Airline Stocks to Buy
- Lululemon Surges On Q3 Report: Analysts Step in To Support Market
- 3 REITs to Buy and Hold for the Long Term
- 10 Safe Investments with High Returns
- What Are the FAANG Stocks and Are They Good Investments?
- 3 Utility Stocks That Will Benefit from Less Regulation