Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On August 26-27, 2026, Lantronix, Inc. (the "Company") entered into amendments to its agreements with its Chief Executive Officer, Saleel Awsare; its Chief Revenue Officer, Kurt Hoff; and its Chief Product & Strategy Officer, Mathi Gurusamy, as follows: Mr.…
Filed Aug 27, 2026Accepted Aug 27, 2026, 4:54 PM EDTCIK 1114925Accession 0001683168-26-006750
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Item 5.02Item 5.02 - Departure/Election of Directors
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers.
On August 26-27, 2026, Lantronix, Inc.
(the "Company") entered into amendments to its agreements with its Chief Executive Officer, Saleel Awsare; its Chief Revenue
Officer, Kurt Hoff; and its Chief Product & Strategy Officer, Mathi Gurusamy, as follows:
Mr. Awsare’s Employment Agreement,
dated October 31, 2023, has been amended to increase his annual base salary to $550,000 USD, effective as of August 1, 2026.
Mr. Hoff’s Offer Letter, dated
February 23, 2024, has been amended to increase his annual base salary to $390,000 USD, effective as of August 1, 2026, and to provide
that the restriction on the severance provision of the agreement (which had provided for severance only upon a qualifying termination
within two years after Mr. Hoff’s start date with the Company) will no longer apply.
Mr. Gurusamy’s Offer Letter,
dated April 2, 2024, has been amended to increase his annual base salary to $390,000 USD, effective as of August 1, 2026, and to provide
that the restriction on the severance provision of the agreement (which had provided for severance only upon a qualifying termination
within two years after Mr. Gurusamy’s start date with the Company) will no longer apply.
The foregoing descriptions of the amendments
are a summary, do not purport to be complete and are qualified in their entirety by reference to the full texts of the amendments, which
are attached hereto as Exhibits 10.1-3 and are incorporated herein by reference.