UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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FORM
CURRENT REPORT
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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. |
Bill Korn will join CareCloud’s Board of Directors and will resign as Chief Strategy Officer of the Registrant, effective October 6, 2023. Mr. Korn’s resignation is not a result of any disagreement with the Registrant or its Board or management relating to the Registrant’s operations, policies or practices or any issues regarding its accounting policies or practices.
On October 5, 2023, pursuant to a Unanimous Written Consent in lieu of a Meeting of the Board of Directors (“Board”), the Board, upon the recommendation of its Nominating and Governance Committee, elected Bill Korn to serve as a Class II Director of the Company, effective as of October 9, 2023. Mr. Korn will serve as a director until the Company’s 2025 annual meeting of stockholders and thereafter until his successor is duly elected and qualified or until his earlier death, resignation or removal. The Board has determined that effective upon the commencement of Mr. Korn’s term as a director, the size of the Registrant’s Board shall be increased from six directors to seven directors. .
Mr. Korn will be compensated in accordance with the Company’s standard compensation policies and practices for the Board, the components of which were disclosed in the Company’s definitive proxy statement on Schedule 14A filed with the Securities and Exchange Commission on April 3, 2023.
Except as described above, there are no arrangements or understandings between Mr. Korn and any other person pursuant to which he was elected as a director of the Company, nor are there any transactions involving Mr. Korn requiring disclosure under Item 404(a) of Regulation S-K.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
CareCloud, Inc.
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| Date: October 10, 2023 | By: |
/s/ A. Hadi Chaudhry |
A. Hadi Chaudhry | ||
| Chief Executive Officer | ||
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