Form 8-K - Current report
02 Januar 2024 - 10:30PM
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2024-01-01
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): January 1, 2024 (December 29, 2023)
BTCS
INC.
(Exact
name of registrant as specified in its charter)
Nevada |
|
001-40792 |
|
90-1096644 |
(State or Other Jurisdiction
of Incorporation) |
|
(Commission
File Number) |
|
(I.R.S. Employer
Identification No.) |
9466
Georgia Avenue #124, Silver Spring, MD 20910
(Address
of Principal Executive Offices, and Zip Code)
(202)
987-8368
Registrant’s
Telephone Number, Including Area Code
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Common Stock, $0.001 par
value |
|
BTCS |
|
The Nasdaq Stock Market |
|
|
|
|
(The
Nasdaq Capital Market) |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405)
or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item
3.02 Unregistered Sales of Equity Securities.
The
information set forth in Item 5.02 below with respect to the issuance of shares of common stock and RSUs is incorporated by reference
in this Item 3.02. The issuance of the shares of common stock and RSUs was exempt from registration
pursuant to Section 4(a)(2) of the Securities Act of 1933 and Rule 506 of Regulation D promulgated thereunder.
Item
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers.
On
December 29, 2023, upon recommendation of the Compensation Committee of the Board of Directors of BTCS Inc. (the “Company”)
approved the following actions (or determinations) which are described below. These actions were approved effective January 1, 2024.
|
● |
a
4.5% inflationary increase in annual base salary for both Manish Paranjape, the Company’s Chief Technology Officer, and Michael
Prevoznik, the Company’s Chief Financial Officer for the calendar year ending 2024. |
|
|
|
|
● |
an
annual performance payout for fiscal year 2023, which was paid in shares of the Company’s common stock. Each officer was given
the option to settle the issuances to cover taxes and the table below details these issuances. |
Executive
Officer |
|
Total
Shares |
|
Shares
Withheld |
|
Net
Shares
Issued |
Charles
Allen (CEO) |
|
217,699 |
|
0 |
|
217,699 |
Michal
Handerhan (COO) |
|
83,536 |
|
18,378 |
|
65,158 |
Michael
Prevoznik (CFO) |
|
62,208 |
|
13,686 |
|
48,522 |
Manish
Paranjape (CTO) |
|
50,705 |
|
11,156 |
|
39,549 |
Total |
|
414,148 |
|
43,220 |
|
370,928 |
|
● |
granting
to each of Mr. Allen, Mr. Handerhan, Mr. Prevoznik, and Mr. Paranjape 50,000 RSUs on January 1, 2024 which vest annually in five
equal increments over a five-year period with the first vesting date of December 31, 2024, subject to continued employment on each
applicable vesting date. |
Item
9.01 Financial Statements and Exhibits
(d)
Exhibits.
Exhibit
No. |
|
Description |
|
|
|
104 |
|
Cover
Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
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.
|
BTCS INC. |
|
|
Date:
January 2, 2024 |
By: |
/s/
Charles W. Allen |
|
Name:
|
Charles
W. Allen |
|
Title: |
Chief
Executive Officer |
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