UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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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. |
On October 4, 2021, the Board of Directors (“Board”) of Ballantyne Strong, Inc. (the “Company”) appointed Michael Clark Mitchell and Larry G. Swets, Jr., to serve as directors of the Company. The appointments bring the number of directors for the Company to seven. There are no arrangements or understandings between either Mr. Mitchell or Mr. Swets and the Company or any other persons pursuant to which either Mr. Mitchell or Mr. Swets was selected as a director. There are no family relationships between either Mr. Mitchell or Mr. Swets and any of our directors or executive officers. Other than as set forth herein, neither has any direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K. Mr. Swets founded and serves as the managing member of Itasca Financial, LLC (“Itasca Financial”), which provided services related to the strategic direction of the Company. On May 19, 2020, the Company entered into a Financial and Consulting Services Agreement with Itasca Financial. During the year ended December 31, 2020, the Company paid $130,000 to Itasca Financial. The Financial and Consulting Services Agreement with Itasca Financial has since been terminated by agreement of the Company and Itasca Financial. Messrs. Mitchell and Swets will each participate in the Company’s standard non-employee director compensation program described in Amendment No. 1 to the Company’s annual report on Form 10-K/A filed with the SEC on April 28, 2021.
| Item 7.01 | Regulation FD Disclosure. |
On October 6, 2021, the Company issued a press release regarding the appointment of Messrs. Mitchell and Swets as directors, which is attached hereto as Exhibit 99.1.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit No. | Description | |
| 99.1 | Press Release, dated October 6, 2021, issued by the Company. | |
| 104 | Cover Page Interactive Data File (embedded within Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| BALLANTYNE STRONG, INC. | ||
| Date: October 6, 2021 | By: | /s/ Todd R. Major |
| Todd R. Major | ||
| Chief Financial Officer | ||