ITEM 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On January 4th, 2021, Netcapital Inc. (the "Company") elevated Carole Murko,
CFA, age 59, to the position of Chief Marketing Officer. Ms. Murko is a
Chartered Financial Analyst who spent nearly 20 years in the financial services
industry with her primary focus on marketing complex equity and fixed income
strategies to the institutional marketplace for PCM International, State Street
Global Advisors and Independence Investments. She has an AB in Economics from
Smith College and an MA in International Economics from NYU.
Ms. Murko's principal occupation and employment during the past five years was
as Membership Director for The Westmoor Club, a private field club on Nantucket.
The Westmoor Club is neither a parent, subsidiary or affiliate of the
registrant.
On March 10, 2020, the Company entered into an employment agreement with Ms.
Murko. The agreement calls for the vesting of 12,500 shares of the Company's
common stock on a monthly basis over a four-year period so long as Ms. Murko
continues to provide services to the Company.
This summary is qualified in its entirety by reference to the full text of Ms.
Murko's employment agreement, which is attached hereto as Exhibit 10.1 and
incorporated by reference herein.
Ms. Murko has no family relationship with any director or officer of the
Company.
The company's former Chief Marketing Officer, Kathryn Kraysler, will remain as
an advisor and consultant to the company. Kathryn Kraysler is the sister of the
Company's Chief Financial Officer, Coreen Kraysler.
The vesting of a stock grant referred to in an agreement between the Company and
Kathryn Kraysler will remain in effect so long as Ms. Kraysler continues to
perform services for the Company. The agreement calls for the issuance of up to
2,500 shares of the Company's common stock that vests on a quarterly basis over
a four-year period. As of the close of our last quarterly period ended October
31, 2020, Ms. Kraysler earned 1,563 shares of the grant of common stock, and 937
shares were unearned. The unearned shares can be earned over the next six
quarters at a rate of 156 shares per quarter.
Item 9.01 Financial Statements and Exhibits.
(c) Exhibits.
Number Documents
10.1 Employment Agreement dated March 10, 2020
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NETCAPITAL INC. 
