Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 21, 2021, the Compensation Committee (the "Compensation Committee")
of the Board of Directors of Resonant Inc. and, in the case of George Holmes,
our Board of Directors, approved increases in the annual base salaries payable
to our executive officers, including George Holmes, Martin McDermut and Dylan
Kelly, our Chief Executive Officer, Chief Financial Officer and Chief Operating
Officer, respectively, who are our named executive officers, in the amounts set
forth opposite their names below. Such increases became effective on January 23,
2021.
Executive Old Annual Base Salary New Annual Base Salary
George Holmes $400,000 $425,000
Martin McDermut $307,340 $314,716
Dylan Kelly $285,000 $300,000
On January 21, 2021, the Compensation Committee awarded restricted stock units
("RSUs") under the Resonant Inc. Amended and Restated 2014 Omnibus Incentive
Plan to our employees, including Messrs. Holmes, McDermut and Kelly in the
amounts set forth opposite their names below. Such RSUs will vest in four equal
annual installments on December 1, 2021, 2022, 2023 and 2024, provided the
recipient remains employed with us until the vesting date. The RSU award to Mr.
Holmes was approved by our Board of Directors upon the recommendation of the
Compensation Committee.
Executive Number of RSUs
George Holmes 154,440
Martin McDermut 47,333
Dylan Kelly 46,216
On January 21, 20210, the Compensation Committee approved quarterly and annual
bonus awards to our employees, including Messrs. Holmes, McDermut and Kelly,
pursuant to our 2020 Incentive Bonus Program for their performance during the
fourth quarter and fiscal year ended December 31, 2020. The bonus awards were
paid in cash, in the amounts set forth opposite their names below. The bonus
award to Mr. Holmes was approved by our Board of Directors upon the
recommendation of the Compensation Committee.
Executive Bonus Amount
George Holmes $ 100,000
Martin McDermut $ 35,744
Dylan Kelly $ 48,940
2
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses
RESONANT INC. 
