UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
Current Report
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| ITEM 5.02 | DEPARTURE OF DIRECTORS OF CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS |
(c) On December 30, 2022, the Psychemedics Corporation (the “Company”) appointed William Norris as Controller of the Company, to take effect as of January 1, 2023. In such capacity Mr. Norris, age 34, will serve as the Company’s principal financial and accounting officer, and will be responsible for all internal and external financial reporting activities, as well as the Company’s financial analysis and planning activities. He will report directly to the CEO. Mr. Norris has over 10 years of finance and accounting experience. Most recently, he served as Assistant Controller for the Company since August 2022 and as Accounting Manager for the Company from April 2021 until August 2022. From February 2020 until April 2021, he served as a Senior Accountant at Vicinity Energy, a clean energy company that owns and operates a portfolio of district energy systems. From 2016 to 2019, he served as an external auditor at Warren Averett, a public accounting firm. He received his bachelor’s degree in Accounting from Birmingham-Southern College, his MBA from Boston University, and is a Certified Public Accountant.
(e) Mr. Norris’s employment will be at will. He will receive a salary of $135,000 per year and it is expected that he will share in the Company’s cash performance bonus arrangements for executive officers and other employees beginning in 2023.
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.
| PSYCHEMEDICS CORPORATION | ||
| Dated: December 30, 2022 | ||
| By: /s/ Raymond C. Kubacki | ||
| Raymond C. Kubacki, | ||
| President and Chief Executive Officer |