UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM
CURRENT REPORT
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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 February 18, 2023, the Board of Directors (the "Board") of SusGlobal Energy Corp. (the "Company") appointed Bruce Rintoul to the Board and to serve on the Corporate Governance and Nominating Committee and the Compensation Committee of the Board, effective immediately. On February 22, 2023, the Company issued a press release announcing Mr. Rintoul's appointment to the Board.
Mr. Rintoul's compensation for serving as a member of the Board and as a member of the two Board committees will be $25,000 per year in Canadian Dollars (approximately $18,300 USD per year based on the exchange rate as of February 24, 2023). The compensation is payable each December 31st in either, at the Company’s discretion, cash or shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”). If paid in shares, the price per share will be based on the average of the closing price of the Common Stock over the ten (10) trading days prior to December 31st. In addition, Mr. Rintoul will be issued one hundred thousand (100,000) shares of Common Stock prior to March 15, 2022.
There is no arrangement or understanding between Mr. Rintoul and any other person pursuant to which Mr. Rintoul was elected as a director. There are no family relationships between Mr. Rintoul and any director, executive officer or person nominated or chosen by the Company to become a director or executive officer of the Company within the meaning of Item 401(d) of Regulation S-K under the U.S. Securities Act of 1933, as amended ("Regulation S-K"). Since the beginning of the Company's last fiscal year, the Company has not engaged in any transaction in which Mr. Rintoul had a direct or indirect material interest within the meaning of Item 404(a) of Regulation S-K.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description |
| 99.1 | Press Release issued February 22, 2023 |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
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.
| SusGlobal Energy Corp. | ||
| Dated: February 24, 2023 | By: | /s/ Marc Hazout |
| Marc Hazout Executive Chairman, President and Chief Executive Officer |
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