UNITED
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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. |
Appointment of Chief Operating Officer
On January 13, 2023, the Board of Directors of Innovative Eyewear, Inc., (the “Company”) authorized the appointment of Jaoquin Abondano to the position of Chief Operating Officer of the Company, effective as of January 1, 2024.
Below is Joaquin Abondano’s biography:
Joaquin. Abondano, age 40, was the Vice President of E-Commerce and Supply Chain Operations of the Company since January 1, 2023 prior to his promotion to Chief Operating Officer. In this position, he had an instrumental role in driving the Company’s sales on Shopify (an online e-commerce platform) and expanding market presence across Amazon and overseeing significant digital marketing initiatives which have established him as an important part of the senior management team. Prior to joining the Company, Mr. Abondano held the position of Vice President of Product and Logistics, at AMZ Tonal, Inc., a consumer services company, from June 2021 to January 2023, in which position he oversaw the launch of AMZ’s brands on Amazon and the implementation of custom software solutions. Prior to joining AMZ, from January 2009 to June 2021, Mr. Abondano co-founded and maintained a position as Vice President of Product Management at Groovy Toys LLC, a retail toy company, where he oversaw the company’s expansion into the US market, the development of its consumer products, including mobile apps and online games, and the growth of the company’s digital footprint. Mr. Abondano obtained a bachelor’s degree in management finance from Purdue University in 2006.
As compensation for his services, the Company shall pay Mr. Abondano a base salary of $140,000 per year. Mr. Abondano shall also have the right to receive a cash bonus of $30,000 at the end of any fiscal quarter in which the Company achieves $1,000,000 or more in E-commerce revenue. Mr. Abandano was also granted options to purchase 130,000 shares of common stock of the Company. In the event Mr. Abandano’s employment with the Company shall terminate, unless by termination for cause, Mr. Abandano’s options will fully vest and he shall be entitled to receive 15 days salary.
| Item 8.01 | Other Events. |
On January 3, 2024, the Company entered into a multi-year non-exclusive licensing agreement with IngenioSpec LLC, (the “License Agreement”) covering multiple smart eyewear patents. Pursuant to the License Agreement, the Company will add licenses for 46 new patents to its current portfolio of 63 owned and licensed patents and applications.
The Company issued a press release announcing the entrance into the License Agreement, which has been filed as Exhibit 99.1, to this Current Report on Form 8-K.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit No. | Description | |
| 99.1 | Press Release dated January 5, 2024. |
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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.
| Date: January 5, 2024 | INNOVATIVE EYEWEAR, INC. | |
| By: | /s/ Harrison Gross | |
| Harrison Gross | ||
| Chief Executive Officer | ||
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