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Subsequent Events
3 Months Ended
Mar. 31, 2025
Subsequent Events [Abstract]  
Subsequent Events

Note 20. Subsequent Events

 

The Company has evaluated events and transactions subsequent to March 31, 2025 through the date the unaudited condensed consolidated financial statements were issued. Except as disclosed in the unaudited condensed consolidated financial statements previously and items below, there are no other events to report:

 

On April 28, 2025, James H. Dennedy, Chief Financial Officer of the Company, informed the Company of his intention to resign from his position, effective June 6, 2025. Mr. Dennedy will remain with the Company until the Resignation Date to assist with the transition of his responsibilities. The Company plans to conduct an executive search for a new Chief Financial Officer. In the interim, the Board of Directors has appointed Terrance Mendez, Chief Executive Officer of the Company, as interim Chief Financial Officer, effective as of the Resignation Date.

 

On May 2, 2025, Karl Racine informed the Company of his decision to resign from his role as a director and as a member of the Board of Directors’ Nomination and Governance Committee, effective immediately. Mr. Racine’s resignation was due to personal reasons and was not a result of any disagreement with the Company concerning its operations, policies, or practices.

 

On May 2, 2025, the Board of Directors appointed Francis A. Braun III as a Class I director. Mr. Braun will receive compensation for his Board and committee service in accordance with the Company’s outside director compensation program, prorated for any partial years of service. Also, effective from May 21, 2025, Mr. Braun will begin serving as the audit committee chair.

 

On May 15, 2025, Jennifer Meyers notified the Company of her decision to resign from her position as a director of the Company effective immediately. Ms. Meyers’ resignation from the Company was for personal reasons and is not a result of any disagreement with the Company on any matter relating to the operations, policies or practices of the Company.

 

On May 15, 2025, Douglas Fagan notified the Company of his decision to resign from his position as a director of the Company effective immediately. Mr. Fagan’s resignation from the Company was for personal reasons and is not a result of any disagreement with the Company on any matter relating to the operations, policies or practices of the Company.

 

On May 16, 2025, Jonathan Summers informed the Company of his decision to not stand for re-election as a director of the Company. As a result, Mr. Summers’ term as an independent director will end at the next Annual Meeting of the Company’s stockholders. Mr. Summers’ decision to not stand for re-election was for personal reasons and is not a result of any disagreement with the Company on any matter relating to the operations, policies or practices of the Company.