UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Effective as of September 1, 2023, the Board of Directors (the “Board”) of 374Water Inc. (the “Company”) appointed Jeff Quick as Interim Chief Executive Officer (“CEO”) of the Company. In connection with the appointment of Mr. Quick, Yacoov Nagar, the CEO and Chairman of the Board will transition out of his role as CEO and into the role of Technology Principal. Mr. Nagar will continue as the Chairman of the Board. Mr. Nagar will report to Mr. Quick in his new Technology Principal role.
Mr. Quick, 52, has served as the Company’s General Counsel since June 16, 2022. Since 2003, Mr. Quick has been the principal of Quick Law Group, a law firm focusing on private and public company corporate and securities law. From November 2021 and prior to assuming the role of General Counsel, Mr. Quick served as the Company’s outside legal counsel. Mr. Quick currently receives an annual base salary of $80,000 and will not receive any additional compensation, at this time. Mr. Quick has no familial relationships with the Company and there have been no reportable related party transactions between the Company and Mr. Quick.
Item 7.01 Regulation FD Disclosure.
On September 1, 2023, the Company issued a press release announcing Mr. Quick’s appointment as Interim CEO. The press release is attached hereto as Exhibit 99.1 and incorporated into this Item 7.01 by reference.
The information in this Item 7.01, including Exhibit 99.1 attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act except as expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
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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.
Dated: September 5, 2023 |
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| /s/ Israel D. Abitbol |
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| Israel D. Abitbol |
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| Chief Financial Officer |
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