Current Report Filing (8-k)
26 March 2022 - 8:05AM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date
of Report (Date of earliest event reported): March 21, 2022
TARONIS
FUELS, INC.
(Exact
name of registrant as specified in its charter)
Delaware |
|
000-56101 |
|
32-0547454 |
(State
or other jurisdiction
of
incorporation) |
|
(Commission
File
Number) |
|
(IRS
Employee
Identification
No.) |
24980
N. 83rd Avenue, Suite 100
Peoria,
AZ 85383
(Address
of principal executive offices) (Zip Code)
(866)
370-3835
Registrant’s
telephone number, including area code:
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (see General Instruction A.2. below):
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
None |
|
N/A |
|
N/A |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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.
On
March 21, 2022, Taronis Fuels, Inc. entered into an employment agreement (the “Employment Agreement”) with Jered Ruyle, its
President and Chief Executive Officer. The Employment Agreement provides for, among other things: (i) an annual base salary of $250,000;
(ii) participation in the Company’s annual performance incentive programs, including a target bonus of 80% of annual base salary
based on the achievement of performance objectives; (iii) eligibility for equity awards under the Company’s equity incentive plans,
with a target grant date fair value of awards each year in the amount of 100% of annual base salary; and (iv) participation in the Company’s
benefit plans. The Employment Agreement also provides that upon a termination by the Company other than for “cause” or if
Mr. Ruyle resigns for “good reason,” the Company will pay Mr. Ruyle an amount equal to 12 months of base salary and continued
medical coverage for up to 12 months.
The
foregoing description of the Employment Agreement is not complete and is qualified in its entirety by the full text of the Employment
Agreement, a copy of which is attached to this Current Report on Form 8-K as Exhibit 10.1 and incorporated by reference herein.
Item
9.01 Financial Statements and Exhibits.
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:
March 25, 2022 |
TARONIS FUELS, INC. |
|
|
|
|
By:
|
/s/
Jered Ruyle |
|
Name: |
Jered
Ruyle |
|
Title: |
President
and Chief Executive Officer |
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