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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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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On January 17, 2022, AgEagle Aerial Systems Inc. (the “Company”) and Brandon Torres Declet mutually agreed to Mr. Torres Declet’s resignation as Chief Executive Officer and as a director of the Company, effective immediately. Mr. Torres Declet resigned to pursue new career opportunities.
Mr. Barrett Mooney, the Company’s current Chairman of the Board of Directors (the “Board”), has been appointed to serve as the new Chief Executive Officer of the Company. Mr. Mooney will continue in his role as Chairman of the Board.
Mr. Mooney was appointed to the Board as its Chairman in May 2020. Most recently, Mr. Mooney was the Director of Digital Technology at Wilbur Ellis where he developed and implemented the technology strategy for the agribusiness and assisted with the diligence of technology acquisitions and investments for the global corporation. Mr. Mooney previously served as Chief Executive Officer of the Company from July 2018 through May 2020. Mr. Mooney brings an extensive track record of growing agriculture and sustainability businesses. From May 2017 to July 2018, he served as Group Product Lead for The Climate Corporation, a subsidiary of Monsanto (recently acquired by Bayer), where he led the satellite imagery team, managed a team focused on using artificial intelligence to enhance crop yield production, and introduced a new organizational structure to improve sales efficiency. Prior to The Climate Corporation, from July 1, 2012 to May 1, 2017, Mr. Mooney co-founded and was CEO and president of HydroBio, a software company that used satellite-driven image analytics to conserve water and maximize crop yields. In May 2017, he sold HydroBio to The Climate Corporation. Mr. Mooney holds a Doctor of Philosophy in Agricultural and Biological Engineering from the University of Florida. He is also a member of the American Society of Agricultural and Biological Engineers.
There is no arrangement or understanding between Mr. Mooney and any other person pursuant to which Mr. Mooney was appointed as Chief Executive Officer of the Company, and Mr. Mooney has not had an interest in any transaction since the beginning of the Company’s last fiscal year, or any currently proposed transaction, that requires disclosure pursuant to Item 404(a) of Regulation S-K. There are no family relationships among any of our directors or executive officers and Mr. Mooney
The Compensation Committee of the board of directors will make recommendations with respect to Mr. Mooney’s new employment agreement and compensation. The Company will file a subsequent Current Report on Form 8-K to disclose such new arrangements.
| Item 7.01. | Regulation FD |
On January 18, 2022, the Company issued a press release announcing Mr. Torres Declet’s resignation and the appointment of Mr. Mooney as Chief Executive Officer. The press release is attached to this Current Report on Form 8-K as Exhibit 99.1.
The information in this Item 7.01 and Exhibit 99.1 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 a filing.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit No. | Description | |
| 99.1 | Press Release, dated January 18, 2022 |
| 2 |
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.
| AGEAGLE AERIAL SYSTEMS, INC. | ||
| By: | /s/ Nicole Fernandez McGovern | |
| Name: | Nicole Fernandez McGovern | |
| Title: | Chief Financial Officer | |
| Dated: January 21, 2022 | ||
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