Company: AWRE
Filing Date: 2025-03-17
Form Type: 8-K
Source: 0000950170-25-040214
Chunk: 0

Company: AWARE INC /MA/
Filing Date: 2025-03-17
Form: 8-K
Item: Item 1.01
Chunk 0
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ITEM 1.01

ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

ITEM 5.02. DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS, ELECTION OF DIRECTOR; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.

On March 13, 2025, Aware and Ajay K. Amlani, Aware’s President and Chief Executive Officer, entered into an Amendment to Employment Agreement (the “ Amendment”). Pursuant to the Amendment, Mr. Amlani and Aware agreed that Mr. Amlani’s base salary for the period from March 16, 2025 through December 31, 2025 will be paid 20% in cash and 80% in restricted stock units of the Company. Accordingly, on March 13, 2025, Aware granted Mr. Amlani an award of restricted stock units with a grant date fair value of $253,333 and representing the right to receive 166,229 shares of common stock of Aware. Such restricted stock units will vest in nine equal monthly installments on the 16th day of each month with the first vesting to occur on April 16, 2025 and with the final vesting to occur on December 16, 2025.

A copy of the Amendment is attached as Exhibit 10.1 to this Report. The foregoing summary of the Amendment is qualified in its entirety by reference to the Amendment.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.

No financial statements are required to be filed as part of this Report. The following exhibits are filed as part of this report:

(d) EXHIBITS.

  Number      Description                                                                                                  
    10.1      Amendment to Employment Agreement dated as of March 13, 2025 by and between Aware, Inc. and Ajay K. Amlani.  
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     104      Cover Page Interactive Data File (embedded within XBRL document)                                             

SIGNATURE

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, thereunto duly authorized.

                             AWARE, INC.                               
  Dated: March 17, 2025      By:              /s/ David K. Traverse    
                                              David K. Traverse