Company: BNBX
Filing Date: 2025-11-10
Form Type: 8-K
Source: 0001104659-25-109267
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Company: BNB PLUS CORP.
Filing Date: 2025-11-10
Form: 8-K
Item: Item 5.02
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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 November 6, 2025,
the Board of Directors (the “ Board”) of Applied DNA Sciences, Inc. (the “ Company”), upon recommendation of the
Nominating Committee of the Board, appointed Joshua Kruger to serve as its Chairman and as a director. At the time of Mr. Kruger’s
appointment, the Board had a vacancy as the result of the previously disclosed resignation on September 29, 2025 of Sanford R. Simon.
Mr. Kruger replaced Judith Murrah as Chairman, who voluntarily resigned from her position as Chairperson of the Board effective November
6, 2025. Ms. Murrah will continue to serve as a director of the Company. Ms. Murrah’s resignation as Chairperson is not the result
of any dispute or disagreement with the Company or the Board on any matter relating to the Company’s operations, policies or practices.

The Board has determined
that Mr. Kruger does not satisfy the independence criteria set forth in the Nasdaq rules and is not “independent” for purposes
of serving on the Board. For his services as Chairman, Mr. Kruger is expected to receive the same annual compensation as the Company’s
other non-employee directors, if any. In connection with Mr. Kruger’s appointment to the Board, the Company will enter into its
standard form of indemnification agreement for directors and officers (the “ Indemnification Agreement”) with Mr. Kruger. Pursuant
to the terms of the Indemnification Agreement, the Company may be required, among other things, to indemnify Mr. Kruger for certain expenses,
including reasonable attorneys’ fees, retainers, court costs, transcripts, fees of experts, witness fees, travel expenses, duplicating
costs, printing and binding costs, telephone charges, postage, delivery service fees and all other disbursements or expenses incurred
by him in any action, proceeding or appeal arising out of his service on the Board or in connection with establishing or enforcing a right
to indemnification.

Mr. Kruger is an affiliate
of Cypress Management LLC, a Puerto Rico limited liability company (the “ Strategic Advisor”), and of Cypress LLC, a Puerto
Rico limited liability company (the “ Services Provider”). Mr. Kruger has an approximately 33% economic interest in each of
the