docslib-294169v18k_averil
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported):
April 11, 2022
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SCIENTIFIC INDUSTRIES, INC.
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(Exact
name of registrant as specified in its charter)
Delaware
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000-6658
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04-2217279
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(State
or other Jurisdiction)
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(Commission
File Number)
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(IRS
Employer No.)
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80 Orville Drive
Bohemia, New York 11716
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(Address
of principal executive offices)
(631) 567-4700
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(Registrant's
telephone number, including area code)
Not Applicable
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(Former
name or former address, if changed since last report)
ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF
DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY
ARRANGEMENTS OF CERTAIN OFFICERS
(c)
Effective April 11, 2022, Scientific
Industries, Inc. (the “Company”), hired Reginald
Averilla as its Chief Financial Officer, replacing Helena R. Santos
in that role, which she had held since August 2002. Mr. Averilla,
age 44, brings to the Company over 10 years of financial
accounting and management experience, including private and
public company governance and
mergers and acquisitions. From July 2020 to April
2022, Mr. Averilla served as VP Controller of Medical Knowledge
Group, a privately held company that provides marketing
solutions in the biopharmaceutical industry. From 2017 to July
2020, Mr. Averilla served as VP Controller for Film Expo Group, a
privately held company that organizes events in the motion picture
industry. Prior to 2017, Mr. Averilla served as the Assistant
Controller to SFX Entertainment, previously a publicly-traded
company that produces live events and
digital entertainment content focused. Mr. Averilla
received his B.S. in Accounting from CUNY Hunter College and is a
Certified Public Accountant.
(e) Upon the commencement of his employment, Mr. Averilla will
receive an annual salary of $170,000 and be eligible to receive a
discretionary bonus of 10% of his base salary. Mr. Averilla will be
granted options to purchase 20,000 shares of the
Company’s common stock, which options shall vest over a
four-year period, beginning with a 25% vest on the first
anniversary of the grant date and the remainder
thereafter in equal monthly installments, in accordance with the
Company’s 2022 Equity Incentive Plan.
ITEM 9.01 Financial Statements and Exhibits
(a),(b),(c)
not applicable
(d)
Exhibits
None
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 hereunto duly authorized.
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SCIENTIFIC INDUSTRIES, INC.
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Date: April 13, 2022
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By:
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/s/ Helena R. Santos
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Helena R. Santos,
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President and Chief Executive Officer
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