© Reuters.
Signing Day Sports (NYSE: SGN) announced the immediate resignation of Chief Operating Officer David O’Hara on March 1, 2024. The company confirmed that O’Hara’s departure did not stem from any disagreements regarding operations, policies, or practices.
O’Hara also terminated his Executive Employment Agreement with the firm, which had been effective since November 22, 2023. In his role at Signing Day Sports, O’Hara served not only as the COO but also as the Secretary.
Following this departure, the board appointed Trent Whitehead, who previously held the position of Vice President of Human Resources, to take over the secretary role and manage the principal operating functions previously under O’Hara’s purview. This appointment was made on March 4, 2024.
In conjunction with Whitehead’s new responsibilities, Signing Day Sports entered into an indemnification agreement with him. This agreement, dated March 4, 2024, ensures that Whitehead will be indemnified to the fullest extent allowed by law. The company will also advance any expenses related to legal proceedings, except for cases initiated by or on behalf of the company itself, provided a written request and a promise to repay the advanced funds if indemnification is deemed inappropriate are submitted.
The indemnification agreement further stipulates that Signing Day Sports will cover any judgments or settlements in actions where Whitehead might be liable, in accordance with the terms of the agreement. Additionally, if the company maintains a directors’ and officers’ liability insurance policy, Whitehead will be covered to the same extent as other directors and executive officers.
The information provided is based on an 8K filing.
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