Duos Technologies Group Inc. filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits
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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.
As previously disclosed, effective April 1, 2026 Douglas Recker was appointed Chief Executive Officer and President of Duos Technologies Group, Inc. (the “Company”). In connection with Mr. Recker’s appointment, Charles Ferry resigned as Chief Executive Officer. Mr. Ferry remains as a Director of the Company and will continue as Chief Executive Officer of New APR Energy, LLC, in which the Company has a 5% equity interest.
Mr. Ferry and the Company had entered into an Equity Award Agreement, effective January 1, 2025 (the “Original Agreement”), pursuant to which Mr. Ferry was granted 552,889 shares of the Company’s Common Stock under the 2021 Equity Incentive Plan, as amended, subject to a three-year cliff vesting period. All of such shares were to vest on December 31, 2027. Under the Original Agreement, these shares would be forfeited if Mr. Ferry was not employed by the Company through the vesting date, or if other specified events occurred. In connection with his resignation, Mr. Ferry and the Company amended the Original Agreement as provided in the Amended and Restated Equity Award Agreement (the “Amended and Restated Agreement”), which reduced the number of shares subject to the award to 261,445. The vesting date remains the same, but the shares will now be subject to forfeiture if he no longer is serving as a Director of the Company through the vesting date. All other terms of the grant remain the same.
The foregoing description of the Amended and Restated Agreement does not purport to be complete and is qualified by reference to the Amended and Restated Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description of Exhibit | |
| 10.1 | Amended and Restated Equity Award Agreement between Duos Technologies, Group, Inc. and Charles P. Ferry. | |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) |
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.
| DUOS TECHNOLOGIES GROUP, INC. | ||
| Dated: April 7, 2026 | By: | /s/ Leah F. Brown |
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Leah F. Brown Chief Financial Officer | ||