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Lantronix, Inc. Appoints James C. Auker as Non-Employee Director

Strategic Insights

— 2 min read

Lantronix, Inc., a Delaware-based company, has recently made significant changes to its board of directors. The company filed a Form 8-K with the U.S. Securities and Exchange Commission on July 11, 2025, announcing the appointment of James C. Auker as a non-employee director, effective July 8, 2025. This addition brings the total number of board members to six. According to the filing, Mr. Auker was appointed in accordance with the Cooperation Agreement entered into between Lantronix, Inc. and Chain of Lakes Investment Fund, LLC, Haluk L. Bayraktar, and Emre Aciksoz, dated June 24, 2025. As part of his compensation, Mr. Auker will receive a grant of 10,387 restricted stock units (RSUs) under the Company's 2020 Performance Incentive Plan, which will vest in full on November 5, 2025.

Key Takeaways:

  • The board of directors of Lantronix, Inc. has been increased from five to six members, with James C. Auker replacing the former director.
  • Mr. Auker was appointed on July 8, 2025, in accordance with the Cooperation Agreement dated June 24, 2025.
  • Mr. Auker will receive a grant of 10,387 restricted stock units (RSUs) under the Company's 2020 Performance Incentive Plan, which will vest in full on November 5, 2025.
  • Mr. Auker's compensation will be in accordance with the Company's standard compensation program for non-employee directors, as outlined in Exhibit 10.32 to the Company's Annual Report on Form 10-K.

*chain of Lakes Investment Fund, LLC, Haluk L. Bayraktar, and Emre Aciksoz were involved in the Cooperation Agreement that led to Mr. Auker's appointment.

  • Lantronix, Inc. has confirmed that Mr. Auker satisfies the independence and financial literacy requirements under applicable rules and regulations of the Nasdaq Stock Market and the SEC.
  • Mr. Auker will enter into an Indemnification Agreement with Lantronix, Inc., with terms identical in all material respects to the form of indemnification agreement previously entered into with each of its directors.

Statistics:

  • 10,387 restricted stock units (RSUs) granted to Mr. Auker as part of his compensation package.
  • 6 members now serve on the board of directors of Lantronix, Inc., following the appointment of James C. Auker.
  • July 8, 2025: effective date of Mr. Auker's appointment as a non-employee director.
  • November 5, 2025: date on which Mr. Auker's RSUs will vest in full.
  • June 24, 2025: date of the Cooperation Agreement that led to Mr. Auker's appointment.
  • June 20, 2016: date of the filing of the form of indemnification agreement entered into with each of Lantronix, Inc.'s directors.

Sources:

  • UNITED STATES SECURITIES AND EXCHANGE COMMISSION, Washington, D.C. 20549 FORM 8-K CURRENT REPORT (July 11, 2025).
  • Lantronix, Inc., Form 10-K Annual Report (August 29, 2022).
  • Cooperation Agreement between Lantronix, Inc. and Chain of Lakes Investment Fund, LLC, Haluk L. Bayraktar, and Emre Aciksoz (June 24, 2025).
  • Exhibit 10.32 to Lantronix, Inc.'s Annual Report on Form 10-K (August 29, 2022).
  • Form of Indemnification Agreement filed as Exhibit 10.2 to Lantronix, Inc.'s Current Report on Form 8-K (June 20, 2016).

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