Kesselring Holding Corporation

08/12/2024 | Press release | Distributed by Public on 08/12/2024 15:00

Management Change/Compensation Form 8 K

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On August 6, 2024, the Board of Directors (the "Board") of Kingfish Holding Corporation (the "Company") agreed to expand the size of the Board to seven directors and appointed James Robert Lindsay (Bob Lindsay) as a member of the Board to fill the newly created vacancy. The Board has determined that Mr. Lindsay will be an independent director under the rules of The Nasdaq Stock Market, which the Company uses to evaluate director independence. Mr. Lindsay has not yet been appointed to serve as a member on any Board committee.

James R. Lindsay - 68. Mr. Lindsay is the owner of Sandbar Charters FL, founded in 2023, a luxury boat chartering company and from September 1, 2020 has also served as a Vice President at Acentria Insurance ("Acentria"), a business unit of Foundation Risk Partners, which provides personal, business, health and life insurance coverage.. Prior to joining Acentria as a Vice President, Mr. Lindsay was the owner of the Bob Lindsay Insurance Agency from 2008 to 2020. Mr. Lindsay also served on the Phillippi Landings Building E Condo Association Board as a vice president from January 1, 2023 to January 1, 2024. Mr. Lindsay graduated from George Washington University in 1979 with a bachelor's degree in business.

Mr. Lindsay has over 35 years of extensive experience in the insurance industry, which provides him with a strong background in risk management and business operations, which are invaluable skills needed by the Company as it seeks to carry out its business plan and improve its review over internal controls and risk management assessments.

There are no family relationships between Mr. Lindsay and any other director or executive officer of the Company. Nor are there any transactions between Mr. Lindsay or any member of his immediate family and the Company that would be reportable as a related party transaction under the rules of the United States Securities and Exchange Commission. Further, there is no arrangement or understanding between him and any other persons or entities pursuant to which he was appointed as a director of the Company.

The Company's Board members are not currently compensated for their attendance at the Company's regularly scheduled or special meetings or for their services. However, directors are reimbursed for their expenses in attending board meetings.

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