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GLYE > SEC Filings for GLYE > Form 8-K on 21-Jan-2014All Recent SEC Filings

Show all filings for GLYECO, INC.

Form 8-K for GLYECO, INC.


21-Jan-2014

Change in Directors or Principal Officers


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

Election of Directors

On January 15, 2014, the Board of Directors (the "Board") of GlyEco, Inc., a Nevada corporation (the "Company"), voted to increase the size of the Board from five members to seven members and thereafter appointed Everett Alexander and Dwight B. Mamanteo to fill the resulting vacancies and serve as members of the Board, effective immediately.

Since 2002, Mr. Alexander has worked in the investment management industry, analyzing and investing in companies across a broad range of industries. Previously, he worked for Texaco Inc., in their Global Gas & Power Division, where he helped manage the firm's proprietary gasification technology licensing and project development effort in Asia. His responsibilities included negotiating licensing agreements and arranging project financing. Mr. Alexander holds an M.B.A from The Wharton School of the University of Pennsylvania, an MA in International Studies from The Lauder Institute of the University of Pennsylvania, and a BA from Williams College.

Since 2004, Mr. Mamanteo has served as a Portfolio Manager at Wynnefield Capital, Inc. Since March 2007, Mr. Mamanteo has served on the Board of Directors of MAM Software Group, Inc. (NASDAQ: MAMS), a provider of innovative software and data solutions for a wide range of businesses, including those in the automotive aftermarket. Mr. Mamanteo serves as the Chairman of the Compensation Committee and as a member of the Audit and Governance Committees. Since June 2013, Mr. Mamanteo has served on the Board of Directors of ARI Network Services, Inc. (NASDAQ: ARIS), a provider of products and solutions that serve several vertical markets with a focus on the outdoor power, power sports, marine, RV, and appliance segments. Mr. Mamanteo serves as a member of the Compensation and Governance Committees. Mr. Mamanteo received an M.B.A. from the Columbia University Graduate School of Business and a B.Eng. in Electrical Engineering from Concordia University (Montreal).

There are no arrangements or understandings between Messrs. Alexander and Mamanteo and any other persons pursuant to which they were selected as directors; there are no family relationships between them and any of the Company's directors and officers; and there are no related party transactions reportable under Item 404(a) of Regulation S-K.

In consideration for their services, Messrs. Alexander and Mamanteo will receive the standard compensation paid to non-employee directors of $600 per quarter and 50,000 stock options per year.


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