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IDSY > SEC Filings for IDSY > Form 8-K on 3-Mar-2014All Recent SEC Filings

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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

Effective as of March 2, 2014, Jeffrey M. Jagid resigned from his position as Chief Executive Officer of I.D. Systems, Inc. (the "Company"). Mr. Jagid is expected to continue his term as a director of the Company but will no longer serve as Chairman of the Company's Board of Directors (the "Board"). Following Mr. Jagid's resignation, the Board appointed Kenneth S. Ehrman, age 44, Interim Chief Executive Officer of the Company, effective immediately. The Board has engaged Lancor, an executive search firm, to identify additional candidates for the CEO position.

Mr. Jagid joined I.D. Systems in 1995. After initially serving as the Company's Chief Operating Officer, he was named CEO in June, 2000.

Mr. Ehrman co-founded the Company in 1993, has been the Company's President since its inception, and served as a director of the Company from its inception until 2013. Since September 2012, Mr. Ehrman has also served as a member of the board of directors of Financial Services, Inc., a privately held provider of data processing solutions for banking. He graduated from Stanford University in 1991 with a Bachelor of Science degree in Industrial Engineering. Upon his graduation, and until the Company's inception, Mr. Ehrman worked as a production manager with Echelon Corporation. Mr. Ehrman is the brother of Michael L. Ehrman, the Company's Chief Technology Officer.

Mr. Ehrman was not selected as Interim Chief Executive Officer pursuant to any arrangement or understanding with any other person, and does not have any reportable transactions under Item 404(a) of Regulation S-K.

The press release related to this matter is furnished as an exhibit to this report.

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