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Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934


Date of report (Date of earliest event reported): March 10, 2022





(Exact name of registrant as specified in Charter)


Delaware   001-36216   14-1999058

(State or other jurisdiction of

incorporation or organization)

  (Commission File No.)   (IRS Employee Identification No.)


5508 Highway 290 West, Suite 120

Austin, Texas, 78735

(Address of Principal Executive Offices)



(Issuer Telephone number)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions (see General Instruction A.2 below).


  ¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  ¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR240.14a-12)
  ¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)).
  ¨ Pre-commencement communications pursuant to Rule 13e-(c) under the Exchange Act (17 CFR 240.13(e)-4(c))


Securities registered pursuant to Section 12(b) of the Act:


Title of each class   Trading Symbol   Name of each exchange on which registered
Common Stock   IPWR   Nasdaq Capital Market


Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).


Emerging growth company ¨


If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨







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


On March 10, 2022, the Board of Directors (the “Board”) of Ideal Power Inc. (the “Company”) appointed Drue Freeman and Greg Knight to the Board, effective April 4, 2022.


Messrs. Freeman and Knight are expected to be appointed to one or more Board committees in April 2022. As compensation for their service on the Board, Messrs. Freeman and Knight will each receive the Company’s standard compensation for non-employee directors, including an annual equity award. There are no understandings or arrangements with any person pursuant to which either Mr. Freeman or Mr. Knight was selected as a director, and neither Mr. Freeman nor Mr. Knight is a party to any related party transaction required to be reported pursuant to Item 404(a) of Regulation S-K.


The Board considered the independence of Messrs. Freeman and Knight under Nasdaq listing standards and concluded that both Mr. Freeman and Mr. Knight are independent directors under the applicable Nasdaq standards.


Item 7.01.Regulation FD Disclosure.


On March 14, 2022, the Company issued a press release announcing the appointments of Mr. Freeman and Mr. Knight. A copy of the press release is furnished ss Exhibit 99.1 to this Current Report on Form 8-K.


Item 9.01.Financial Statements and Exhibits.


(d)  Exhibits.


99.1   Press Release, dated March 14, 2022.
104   Cover Page Interactive Data File (embedded within the Inline XBRL document).







Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Current Report to be signed on its behalf by the undersigned hereunto duly authorized.


Dated: March 14, 2022 IDEAL POWER INC.
  By: /s/ Timothy Burns
    Timothy Burns
    Chief Financial Officer