Harbor Custom Development Inc.

10/25/2021 | Press release | Distributed by Public on 10/25/2021 04:05

Management Change/Compensation - Form 8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 19, 2021

Harbor Custom Development, Inc.

(Exact name of registrant as specified in its charter)

Washington 333-237507 46-4827436

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

11505 Burnham Dr., Suite 301

Gig Harbor, Washington98332

(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code (253)649-0636

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 CFR 240.14a-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-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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

Title of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered
Common Stock HCDI The Nasdaq Stock Market LLC
8.0% Series A Cumulative Convertible Preferred Stock HCDIP The Nasdaq Stock Market LLC
Warrants HCDIW The Nasdaq Stock Market LLC
Warrants HCDIZ The Nasdaq Stock Market LLC

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

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.

As previously disclosed on a Current Report on Form 8-K filed on August 18, 2021, Tim O'Sullivan is the acting Chief Financial Officer of Harbor Custom Development, Inc. (the "Company") on an interim basis until the Company appoints a permanent replacement. On October 19, 2021, Mr. O'Sullivan was given a $30,000 salary increase retroactive to August 24, 2021, the date he started as interim Chief Financial Officer of the Company, for a total annual salary of $180,000; provided however, the $30,000 increase will be removed once a permanent Chief Financial Officer is appointed.

SIGNATURES

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

Harbor Custom Development, Inc.
Date: October 22, 2021 By: /s/ Jeff Habersetzer
Jeff Habersetzer
Chief Operating Officer, Secretary, and General
Counsel