Energous Corp. (WATT)

[F1ash]

If he was selling shares perhaps it was simply to fund his upcoming semi-retirement from full time work.

“As mentioned earlier, Energous (WATT), the maker of technology for wireless power, filed an 8-K filing with the Securities & Exchange Commission saying its founder and chief technology officer, Michael Leabman, will go from being a full-time employee to a contractor.

This announcement followed my meeting yesterday with Energous CEO Steve Rizzone, so there was no discussion of the matter between us.

I reached out to the company today, and they responded with a statement saying that Leabman is going to focus on personal projects and spending time with his family.

With the recent FCC certification, the shipment of Energous’ first silicon chips for revenue and the release of the first fully integrated WattUp product for sale to the consumer, Michael has decided to step back from his current role and engage with the company on a different level, which allows him to focus on personal endeavors and spend more time with his family. Michael will continue to advise the company on matters of innovation, strategy and direction, interface with customers and speak on the company’s behalf at important venues. He remains committed to the success of Energous and continues to be one of the largest Energous shareholders. The filing today was necessary to document the change in his role with the company, not his disengagement.

Leabman founded Energous in October of 2013, with friends and family money initially, after three years as president of TruePath Wireless, a technology company that did such things as providing ship-to-shore Internet connectivity for cruise ships.”

https://www.barrons.com/articles/energous-cto-leabman-steps-down-for-personal-endeavors-family-says-company-1515705322?mod=yahoobarrons&ru=yahoo&yptr=yahoo