Replies to post #2575 on USA Technologies Inc (USAT)

[FUNMAN]

SCHEDULE 13G/A https://usatechnologiesinc.gcs-web.com/node/19861/html

[FUNMAN]

Significant --->>> Separation and Transition Agreement with Chief Operating Officer

Hudson wants someone to do a better job.

https://www.sec.gov/Archives/edgar/data/896429/000091412121000080/us55605435-8k.htm

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

Separation and Transition Agreement with Chief Operating Officer

On January 11, 2021, USA Technologies, Inc. (the “Company”) entered into a separation and transition agreement (the “Separation Agreement”) with Jeff Vogt, the Company’s Chief Operating Officer. Pursuant to the Separation Agreement, Mr. Vogt’s last day of employment with the Company will be January 15, 2021, and subject to his execution of a release of claims against the Company, Mr. Vogt will receive two weeks of base salary payments and full vesting of the remaining unvested portion of the stock options and restricted shares granted to him on November 22, 2019 and December 2, 2019, respectively. All of Mr. Vogt’s other unvested equity awards will be forfeited in connection with his termination of employment. The Separation Agreement also contains a non-competition covenant and non-solicitation of clients and employees covenants that are in effect for one year after the date Mr. Vogt’s employment ends. In addition, Mr. Vogt has agreed to a reciprocal non-disparagement covenant with the Company.

Following the end of Mr. Vogt’s employment, he will be engaged as a consultant through February 13, 2021 in order to more seamlessly transition his duties. Under the consulting arrangement, he will be expected to provide a full-time commitment to the Company of 40 hours per week, and he will receive $164 per hour.

The foregoing summary of the Separation Agreement does not purport to be complete and is qualified in its entirety by the complete text of the Separation Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

[FUNMAN]

IMO, the "New US Patent" means revenues will trail this news by a number of Q's post Covid-19 vaccinations. But it should attract more vending customers and help to keep them sticky to USAT's customers, and therefore to USAT.

I'm thinking that USAT is gaining traction with HUDSON managing them. They are standing for no excuses, as evidenced by ousting their own hand pick operations officer.

Obviously they have expectations regardless of the pandemic.

Their interest is either to turn USAT into "the-next-Visa/MC/Apple Pay" or to show the traction and turnaround to make them a more attractive M & A lure.

Either way, I think the "real" ride is just beginning.