SOCKET MOBILE, INC. 8-K

What Happened

• Socket Mobile, Inc. filed an 8-K disclosing that on June 8, 2026 the independent members of the Board decided to remove Kevin Mills from his role as President and Chief Executive Officer; Mr. Mills is currently on paid administrative leave while the parties negotiate his termination date.
• On June 12, 2026 the Board appointed David A. Holmes (age 51) as President and Chief Executive Officer, effective immediately. Mr. Holmes has served as the Company’s Chief Business Officer since May 2021 and has over 20 years of experience in NFC and mobile payments.

Key Details

• Removal decision by independent directors: June 8, 2026; appointment effective June 12, 2026.
• Interim status: Kevin Mills remains on paid administrative leave while termination date is negotiated.
• Compensation change: Mr. Holmes’ annual base salary increased from $287,000 to $320,000, effective June 12, 2026; all other material employment terms remain as previously disclosed in the Company’s April 14, 2026 proxy.
• Background: Holmes previously held roles at NXP, Identive Group, and UL Solutions (Feb 2016–May 2021); holds an MBA (Portland State) and a BS in Industrial Engineering (University of Nebraska).

Why It Matters

• This Item 5.02 disclosure notifies investors of a leadership change at the CEO level and an internal promotion to preserve operational continuity.
• The filing confirms a salary increase for the new CEO and that negotiations over the former CEO’s termination are ongoing; investors should watch for any future 8-Ks disclosing termination or severance terms or other material related-party arrangements.