Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On July 1, 2022, Allen Capsuto, a member of the Board of Directors (the "Board")
of Alfi, Inc. (the "Company") and Chairman of the Audit Committee of the Board
(the "Audit Committee"), notified the Company that he is resigning his position
as a director of the Company and as Audit Committee Chair, effective July 14,
2022. Mr. Capsuto's resignation is not because of a disagreement with the
Company on any matter relating to the Company's operations, policies or
practices.
On July 7, 2022, the Board, upon recommendation of the Nominating and Corporate
Governance Committee of the Board, appointed Jeremy D. Daniel to serve as a
director of the Company to fill the vacancy on the Board created by Mr.
Capsuto's resignation, effective July 14, 2022 and immediately upon the
effectiveness of such resignation (the "Effective Time"). The Board also
appointed Mr. Daniel as a member of the Audit Committee and as Audit Committee
Chair, in each case effective as of the Effective Time.
Mr. Daniel, age 46, has served since 2019 as the Chief Financial Officer of
H-CYTE, Inc. ("H-CYTE"), a public reporting hybrid biopharmaceutical company
dedicated to developing and delivering a novel portfolio of new diagnostics,
therapeutics, and medical devices from concept to commercialization. From 2013
to 2019, Mr. Daniel served as Chief Financial Officer of Regenerative Medicine
Solutions, LLC, which was acquired by H-CYTE in 2019. He currently serves on the
Board of Directors of Medovex LLC, a subsidiary of H-CYTE. Mr. Daniel received
his BS in Accounting from the University of Cincinnati and his MBA from Xavier
University.
In connection with his appointment to the Board, the Board determined that Mr.
Daniel is independent under the independence standards of the Nasdaq Stock
Market ("Nasdaq") and is independent under the rules of Nasdaq and the
Securities and Exchange Commission (the "SEC") for purposes of service on the
Audit Committee. There are no arrangements or understandings between Mr. Daniel
and any other person pursuant to which he was selected as a director, and there
are no relationships or transactions in which Mr. Daniel has an interest
requiring disclosure under Item 404(a) of Regulation S-K. Mr. Daniel will
participate in the Company's director compensation program, which is described
under the heading "Director Compensation" in Item 11., Executive Compensation,
of the Company's Annual Report on Form 10-K for the year ended December 31,
2021, filed with the SEC on May 16, 2022.
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