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Aware, Inc. Message Board

  • elitecrete1 elitecrete1 Feb 28, 2013 2:58 PM Flag

    What is the current employment status of Michael Tzannes?

    October 18, 2011, Michael A. Tzannes, Executive Chairman and a director of Aware, Inc., informed our Board of Directors that he was resigning from our Board of Directors, effective October 18, 2011. Mr. Tzannes will continue as an employee of Aware serving as an Individual Contributor to Aware’s patent management operations (formerly known as Aware’s patent licensing operations), but he will no longer serve as an executive officer of Aware. On October 18, 2011, our Board of Directors approved a reduction in Mr. Tzannes’ base annual salary from $385,000 to $250,000. On October 18, 2011, the Board of Directors of Aware appointed current director John S. Stafford, Jr. to serve as Chairman of the Board. On October 18, 2011, our Board of Directors appointed Richard P. Moberg, Aware’s co-Chief Executive Officer and CFO, and Kevin T. Russell, Aware’s co-Chief Executive Officer and General Counsel, as Class I Directors to our Board. On October 18, 2011, our Board of Directors approved an increase in Mr. Russell’s base annual salary from $184,000 to $250,000. As of the date of this Form 8-K, our Board of Directors is reviewing strategic options with respect to our patent management operations, including a potential spin-off, sale or licensing of patents.

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    • Based on recent patent application submissions it appears Michael Tzannes has been pretty quiet at TPM. Marcos has filed one patent application in September of 2012 that appears to be part of work outside of Aware, although one of his co-inventors is an Aware alum and the subject matter looks very much like its related to Aware technology.

      All prior patent App's look to be while employed at Aware. So I'd estimate that Marcos seperated from Aware end of August, 2012.

    • earnings growth since 2011 probably goes something like this:

      1) +100K$ from MT's demotion
      2) +250K$ from MT's departure
      3) +250K$ from M'T's depatrure

      If we can get rid of Russberg we can genrate more earnings, no?

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