Quarterly report pursuant to sections 13 or 15(d)

Subsequent Events

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Subsequent Events
3 Months Ended
Dec. 30, 2012
Subsequent Events [Abstract]  
Subsequent Events [Text Block]

Note 8 Subsequent Events

 

On December 31, 2012, Ronald F. Richards resigned as a Director and Chairman of the Board of Optex Systems Holdings in order to pursue other business interests.

 

On January 3, 2013, at a Special Meeting of the Board of Directors of Optex Systems Holdings, Merrick Okamoto was elected Chairman of the Board.

 

The Board acknowledged Mr. Richards’ service Optex Systems Holdings and, in recognition, the Board unanimously voted to allow the balance of his unvested options to purchase 5,000,000 shares of Optex Systems Holdings common stock to vest immediately as of December 31, 2012 with the termination date of such options set at December 31, 2014.

 

Additionally, the Board of Directors unanimously voted to: (i) elect Chief Operating Officer, Danny Schoening, as Chief Executive Officer and (ii) appoint him as a to fill the vacancy created by Mr. Richards’ resignation, pursuant to Article III Section 3 of Optex Systems Holdings’ Bylaws.