SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM
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CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS
On April 1, 2025, Scientific Industries, Inc. (the “Company”), announced that it has appointed Nicholas Lavacca as its Chief Financial Officer (“CFO”). Reginald Averilla who had served as the Company’s CFO since April 11, 2022, left the Company to pursue other opportunities.
Mr. Lavacca, age 58, brings over 30 years of financial accounting and management experience in both private and public companies. From January 2022 to March 2025, Mr. Lavacca served as SVP Accounting and Treasury of Innovid Corp., a publicly traded company that provides ad serving and measurement service in the AdTech space. From 2020 to 2022, Mr. Lavacca served as VP Controller for Horizon Media, a privately held company in the marketing and advertising industry. Prior to 2020, Mr. Lavacca served in various financial roles at Omnicom Group, The New York Times Company and Deloitte. Mr. Lavacca received both his BBA in Accounting and MBA in Finance at Hofstra University. He is a Certified Public Accountant.
There are no family relationships between Mr. Lavacca and any director or executive officer of the Company and there are no transactions between Mr. Lavacca and the Company that would be reportable under Item 404(a) of Regulation S-K.
Upon the commencement of his employment, Mr. Lavacca will receive an annual salary of $200,000 and be eligible to participate in the Company’s annual bonus program. His target bonus will be 10% of his base salary. Mr. Lavacca will be eligible to participate in the Company’s 2022 Equity Incentive Plan.
ITEM 9.01 Financial Statements and Exhibits
(a), (b), (c) not applicable
(d) Exhibits None
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| SCIENTIFIC INDUSTRIES, INC. | ||
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Date: April 2, 2025 | By: | /s/ Helena R. Santos |
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| Helena R. Santos, |
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| President and Chief Executive Officer |
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