Anterix Announces CEO Transition and Appointment of New President and Chief Executive Officer

Anterix Inc. (NASDAQ: ATEX) recently disclosed in an 8-K filing a significant leadership transition within the company. Robert H. Schwartz, the current President and Chief Executive Officer (CEO) of Anterix, will be stepping down from his role. Schwartz will continue to provide advisory services to the Board of Directors until November 1, 2024, to ensure a smooth leadership transition.

In light of Schwartz’s departure, Anterix has entered into a Transition and Separation Agreement with him. This agreement outlines severance benefits for Schwartz, including severance payments, continued benefits coverage, and accelerated vesting of equity awards. Additionally, there are provisions related to a potential change in control scenario.

Simultaneously, the company has appointed Scott A. Lang as the new President and CEO, effective immediately. Lang, who has been a director at Anterix since August 2024, will now take on the role of principal executive officer. Lang’s employment agreement includes details such as his annual base salary, participation in incentive plans, and eligibility for various company benefits.

Lang will resign from serving on the Board’s Audit Committee and Nominating and Governance Committee due to his executive role. Anterix assured that independent directors will continue to constitute these committees as per regulatory requirements.

Further, Anterix issued a press release on October 8, 2024, regarding these executive changes. A copy of the press release is included as an exhibit in the 8-K filing.

The complete terms of the Transition Agreement with Schwartz and the Employment Agreement with Lang will be filed with Anterix’s Quarterly Report for the quarter ending December 31, 2024. These agreements provide a detailed overview of the compensation and benefits arrangements for both departing and incoming executives.

No other material arrangements or relationships were mentioned in connection with Scott A. Lang’s appointment as the new President and CEO. The filing also confirms Lang’s existing commitments to the company, including indemnification and proprietary information agreements.

The company’s decision for these executive changes appears to be a strategic move aimed at ensuring a smooth transition of leadership while maintaining operational stability. Anterix seems focused on seamless continuity in its leadership to support its ongoing business operations and strategic initiatives.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Anterix’s 8K filing here.

Anterix Company Profile

Anterix Inc operates as a wireless communications company. The company focuses on commercializing its spectrum assets to enable the targeted utility and critical infrastructure customers to deploy private broadband networks and innovative broadband solutions. It holds licensed spectrum in the 900 MHz band with coverage throughout the United States, Alaska, Hawaii, and Puerto Rico.