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			8-K April 2018
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			<a name="_GoBack"></a><font style="display: inline;font-weight:bold;font-size:18pt;">UNITED STATES</font>
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			<font style="display: inline;font-weight:bold;font-size:18pt;">SECURITIES AND EXCHANGE COMMISSION</font>
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			<font style="display: inline;font-weight:bold;">Washington, D.C. 20549</font>
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			<font style="display: inline;font-weight:bold;font-size:18pt;">FORM&nbsp;8-K</font>
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			<font style="display: inline;font-weight:bold;">CURRENT REPORT</font><br /><font style="display: inline;font-weight:bold;">Pursuant to Section&nbsp;13 OR 15(d)&nbsp;of </font><br /><font style="display: inline;font-weight:bold;">The Securities Exchange Act of 1934</font>
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			<font style="display: inline;">Date of Report (Date of earliest event reported):</font><font style="display: inline;font-weight:bold;">&nbsp;</font><font style="display: inline;font-weight:bold;">April 2</font><font style="display: inline;font-weight:bold;">0</font><font style="display: inline;font-weight:bold;">, 201</font><font style="display: inline;font-weight:bold;">8</font>
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			<font style="display: inline;font-weight:bold;font-size:18pt;">pdvWireless</font><font style="display: inline;font-weight:bold;font-size:18pt;">, Inc.</font>
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			<font style="display: inline;">(Exact name of registrant as specified in its charter)</font>
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						<font style="display: inline;font-weight:bold;">Delaware</font></p>
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						<font style="display: inline;font-weight:bold;">001-36827</font></p>
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						<font style="display: inline;">(State or other jurisdiction </font></p>
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						<font style="display: inline;">(IRS Employer</font></p>
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						<font style="display: inline;">of incorporation)</font></p>
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						<font style="display: inline;">Identification No.)</font></p>
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						<font style="display: inline;font-weight:bold;">3 Garret Mountain Plaza</font></p>
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						<font style="display: inline;font-weight:bold;">Suite 401</font></p>
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						<font style="display: inline;font-weight:bold;">Woodland Park, NJ</font></p>
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						<font style="display: inline;font-weight:bold;">07424</font></p>
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						<font style="display: inline;">(Address of principal executive offices)</font></p>
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						<font style="display: inline;">(Zip Code)</font></p>
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			<font style="display: inline;font-weight:bold;">(973) 771-0300</font><br /><font style="display: inline;font-weight:bold;"></font><font style="display: inline;">Registrant&#x2019;s telephone number,&nbsp;including area code</font>
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			<font style="display: inline;font-weight:bold;">Not applicable</font>
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			<font style="display: inline;">(Former name or former address, if changed since last report)</font>
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			<font style="display: inline;">Check the appropriate box below if the Form&nbsp;8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</font>
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			<font style="display: inline;">&#x2610;</font><font style="display: inline;">&nbsp;&nbsp;&nbsp; Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</font>
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			<font style="display: inline;">&nbsp;</font>
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			<font style="display: inline;">&#x2610;</font><font style="display: inline;">&nbsp;&nbsp;&nbsp; Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12(b))</font>
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			<font style="display: inline;">&#x2610;</font><font style="display: inline;">&nbsp;&nbsp;&nbsp; Pre-commencement communications pursuant to Rule&nbsp;14d-2(b)&nbsp;under the Exchange Act (17 CFR 240.14d-2(b))</font>
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			<font style="display: inline;">&#x2610;</font><font style="display: inline;">&nbsp;&nbsp;&nbsp; Pre-commencement communications pursuant to Rule&nbsp;13e-4(c)&nbsp;under the Exchange Act (17 CFR 240.13e-4(c))</font>
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			<font style="display: inline;">Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (&#xA7;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#xA7;240.12b-2 of this chapter). </font>
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			<font style="display: inline;">Emerging growth company </font><font style="display: inline;font-size:9.5pt;">&#x2612;</font>
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			<font style="display: inline;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. </font><font style="display: inline;font-size:9.5pt;">&#x2612;</font><font style="display: inline;">&nbsp;</font>
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			<font style="display: inline;font-weight:bold;color:#000000;">Item&nbsp;5.02&nbsp;</font><font style="display: inline;font-weight:bold;color:#000000;background-color: #FFFFFF;">Departure of Directors or Certain Officers;&nbsp;Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</font>
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			<font style="display: inline;font-weight:bold;font-style:italic;color:#000000;font-size:10pt;">Chief Executive Officer Transition</font>
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			<font style="display: inline;color:#000000;font-size:10pt;">On April 23, 2018, pdvWireless, Inc. (the &#x201C;</font><font style="display: inline;font-weight:bold;font-style:italic;color:#000000;font-size:10pt;">Company</font><font style="display: inline;color:#000000;font-size:10pt;">&#x201D;) announced that its Board of Directors has determined that it is in the best interests of the Company and its stockholders to continue to shift the Company&#x2019;s focus and resources to pursuing its regulatory initiatives at the Federal Communications Commission (the &#x201C;</font><font style="display: inline;font-weight:bold;font-style:italic;color:#000000;font-size:10pt;">FCC</font><font style="display: inline;color:#000000;font-size:10pt;">&#x201D;) and preparing for the f</font><font style="display: inline;font-size:10pt;">uture deployment of broadband and other advanced technologies and services.&nbsp;&nbsp;&nbsp;In light of this continued shift in focus, the Board also approved </font><font style="display: inline;color:#000000;font-size:10pt;">a chief executive officer transition plan, under which, John Pescatore, the Company&#x2019;s current chief executive officer and president, transitioned to the position of vice chairman, effective April 23, 2018 (the &#x201C;</font><font style="display: inline;font-weight:bold;font-style:italic;color:#000000;font-size:10pt;">Transition Date</font><font style="display: inline;color:#000000;font-size:10pt;">&#x201D;), and Morgan O&#x2019;Brien, the Company&#x2019;s current vice chairman assumed the position as the Company&#x2019;s new chief executive officer, effective as of the Transition Date.&nbsp;</font>
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			<font style="display: inline;font-weight:bold;font-style:italic;color:#000000;font-size:10pt;">Transition</font><font style="display: inline;font-weight:bold;font-style:italic;color:#000000;font-size:10pt;"> and Consulting</font><font style="display: inline;font-weight:bold;font-style:italic;color:#000000;font-size:10pt;"> Agreement</font><font style="display: inline;font-weight:bold;font-style:italic;color:#000000;font-size:10pt;">s</font>
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			<font style="display: inline;color:#000000;font-size:10pt;">In connection with the transition, the Company entered into a Continued Service, Consulting and Transition Agreement, dated April 2</font><font style="display: inline;color:#000000;font-size:10pt;">3</font><font style="display: inline;color:#000000;font-size:10pt;">, 2018 (the &#x201C;</font><font style="display: inline;font-weight:bold;font-style:italic;color:#000000;font-size:10pt;">Transition Agreement</font><font style="display: inline;color:#000000;font-size:10pt;">&#x201D;), and a separate Consulting Agreement, dated April 2</font><font style="display: inline;color:#000000;font-size:10pt;">3</font><font style="display: inline;color:#000000;font-size:10pt;">, 2018 (the &#x201C;</font><font style="display: inline;font-weight:bold;font-style:italic;color:#000000;font-size:10pt;">Consulting Agreement</font><font style="display: inline;color:#000000;font-size:10pt;">&#x201D;), with Mr. Pescatore.&nbsp;&nbsp;Under the Transition Agreement, effective April 23, 2018, Mr. Pescatore transitioned to serving as vice chairman and will continue serving as an employee of the Company through September 30, 2018, or such other date as mutually agreed, to help with the transition (the &#x201C;</font><font style="display: inline;font-weight:bold;font-style:italic;color:#000000;font-size:10pt;">Transition Period</font><font style="display: inline;color:#000000;font-size:10pt;">&#x201D;).&nbsp; </font>
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		<p style="margin:12pt 0pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;color:#000000;font-size:10pt;">During the Transition Period, Mr. Pescatore will receive $15,385 per week for his service as vice chairman.&nbsp;&nbsp;Following the Transition Period, Mr. Pescatore will provide consulting services to the Company for a three-year period pursuant to the terms of the Consulting Agreement.&nbsp;&nbsp;Mr. Pescatore will receive $66,667 per month for the first 24 months of his consulting services and no fees for the remaining 12 months of his consulting services.&nbsp;&nbsp;He will also continue to vest as a service provider in his previously-issued and outstanding equity awards during his consultancy.&nbsp; Mr. Pescatore will receive a bonus of $260,000 under the Company&#x2019;s short-term incentive plan for his prior services to the Company during its fiscal year ended March 31, 2018 (&#x201C;</font><font style="display: inline;font-weight:bold;font-style:italic;color:#000000;font-size:10pt;">fiscal 2018</font><font style="display: inline;color:#000000;font-size:10pt;">&#x201D;).&nbsp;&nbsp;This bonus will be paid to Mr. Pescatore at the same time the Company&#x2019;s other executive officers receive bonus payments for their services during fiscal 2018.&nbsp;&nbsp; In addition, the Company has agreed to provide Mr. Pescatore with life insurance and 18 months of continued&nbsp;health benefits after the end of the Transition Period.&nbsp;&nbsp;Mr. Pescatore will not receive a new equity award for his services as an employee or consultant under the Transition or Consulting Agreements.</font>
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		<p style="margin:12pt 0pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;color:#000000;font-size:10pt;">Under the Transition Agreement, Mr. Pescatore has agreed to waive any rights to severance and the accelerated equity vesting terms he would be entitled to as a Tier 1 Employee under the Company&#x2019;s Executive Severance Plan, which was adopted by the Board in February 2015.&nbsp;&nbsp;The Company is unaware of any grounds to end Mr. Pescatore&#x2019;s services with the Company for cause.&nbsp;&nbsp;As a result, if not for the waiver, Mr. Pescatore would have been entitled to receive the severance benefits set forth in the Executive Severance Plan.</font>
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		<p style="margin:12pt 0pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;color:#000000;font-size:10pt;">The Transition Agreement provides for a mutual general release of claims by the Company and Mr. Pescatore.&nbsp;&nbsp;The Transition Agreement also requires Mr. Pescatore to comply with restrictions and covenants in favor of the Company, including confidentiality, non-compete and non-solicitation provisions.&nbsp; Mr. Pescatore will also be responsible for complying with the Company&#x2019;s policies applicable to employees and consultants, and Mr. Pescatore and the Company have agreed to mutual non-disparagement provisions. &nbsp;The Company has agreed to pay Mr. Pescatore $140,000 following the end of the Transition Period for his delivery of a Mutual Bring-Down Release in favor of the Company covering the Transition Period.&nbsp;&nbsp;The form of the Mutual Bring-Down Release is attached as </font><font style="display: inline;color:#000000;font-size:10pt;text-decoration:underline;">Exhibit B</font><font style="display: inline;color:#000000;font-size:10pt;"> to the Transition Agreement.</font>
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			<font style="display: inline;color:#000000;font-size:10pt;background-color: #FFFFFF;">The foregoing summary of </font><font style="display: inline;color:#000000;font-size:10pt;">Transition Agreement, t</font><font style="display: inline;color:#000000;font-size:10pt;background-color: #FFFFFF;">he Consulting Agreement, as well as the associated exhibits and schedules (including the Mutual Bring-Down Release attached as Exhibit B to the Transition Agreement), is not complete, and is qualified in its entirety by reference&nbsp;</font><font style="display: inline;color:#000000;font-size:10pt;">to the full text thereof, a copy of which are&nbsp;</font><font style="display: inline;color:#000000;font-size:10pt;background-color: #FFFFFF;">filed as Exhibits 10.1 and 10.2 to this Current Report on Form 8-K, and incorporated herein by reference.</font>
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</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:18pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;;font-size: 10pt"><font style="display: inline;font-weight:bold;color:#000000;font-size:10pt;">Item 7.01 Regulation FD Disclosure.</font>
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		<p style="margin:6pt 0pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;color:#000000;font-size:10pt;">On April 23, 2018, the Company issued a press release announcing its intention to continue to shift its focus and resources to pursuing its regulatory initiatives at the FCC and preparing for the f</font><font style="display: inline;font-size:10pt;">uture deployment of broadband and other advanced technologies and services.&nbsp;&nbsp;&nbsp;The Company also announced </font><font style="display: inline;color:#000000;font-size:10pt;">the transition of the role of chief executive officer from Mr. Pescatore to Mr. O&#x2019;Brien, and the transition of the role of vice chairman from Mr. O&#x2019;Brien to Mr. Pescatore. A copy of that press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K, and is incorporated by reference in this Item&nbsp;7.01.</font>
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			<font style="display: inline;color:#000000;font-size:10pt;">The information furnished in this Item 7.01 to this Form 8-K, including Exhibit 99.1 furnished herewith, shall not be deemed &#x201C;filed&#x201D; for purposes of Section&nbsp;18 of the Exchange Act or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any other filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except as expressly set forth by specific reference in such a filing.</font>
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			<font style="display: inline;font-weight:bold;color:#000000;">Item 9.01.&nbsp; </font><font style="display: inline;font-weight:bold;">Financial Statements and Exhibits.</font>
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			<font style="display: inline;color:#000000;">(d) Exhibits. </font>
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						<font style="display: inline;">Augu</font></p>
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						&nbsp;</p>
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						<font style="display: inline;font-weight:bold;">Exhibit No.</font></p>
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					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-weight:bold;">Description</font></p>
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						&nbsp;</p>
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						&nbsp;</p>
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						<font style="display: inline;">10.1</font></p>
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						<font style="display: inline;">Continued Service, Consulting and Separation Agreement, dated April </font><font style="display: inline;">2</font><font style="display: inline;">3</font><font style="display: inline;">, 2018, by and between the Company and John Pescatore.</font></p>
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						&nbsp;</p>
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					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">Consulting Agreement, dated April 2</font><font style="display: inline;">3</font><font style="display: inline;">, 2018, by and between the Company and John Pescatore.</font></p>
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						<font style="display: inline;">99.1</font></p>
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						&nbsp;</p>
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					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;color:#000000;">Press release, dated April </font><font style="display: inline;color:#000000;">23</font><font style="display: inline;color:#000000;">, 2018.</font></p>
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			<font style="display: inline;font-weight:bold;">SIGNATURES</font>
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			<font style="display: inline;">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.</font>
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						<font style="display: inline;font-weight:bold;">pdvWireless</font><font style="display: inline;font-weight:bold;">, I</font><font style="display: inline;font-weight:bold;">nc</font><font style="display: inline;font-weight:bold;">.</font></p>
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						<font style="display: inline;">Date: </font><font style="display: inline;">April 23, 2018</font></p>
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						<font style="display: inline;">/s/</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">Brian D. McAuley</font><font style="display: inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;"></font><font style="display: inline;"></font></p>
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						<font style="display: inline;">&nbsp; &nbsp;</font></p>
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					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">Brian D. McAuley</font></p>
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">Chairman </font><font style="display: inline;">of the </font><font style="display: inline;">Board </font></p>
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						&nbsp;</p>
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			</tr>
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		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 1pt">
			<font style="display: inline;font-size:1pt;">&#xFEFF;</font>
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			<font style="display: inline;">&#xFEFF;</font>
		</p>
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			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt 0pt 8pt;line-height:107.92%;font-family:Times New Roman;font-size: 10pt">

		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:right;line-height:100%;font-family:Times New Roman;font-size: 10pt">

			&nbsp;

		</p>

		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">

			&nbsp;

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt 0pt 8pt;line-height:107.92%;font-family:Times New Roman;;font-size: 10pt"><font style="display: inline;"></font>
		</p>
		<p style="margin:0pt;background-color: #FFFFFF;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;color:#000000;">Exhibit Index</font>
		</p>
		<p style="margin:0pt;background-color: #FFFFFF;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&nbsp;</font>
		</p>
		<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="top" style="width:14.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size: 10pt">
						<font style="display: inline;">Augu</font></p>
					<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;height:1.00pt;overflow:hidden">
						&nbsp;</p>
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;height:1.00pt;overflow:hidden">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:02.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:82.68%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:14.44%;border-bottom:1pt solid #000000 ;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-weight:bold;">Exhibit No.</font></p>
				</td>
				<td valign="top" style="width:02.88%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:82.68%;border-bottom:1pt solid #000000 ;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-weight:bold;">Description</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:14.44%;border-top:1pt solid #000000 ;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="width:02.88%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:82.68%;border-top:1pt solid #000000 ;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:14.44%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">&#xFEFF;</font><a href="pdvw-20180423xex10_1.htm" style="-sec-extract:exhibit"><font style="display: inline;">10.1</font></a></p>
				</td>
				<td valign="top" style="width:02.88%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:82.68%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<a href="pdvw-20180423xex10_1.htm" style="-sec-extract:exhibit"><font style="display: inline;">Continued Service, Consulting and Separation Agreement, dated April 23, 2018, by and between the Company and John Pescatore</font></a><font style="display: inline;">.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:14.44%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">&#xFEFF;</font><a href="pdvw-20180423xex10_2.htm" style="-sec-extract:exhibit"><font style="display: inline;">10.2</font></a></p>
				</td>
				<td valign="top" style="width:02.88%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:82.68%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<a href="pdvw-20180423xex10_2.htm" style="-sec-extract:exhibit"><font style="display: inline;text-decoration:none;">Consulting</font><font style="display: inline;">&nbsp;</font><font style="display: inline;text-decoration:none;">Agreement</font><font style="display: inline;">, dated April 23, 2018, by and between the Company and John Pescatore</font></a><font style="display: inline;">.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:14.44%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;">&#xFEFF;</font><a href="pdvw-20180423xex99_1.htm" style="-sec-extract:exhibit"><font style="display: inline;">99.1</font></a></p>
				</td>
				<td valign="top" style="width:02.88%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:82.68%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<a href="pdvw-20180423xex99_1.htm" style="-sec-extract:exhibit"><font style="display: inline;">Press release, dated April 23, 2018</font></a><font style="display: inline;">.</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;">&#xFEFF;</font>
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			<font style="display: inline;">&#xFEFF;</font>
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			&nbsp;

		</p>

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			&nbsp;

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{"company-data": {"conformed-name": "pdvWireless, Inc.", "cik": "0001304492", "assigned-sic": "4813", "irs-number": "330745043", "state-of-incorporation": "DE", "fiscal-year-end": "0331"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-36827", "film-number": "18769080"}, "business-address": {"street1": "3 GARRET MOUNTAIN PLAZA", "street2": "SUITE 401", "city": "WOODLAND PARK", "state": "NJ", "zip": "07424", "phone": "(973) 771-0300"}, "mail-address": {"street1": "3 GARRET MOUNTAIN PLAZA", "street2": "SUITE 401", "city": "WOODLAND PARK", "state": "NJ", "zip": "07424"}, "former-company": [{"former-conformed-name": "Pacific DataVision, Inc.", "date-changed": "20140616"}, {"former-conformed-name": "Pacific Data Vision", "date-changed": "20040928"}]}
8-K April 2018
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
April 2
0
, 201
8
pdvWireless
, Inc.
(Exact name of registrant as specified in its charter)
﻿
Delaware
001-36827
33-0745043
(State or other jurisdiction
(Commission File Number)
(IRS Employer
of incorporation)
Identification No.)
﻿
﻿
3 Garret Mountain Plaza
Suite 401
Woodland Park, NJ
07424
(Address of principal executive offices)
(Zip Code)
﻿
(973) 771-0300
Registrant's telephone number, including area code
Not applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12(b))
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
﻿
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
☒
﻿
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☒
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Chief Executive Officer Transition
On April 23, 2018, pdvWireless, Inc. (the "
Company
") announced that its Board of Directors has determined that it is in the best interests of the Company and its stockholders to continue to shift the Company's focus and resources to pursuing its regulatory initiatives at the Federal Communications Commission (the "
FCC
") and preparing for the f
uture deployment of broadband and other advanced technologies and services.   In light of this continued shift in focus, the Board also approved
a chief executive officer transition plan, under which, John Pescatore, the Company's current chief executive officer and president, transitioned to the position of vice chairman, effective April 23, 2018 (the "
Transition Date
"), and Morgan O'Brien, the Company's current vice chairman assumed the position as the Company's new chief executive officer, effective as of the Transition Date.
Transition
and Consulting
Agreement
s
In connection with the transition, the Company entered into a Continued Service, Consulting and Transition Agreement, dated April 2
3
, 2018 (the "
Transition Agreement
"), and a separate Consulting Agreement, dated April 2
3
, 2018 (the "
Consulting Agreement
"), with Mr. Pescatore.  Under the Transition Agreement, effective April 23, 2018, Mr. Pescatore transitioned to serving as vice chairman and will continue serving as an employee of the Company through September 30, 2018, or such other date as mutually agreed, to help with the transition (the "
Transition Period
").
During the Transition Period, Mr. Pescatore will receive $15,385 per week for his service as vice chairman.  Following the Transition Period, Mr. Pescatore will provide consulting services to the Company for a three-year period pursuant to the terms of the Consulting Agreement.  Mr. Pescatore will receive $66,667 per month for the first 24 months of his consulting services and no fees for the remaining 12 months of his consulting services.  He will also continue to vest as a service provider in his previously-issued and outstanding equity awards during his consultancy.  Mr. Pescatore will receive a bonus of $260,000 under the Company's short-term incentive plan for his prior services to the Company during its fiscal year ended March 31, 2018 ("
fiscal 2018
").  This bonus will be paid to Mr. Pescatore at the same time the Company's other executive officers receive bonus payments for their services during fiscal 2018.   In addition, the Company has agreed to provide Mr. Pescatore with life insurance and 18 months of continued health benefits after the end of the Transition Period.  Mr. Pescatore will not receive a new equity award for his services as an employee or consultant under the Transition or Consulting Agreements.
Under the Transition Agreement, Mr. Pescatore has agreed to waive any rights to severance and the accelerated equity vesting terms he would be entitled to as a Tier 1 Employee under the Company's Executive Severance Plan, which was adopted by the Board in February 2015.  The Company is unaware of any grounds to end Mr. Pescatore's services with the Company for cause.  As a result, if not for the waiver, Mr. Pescatore would have been entitled to receive the severance benefits set forth in the Executive Severance Plan.
The Transition Agreement provides for a mutual general release of claims by the Company and Mr. Pescatore.  The Transition Agreement also requires Mr. Pescatore to comply with restrictions and covenants in favor of the Company, including confidentiality, non-compete and non-solicitation provisions.  Mr. Pescatore will also be responsible for complying with the Company's policies applicable to employees and consultants, and Mr. Pescatore and the Company have agreed to mutual non-disparagement provisions.  The Company has agreed to pay Mr. Pescatore $140,000 following the end of the Transition Period for his delivery of a Mutual Bring-Down Release in favor of the Company covering the Transition Period.  The form of the Mutual Bring-Down Release is attached as
Exhibit B
to the Transition Agreement.
The foregoing summary of
Transition Agreement, t
he Consulting Agreement, as well as the associated exhibits and schedules (including the Mutual Bring-Down Release attached as Exhibit B to the Transition Agreement), is not complete, and is qualified in its entirety by reference
to the full text thereof, a copy of which are
filed as Exhibits 10.1 and 10.2 to this Current Report on Form 8-K, and incorporated herein by reference.
﻿
﻿
﻿
Item 7.01 Regulation FD Disclosure.
On April 23, 2018, the Company issued a press release announcing its intention to continue to shift its focus and resources to pursuing its regulatory initiatives at the FCC and preparing for the f
uture deployment of broadband and other advanced technologies and services.   The Company also announced
the transition of the role of chief executive officer from Mr. Pescatore to Mr. O'Brien, and the transition of the role of vice chairman from Mr. O'Brien to Mr. Pescatore. A copy of that press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K, and is incorporated by reference in this Item 7.01.
The information furnished in this Item 7.01 to this Form 8-K, including Exhibit 99.1 furnished herewith, shall not be deemed "filed" for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any other filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except as expressly set forth by specific reference in such a filing.
﻿
﻿
﻿
Item 9.01.
Financial Statements and Exhibits.
﻿
(d) Exhibits.
﻿
Augu
Exhibit No.
Description
﻿
10.1
Continued Service, Consulting and Separation Agreement, dated April
2
3
, 2018, by and between the Company and John Pescatore.
10.2
Consulting Agreement, dated April 2
3
, 2018, by and between the Company and John Pescatore.
99.1
Press release, dated April
23
, 2018.
﻿
SIGNATURES
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.
﻿
﻿
pdvWireless
, I
nc
.
Date:
April 23, 2018
/s/
Brian D. McAuley
Brian D. McAuley
Chairman
of the
Board
﻿
﻿
﻿
﻿
﻿
Exhibit Index
Augu
Exhibit No.
Description
﻿
﻿
10.1
Continued Service, Consulting and Separation Agreement, dated April 23, 2018, by and between the Company and John Pescatore
.
﻿
10.2
Consulting
Agreement
, dated April 23, 2018, by and between the Company and John Pescatore
.
﻿
99.1
Press release, dated April 23, 2018
.
﻿
﻿
﻿
﻿