Astrotech Corporation Approves Amended Indemnification Agreements for Directors

Astrotech Corporation (NASDAQ: ASTC) announced today that its Board of Directors has approved amended and restated indemnification agreements related to the service of the company’s directors and officers. The agreements were entered into on December 18, 2024, with each of the directors of the company.

The amended and restated indemnification agreements provide for indemnification and advancements by Astrotech of certain expenses, such as attorneys’ fees, judgments, fines, settlement amounts, and costs related to claims, suits, or proceedings arising from each individual’s service to the company as a director or officer. This indemnification is to the maximum extent permitted by applicable law.

The company clarified that the description of the amended and restated indemnification agreement provided is not exhaustive, and the full text of the agreement can be found as Exhibit 10.1 of the Current Report on Form 8-K filed with the Securities and Exchange Commission (SEC).

Additionally, the information disclosed under Item 1.01 of the Form 8-K, regarding the entry into the material definitive agreement, is incorporated by reference into Item 5.02, which covers Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; and Compensatory Arrangements of Certain Officers.

Alongside this announcement, Astrotech disclosed that Thomas B. Pickens III, the Chief Executive Officer, Chief Technology Officer, and Chairman of the Board, signed the report on behalf of the company as duly authorized on December 19, 2024.

Investors and stakeholders interested in reviewing the details of the amended and restated indemnification agreement can access the full text in the Form 8-K filing on the SEC’s website under Astrotech’s profile.

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

About Astrotech

Astrotech Corporation operates as a mass spectrometry company worldwide. It owns and licenses the intellectual property related to the Astrotech Mass Spectrometer Technology, a platform mass spectrometry technology. The company also develops TRACER 1000, a mass spectrometer-based explosive trace detector to replace the explosives trace detectors used at airports, cargo and other secured facilities, and borders.