LANTRONIX INC
For the period ended Jun 30, 2024. Filed Sep 9, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Sep 9, 2024
LTRX$4.39-19.4%Stored close · as of Nov 10, 2026
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Item 15. Exhibits and Financial Statement Schedules
| ITEM 15. | EXHIBITS AND FINANCIAL STATEMENT SCHEDULES |
|---|
| 1. | Consolidated Financial Statements |
The following consolidated financial statements and related Report of Independent Registered Public Accounting Firm are filed as part of this Report.
| Page | |
| Report of Independent Registered Public Accounting Firm (PCAOB ID 23) | F-1 |
|---|---|
| Consolidated Balance Sheets as of June 30, 2024 and 2023 | F-4 |
| Consolidated Statements of Operations for the fiscal years ended June 30, 2024 and 2023 | F-5 |
| Consolidated Statements of Stockholders’ Equity for the fiscal years ended June 30, 2024 and 2023 | F-6 |
| Consolidated Statements of Cash Flows for the fiscal years ended June 30, 2024 and 2023 | F-7 |
| Notes to Consolidated Financial Statements | F-8 – F-33 |
2. Exhibits
| Incorporated by Reference | ||||
|---|---|---|---|---|
| Exhibit Number · Exhibit Description · Provided Herewith · Form · Exhibit · Filing Date | ||||
| 3.1 | Amended and Restated Certificate of Incorporation of Lantronix, Inc., as amended | 10-K | 3.1 | 8/29/2013 |
| 3.2 | Amended and Restated Bylaws of Lantronix, Inc. | 8–K | 3.2 | 11/15/2012 |
| 4.1 | Description of Lantronix Common Stock | 10-K | 4.1 | 9/11/2019 |
| 10.1* | Lantronix, Inc. Amended and Restated 2010 Stock Incentive Plan, as Amended on November 14, 2017 | 8-K | 99.1 | 11/15/2017 |
| 10.2* | Form of Stock Option Agreement under the Lantronix, Inc. Amended and Restated 2010 Stock Incentive Plan | S-8 | 4.3 | 5/9/2013 |
| 10.3* | Form of Restricted Stock Award Agreement under the Lantronix, Inc. Amended and Restated 2010 Stock Incentive Plan | S-8 | 4.4 | 5/9/2013 |
| 10.4* | Lantronix, Inc. 2020 Performance Incentive Plan, as amended and restated | 8-K | 10.1 | 11/9/2022 |
| 10.5* | Form of Director Stock Option Agreement under the Lantronix, Inc. 2020 Performance Incentive Plan | 10-K | 10.7 | 8/27/2021 |
| 10.6* | Form of Director Restricted Stock Unit Award Agreement under the Lantronix, Inc. 2020 Performance Incentive Plan | 10-K | 10.9 | 8/27/2021 |
| 10.7* | Form of Nonqualified Stock Option Agreement under the Lantronix, Inc. 2020 Performance Incentive Plan | 10-K | 10.10 | 8/27/2021 |
| 10.8* | Form of Incentive Stock Option Agreement under the Lantronix, Inc. 2020 Performance Incentive Plan | 10-K | 10.11 | 8/27/2021 |
| 10.9* | Letter Agreement dated September 8, 2011 between Lantronix, Inc. and Jeremy Whitaker | 8–K | 10.1 | 9/26/2011 |
| 10.10* | Amendment to Offer Letter between Lantronix, Inc. and Jeremy Whitaker, dated as of November 13, 2012 | 8-K | 99.2 | 11/15/2012 |
| 10.11* | Form of Indemnification Agreement entered into between Lantronix, Inc. with its directors and certain of its executive officers | 8-K | 10.2 | 6/20/2016 |
| 10.12* | Summary of Lantronix, Inc. Annual Bonus Program | 8-K | 99.1 | 9/8/2015 |
| 10.13* | Form of Executive Officer Retention Letter Agreement | 8-K | 10.1 | 7/5/2023 |
| 10.14* | Lantronix, Inc. 2013 Employee Stock Purchase Plan, as amended and restated | 8-K | 10.2 | 11/9/2022 |
| 10.15* | Offer Letter dated January 4, 2020, between Lantronix, Inc. and Roger Holliday | 10-K | 10.22 | 9/11/2020 |
| 10.16* | Intrinsyc Technologies Corporation Amended and Restated Incentive Stock Option Plan | 10-Q | 10.1 | 5/15/2020 |
| 10.17* | Intrinsyc Technologies Corporation Restricted Share Unit Plan | 10-Q | 10.2 | 5/15/2020 | |
| 10.18 | Third Amended and Restated Loan and Security Agreement with Silicon Valley Bank, dated August 2, 2021, by and between Lantronix, Inc., Lantronix Holding Company, Lantronix Canada ULC and Lantronix Technologies Canada (Taiwan) Ltd. and Transition Networks, Inc. | 8-K | 10.1 | 8/2/2021 | |
| 10.19 | Mezzanine Loan and Security Agreement, dated August 2, 2021, by and between Lantronix, Inc. and SVB Innovation Credit Fund VIII, L.P. | 8-K | 10.2 | 8/2/2021 | |
| 10.20 | 2020 Non-Employee Director Compensation Policy | 10-Q | 10.1 | 11/12/2021 | |
| 10.21* | Non-Employee Director Compensation Policy, as revised August 8, 2022 to be effective November 8, 2022 | 10-K | 10.32 | 8/29/2022 | |
| 10.22 | Warrant to Purchase Common Stock issued to SVB Innovation Credit Fund VIII, L.P. | 10-Q | 10.2 | 11/12/2021 | |
| 10.23 | Warrant to Purchase Common Stock issued to Innovation Credit Fund VIII-A, L.P. | 10-K | 10.34 | 8/29/2022 | |
| 10.24 | Lease dated November 5, 2021 between Lantronix, Inc. and Discovery Business Center LLC | 8-K | 10.1 | 11/8/2021 | |
| 10.25 | Lease dated January 20, 2022 between Lantronix, Inc. and Jet 55 Property Owner LLC | 8-K | 10.1 | 1/26/2022 | |
| 10.26 | First Amendment to Third and Restated Loan Security Agreement dated February 15, 2022, among Lantronix, Inc., Lantronix Holding Company, Lantronix Canada, ULC and Lantronix Technologies Canada (Taiwan) Ltd. and Transition Networks, Inc. | 10-Q | 10.3 | 2/11/2022 | |
| 10.27 | Second Amendment to Third and Restated Loan Security Agreement dated February 15, 2022, among Lantronix, Inc., Lantronix Holding Company, Lantronix Canada, ULC and Lantronix Technologies Canada (Taiwan) Ltd. and Transition Networks, Inc. | 8-K | 10.1 | 2/16/2022 | |
| 10.28 | Third Amendment to Third Amended and Restated Loan and Security Agreement dated September 7, 2022 among Lantronix, Inc., Lantronix Holding Company, Lantronix Canada ULC and Lantronix Canada (Taiwan) Ltd., Transition Networks, Inc. and Silicon Valley Bank | 8-K | 10.1 | 9/12/2022 | |
| 10.29* | Offer Letter dated December 12, 2022 between Lantronix, Inc. and Eric Bass | 10-K | 10.42 | 9/12/2023 | |
| 10.30 | Letter Agreement dated April 3, 2023, by and between Silicon Valley Bank, a Division of First-Citizens Bank & Trust Company (successor by purchase to the Federal Deposit Insurance Corporation as receiver for Silicon Valley Bank, N.A. (as successor to Silicon Valley Bank), Lantronix, Inc., Lantronix Holding Company, Lantronix Technologies Canada (Taiwan) Ltd., Lantronix Canada ULC, Transition Networks, Inc. and Uplogix, Inc. | 8-K | 10.1 | 4/6/2023 | |
| 10.31* | Employment agreement dated October 31, 2023 between Lantronix, Inc. and Saleel Awsare | 8-K | 10.1 | 11/6/2023 | |
| 10.32* | Change in Control Agreement between Lantronix, Inc. and Jeremy Whitaker dated May 10, 2024 | 8-K | 10.1 | 5/10/2024 | |
| 10.33* | Offer Letter dated February 23, 2024 between Lantronix, Inc. and Kurt Hoff | X | |||
| 10.34* · Offer Letter dated April 2, 2024 between Lantronix, Inc. and Mathi Gurusamy · X | |||||
|---|---|---|---|---|---|
| 10.35* · Form of Restricted Stock Unit Award Agreement under the Lantronix, Inc. 2020 Performance Incentive Plan · X | |||||
| 10.36* · Form of Performance Stock Unit Award Agreement (Financial Measure) under the Lantronix, Inc. 2020 Performance Incentive Plan · X | |||||
| 10.37* · Form of Performance Stock Unit Award Agreement (Relative TSR) under the Lantronix, Inc. 2020 Performance Incentive Plan · X | |||||
| 10.38* | Form of Inducement Restricted Stock Unit Agreement | S-8 | 4.1 | 6/5/2024 | |
| 10.39* | Form of Inducement Performance Stock Unit Agreement (Relative TSR) | S-8 | 4.2 | 6/5/2024 | |
| 10.40* | Form of Inducement Performance Stock Unit Agreement (Financial Measure) | S-8 | 4.3 | 6/5/2024 | |
| 10.41 | Cooperation Agreement, dated August 9, 2024, between Lantronix, Inc. and 180 Degree Capital Corp. | 8-K | 10.1 | 8/12/2024 | |
| 10.42 | Fourth Amendment to Third Amended and Restated Loan and Security Agreement dated September 3, 2024 among Lantronix, Inc., Lantronix Holding Company, Lantronix Canada, ULC and Lantronix Technologies Canada (Taiwan) Ltd., Transition Networks, Inc., Uplogix, Inc. and Silicon Valley Bank | X | |||
| 21.1+ | Subsidiaries of Lantronix, Inc. | X | |||
| 23.1+ | Consent of Independent Registered Public Accounting Firm, Baker Tilly US, LLP | X | |||
| 24.1+ | Power of Attorney (included on the signature page) | X | |||
| 31.1+ | Certification of Principal Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | X | |||
| 31.2+ | Certification of Principal Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | X | |||
| 32.1++ | Certification of Chief Executive Officer and Chief Financial Officer furnished pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 | X | |||
| 101.INS | Inline XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document | ||||
| 101.SCH | XBRL Taxonomy Extension Schema Document | ||||
| 101.CAL | XBRL Taxonomy Extension Calculation Linkbase Document | ||||
| 101.DEF | XBRL Taxonomy Extension Definition Linkbase Document | ||||
| 101.LAB | XBRL Taxonomy Extension Label Linkbase Document | ||||
| 101.PRE | XBRL Taxonomy Extension Presentation Linkbase Document | ||||
| 104 | Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101) | ||||
| * | Indicates management contract or compensatory plan, contract or arrangement. |
|---|---|
| + | Filed herewith |
| ++ | Furnished herewith. |
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