Annual report pursuant to Section 13 and 15(d)

Subsequent Events

Subsequent Events
12 Months Ended
Dec. 31, 2022
Subsequent Events [Abstract]  
Subsequent Events

Note P – Subsequent Events

[1] On March 3, 2023, the Company’s Board of Directors declared a semi-annual cash dividend of $0.05 per share with a payment date of March 31, 2023 to all common shareholders of record as of March 15, 2023.

[2] On March 3, 2023, the Company’s Board of Directors approved the grant of 15,000 RSUs to each of the Company’s three non-management directors. The RSUs vest over a one year period in equal quarterly installments of 3,750 shares of common stock on each of March 15, 2023, June 15, 2023, September 15, 2023 and December 15, 2023.

[3] During the period January 24, 2023 through March 10, 2023, the Company entered into settlement agreements with Arista Networks, Inc., Antiara Technologies LLC, Panasonic Holdings Corporation and TP-Link USA Corporation with respect to patent infringement litigation involving its Remote Power Patent, resulting in aggregate settlement payments to the Company of $537,300 and a conditional payment of $150,000 (see Note K[4] hereof).