Management ChangeApr 7, 2026, 04:31 PM
DUOS Technologies Appoints Douglas Recker as CEO; Former CEO Charles Ferry's Equity Award Reduced by 52.7% to 261,445 Shares
AI Summary
DUOS Technologies Group, Inc. announced the appointment of Douglas Recker as its new Chief Executive Officer and President, effective April 1, 2026. Concurrently, Charles Ferry resigned from his CEO position but will continue to serve as a Director of the Company and as CEO of New APR Energy, LLC, in which Duos holds a 5% equity interest. In connection with this transition, Mr. Ferry's previously granted equity award of 552,889 shares was significantly amended, reducing the number of shares to 261,445, a 52.7% decrease. The vesting date for these shares remains December 31, 2027, but is now contingent on his continued service as a Director.
Key Highlights
- Douglas Recker was appointed Chief Executive Officer and President of Duos Technologies Group, Inc., effective April 1, 2026.
- Charles Ferry resigned as Chief Executive Officer but remains a Director of the Company and continues as CEO of New APR Energy, LLC, where Duos holds a 5% equity interest.
- Mr. Ferry's original equity award, effective January 1, 2025, consisted of 552,889 shares of Common Stock under the 2021 Equity Incentive Plan, with a three-year cliff vesting on December 31, 2027.
- The equity award was amended, reducing the number of shares subject to the award to 261,445, representing a 52.7% decrease from the original grant.
- The vesting date for the amended award remains December 31, 2027, but the shares are now subject to forfeiture if Mr. Ferry is no longer serving as a Director of the Company through that date.