<SEC-DOCUMENT>0001654954-20-003222.txt : 20200325
<SEC-HEADER>0001654954-20-003222.hdr.sgml : 20200325
<ACCEPTANCE-DATETIME>20200325161552
ACCESSION NUMBER:		0001654954-20-003222
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20200325
ITEM INFORMATION:		Amendments to the Registrant's Code of Ethics, or Waiver of a Provision of the Code of Ethics
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200325
DATE AS OF CHANGE:		20200325

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BK Technologies Corp
		CENTRAL INDEX KEY:			0000002186
		STANDARD INDUSTRIAL CLASSIFICATION:	RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT [3663]
		IRS NUMBER:				593486297
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32644
		FILM NUMBER:		20742334

	BUSINESS ADDRESS:	
		STREET 1:		7100 TECHNOLOGY DRIVE
		CITY:			WEST MELBOURNE
		STATE:			FL
		ZIP:			32904
		BUSINESS PHONE:		321-984-1414

	MAIL ADDRESS:	
		STREET 1:		7100 TECHNOLOGY DRIVE
		CITY:			WEST MELBOURNE
		STATE:			FL
		ZIP:			32904

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BK Technologies, Inc.
		DATE OF NAME CHANGE:	20180604

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	RELM WIRELESS CORP
		DATE OF NAME CHANGE:	19980129

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ADAGE INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>bkti_8k.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
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<font style="font-family: Times New Roman; font-size: 10">&#xA0;</font><font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 16px">UNITED
STATES</font></div>
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SECURITIES AND EXCHANGE COMMISSION</font></div>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
WASHINGTON, D.C. 20549</font></div>
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FORM 8-K</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;<br></font></div>
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CURRENT REPORT</font></div>
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Pursuant to Section&#xA0;13 or 15(d) of the Securities Exchange Act
of 1934</font></div>
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Date of Report (Date of Earliest Event Reported):</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
March 25, 2020</font></div>
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</font></div>
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<font style="color: #000000; font-weight: bold; font-family: Times New Roman; font-size: 32px">
BK Technologies Corporation</font></div>
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__________________________________________</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
(Exact name of registrant as specified in its charter)</font></div>
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Nevada</font></div>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
001-32644</font></div>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
83-4064262</font></div>
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_____________________</font></div>
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(State or other jurisdiction</font></div>
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_____________</font></div>
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(Commission</font></div>
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______________</font></div>
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(I.R.S. Employer</font></div>
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of incorporation)</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
File Number)</font></div>
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Identification No.)</font></div>
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&#xA0;&#xA0;</font></div>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
7100 Technology Drive, West Melbourne, FL</font></div>
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<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
32904</font></div>
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_________________________________</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
(Address of principal executive offices)</font></div>
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<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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___________</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
(Zip Code)</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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Registrant&#x2019;s telephone number, including area
code:</font></div>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
(321) 984-1414</font></div>
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______________________________________________</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Former name or former address, if changed since last
report</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;<br></font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
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:</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
[&#xA0;&#xA0;]&#xA0;&#xA0;Written communications pursuant to Rule
425 under the Securities Act (17 CFR 230.425)</font><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
[X]&#xA0;&#xA0;Soliciting material pursuant to Rule 14a-12 under
the Exchange Act (17 CFR 240.14a-12)</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
[&#xA0;&#xA0;]&#xA0;&#xA0;Pre-commencement communications pursuant
to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))</font><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
[&#xA0;&#xA0;]&#xA0;&#xA0;Pre-commencement communications pursuant
to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Securities registered pursuant to Section 12(b) of the
Act:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div>
<table cellpadding="0" cellspacing="0" style="width: 100%; font-family: Times New Roman; font-size: 13px">
<tr>
<td style="vertical-align: bottom; width: 35%; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: -48px">
<font style="font-family: Times New Roman; font-size: 13px">Title
of Each Class</font></div>
</td>
<td style="vertical-align: bottom; width: 2%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 23%; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: -48px">
<font style="font-family: Times New Roman; font-size: 13px">Trading
Symbol(s)</font></div>
</td>
<td style="vertical-align: bottom; width: 2%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 39%; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: -48px">
<font style="font-family: Times New Roman; font-size: 13px">Name of
Each Exchange on Which Registered</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 35%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: -48px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">Common
Stock, par value $.60 per share</font></div>
</td>
<td style="vertical-align: bottom; width: 2%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 23%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: -48px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">BKTI</font></div>
</td>
<td style="vertical-align: bottom; width: 2%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 39%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: -48px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">NYSE
American</font></div>
</td>
</tr></table>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Indicate
by check mark whether the registrant is an emerging growth company
as defined in Rule 405 of the Securities Act of 1933
(&#xA7;&#x2009;230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (&#xA7;&#x2009;240.12b-2 of this
chapter).</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Emerging
growth company&#x2003;<font style="color: #000000">[&#xA0;&#xA0;]&#xA0;&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">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.&#x2003; <font style="color: #000000">[&#xA0;&#xA0;]&#xA0;&#xA0;</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
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<a name="id_4"><!--anchor--></a></font></div>
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<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
Item 5.05. <font style="text-decoration: underline">Amendments to
the Registrant&#x2019;s Code of Ethics, or Waiver of a Provision of
the Code of Ethics</font>.<br></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">On
March 25, 2020, the Board of Directors (the &#x201C;Board&#x201D;) of
BK Technologies Corporation (the &#x201C;Company&#x201D;) approved
and adopted amendments to the Code of Ethics for the CEO and Senior
Financial Officers (the &#x201C;Code of Ethics&#x201D;), effective as
of such date. The changes to the Code of Ethics clarify the
reporting requirements pursuant to the Code of Ethics and how
conflicts of interest should be addressed within the Company. The
foregoing description of the amendments to the Code of Ethics is
subject to, and qualified in its entirety by, the full text of the
amended Code of Ethics, which is attached as <a href="bkti_ex14.htm">Exhibit 14</a> to this Current Report on Form 8-K
and is incorporated herein by reference. The Code of Ethics will
also be available on the Company&#x2019;s website at
www.<font style="color: #000000">bktechnologies.com</font>. The
amendments to the Code of Ethics are intended as clarifications and
do not result in any waiver to any officer of the Company, explicit
or implicit, from any provision of the Code of Ethics as in effect
prior to the Board&#x2019;s action to approve amendments to the Code
of Ethics.</font></div>
<div style="text-align: justify; margin-left: 96px; margin-right: 0px; text-indent: -96px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 96px; margin-right: 0px; text-indent: -96px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">Item
8.01. <font style="text-decoration: underline">Other
Events</font>.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">The 2020</font> <font style="color: #000000">Annual Meeting of Stockholders of the Company (the
&#x201C;2020</font> <font style="color: #000000">Annual
Meeting&#x201D;) will be held on Wednesday, June 24, 2020, at 9:00
a.m., local time,</font> at the Company&#x2019;s corporate offices
at 7100 Technology Drive, West Melbourne, Florida 32904<font style="color: #000000">. The record date for determining stockholders
entitled to notice of, and to vote at, the 2020</font> <font style="color: #000000">Annual Meeting was set by the Company&#x2019;s
Board of Directors as April 27, 2020.</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">The
Company intends to hold the 2020 Annual Meeting in person. However,
the Company is actively monitoring the coronavirus (COVID-19) and
is sensitive to the public health and travel concerns that the
Company&#x2019;s stockholders may have and the protocols that
federal, state, and local governments may impose. In the event it
is not possible or advisable to hold the 2020 Annual Meeting in
person, the Company will announce alternative arrangements for the
meeting as promptly as practicable, which may include postponing or
adjourning the meeting or holding the meeting solely by means of
remote communication. Please monitor the 2020 Annual Meeting
website at www.bktechnologies.com, under the &#x201C;Investor
Relations&#x201D; tab and then under &#x201C;Corporate
Governance&#x201D; for updated information. If you are planning to
attend the 2020 Annual Meeting, please check the website one week
prior to the meeting date. As always, the Company encourages its
stockholders to vote their shares prior to the 2020 Annual
Meeting.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
Important Information</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">This
Current Report on Form 8-K may be deemed to be solicitation
material in respect of the solicitation of proxies from
stockholders in connection with the 2020 Annual Meeting. The
Company will file a proxy statement with the Securities and
Exchange Commission (the &#x201C;SEC&#x201D;) in connection with the
2020 Annual Meeting. The proxy statement, any other relevant
documents and other material filed with the SEC concerning the
Company will be, when filed, available free of charge at
www.sec.gov and on the Company&#x2019;s website at
www.bktechnologies.com. Copies may also be obtained, free of
charge, by contacting the Company at (321) 984-1414. Stockholders
are urged to read the proxy statement and any other relevant
documents filed when they become available before making any voting
decision because they will contain important
information.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
Participants in Solicitation</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">The
Company, its directors and executive officers and employees may be
deemed to be participants in the solicitation of proxies from
stockholders in connection with the 2020 Annual Meeting.
Information about the Company&#x2019;s directors and executive
officers and their ownership of the Company&#x2019;s stock is
available in the Company&#x2019;s proxy statement for its 2019
Annual Meeting of Stockholders filed with the SEC on May 17, 2019
and in subsequent SEC filings, including Forms 4. Stockholders are
advised to read the Company&#x2019;s proxy statement for the 2020
Annual Meeting and other relevant documents when they become
available before making any voting decision because they will
contain important information. Stockholders can obtain free copies
of these referenced documents as described above.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">
Item 9.01</font>. <font style="font-weight: bold; text-decoration: underline">Financial
Statements and Exhibits</font><font style="font-weight: bold">.</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 48px"><font style="font-family: Times New Roman; font-size: 13px">(d)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br>
</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Exhibits.</font></div>
</div>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><a href="bkti_ex14.htm">
14</a>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
BK Technologies Corporation Code of Ethics for the CEO and Senior
Financial Officers.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
SIGNATURE</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">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></div>
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<td colspan="2" rowspan="1" style="vertical-align: bottom; width: 38%;">
<div><font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">BK
TECHNOLOGIES CORPORATION</font></div>
</td>
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<td style="vertical-align: top; width: 50%; border-bottom: medium solid rgb(255, 255, 255);">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman"><font style="font-family: Times New Roman; font-size: 13px">Date: March 25,
2020</font></font></div>
</td>
<td style="vertical-align: top; width: 3%; border-bottom: medium solid rgb(255, 255, 255);">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">By:&#xA0;&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 35%; border-bottom: 2px solid black; white-space: nowrap;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">/s/ <font style="font-family: Times New Roman; font-size: 13px">William P.
Kelly</font></font></div>
</td>
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<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
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</td>
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<td style="width: 50%; vertical-align: top;">
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<font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
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<td style="width: 3%; vertical-align: top;">
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<font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman"><font style="font-family: Times New Roman; font-size: 13px">William P.
Kelly</font>&#xA0;</font></div>
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<td style="width: 12%; vertical-align: top;">
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<font style="font-size: 13px; font-family: Times New Roman"><font style="font-family: Times New Roman; font-size: 13px">Executive Vice
President and</font></font></div>
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;"><font style="font-family: Times New Roman; font-size: 13px">Chief Financial
Officer</font><br></font></div>
</td>
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<font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
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<DOCUMENT>
<TYPE>EX-14
<SEQUENCE>2
<FILENAME>bkti_ex14.htm
<DESCRIPTION>CODE OF ETHICS
<TEXT>
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<title>bkti_ex14</title>
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&#xA0; <font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">Exhibit 14</font><br></font></div>
</div>
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BK TECHNOLOGIES<font style="text-decoration: underline; color: #FF0000"><font style="text-decoration: line-through">, INC.</font></font> <font style="text-decoration: underline; color: #0070C0">CORPORATION</font>
(the &#x201C;Company&#x201D;)</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
<a name="_Toc56308050"><!--anchor--></a>CODE OF
ETHICS FOR THE CEO AND SENIOR FINANCIAL OFFICERS</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">The
Company has a Code of Business Conduct and Ethics applicable to all
directors and employees of the Company <font style="text-decoration: underline; color: #0070C0">and its
subsidiaries</font>. The Chief Executive Officer and all senior
financial officers, including the Chief Financial Officer and
principal accounting officer, are bound by the provisions set forth
therein relating to ethical conduct, conflicts of interest, and
compliance with law. In addition to the Code of Business Conduct
and Ethics, the Chief Executive Officer and senior financial
officers are subject to the following additional specific
policies:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">1.</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The Chief Executive
Officer and all senior financial officers are responsible for full,
fair, accurate, timely, and understandable disclosure in the
periodic reports required to be filed by the Company with the
Securities and Exchange Commission. Accordingly, it is the
responsibility of the Chief Executive Officer and each senior
financial officer promptly to bring to the attention of the
Disclosure Committee, if applicable, and to the Audit Committee any
material information of which he or she may become aware that
affects the disclosures made by the Company in its public filings
or otherwise assist the Disclosure Committee, if applicable, and
the Audit Committee in fulfilling their
responsibilities.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">2.</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The Chief Executive
Officer and each senior financial officer shall promptly bring to
the attention of the Disclosure Committee, if applicable, and the
Audit Committee any information he or she may have concerning (a)
significant deficiencies in the design or operation of internal
controls that could adversely affect the Company&#x2019;s ability to
record, process, summarize, and report financial data or (b) any
fraud, whether or not material, that involves management or other
employees who have a significant role in the Company&#x2019;s
financial reporting, disclosures, or internal
controls.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="color: #0070C0; font-family: Times New Roman; font-size: 13px">3.</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The Chief Executive
Officer and each senior financial officer shall promptly bring to
the attention of the Audit Committee any information he or she may
have concerning any violation of this Code or the Company&#x2019;s
Code of Business Conduct and Ethics<font style="text-decoration: line-through"><font style="text-decoration: line-through; color: rgb(255, 0, 0);">, including
any actual or apparent conflicts of interest between personal and
professional relationships,</font></font> involving any management
or other employees who have a significant role in the
Company&#x2019;s financial reporting, disclosures, or internal
controls. <font style="text-decoration: underline; color: #0070C0">The Chief Executive
Officer and all senior financial officers shall disclose any
material transaction or relationship that reasonably could be
expected to give rise to a conflict of interest to the Chair of the
Audit Committee so that the Audit Committee can review such
transaction or relationship.</font></font></div>
</div>
</div>
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<font style="font-family: Times New Roman; font-size: 13px">4.</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The Chief Executive
Officer and each senior financial officer shall promptly bring to
the attention of the Disclosure Committee, if applicable, and the
Audit Committee any information he or she may have concerning
evidence of a material violation of the securities or other laws,
rules, or regulations applicable to the Company and the operation
of its business, by the Company or any agent thereof, or of
violation of the Code of Business Conduct and Ethics or of these
additional procedures.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">5.</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The Board of
Directors shall determine, or designate appropriate persons to
determine, appropriate actions to be taken in the event of
violations of the Code of Business Conduct and Ethics or of these
additional procedures by the Chief Executive Officer and the
Company&#x2019;s senior financial officers. Such actions shall be
reasonably designed to deter wrongdoing and to promote
accountability for adherence to the Code of Business Conduct and
Ethics and to these additional procedures, and may include written
notices to the individual involved that the Board has determined
that there has been a violation, censure by the Board, demotion or
re-assignment of the individual involved, suspension with or
without pay or benefits (as determined by the Board), and
termination of the individual&#x2019;s employment. In determining
the appropriate action in a particular case, the Board of Directors
or such designee shall take into account all relevant information,
including the nature and severity of the violation, whether the
violation was a single occurrence or repeated occurrences, whether
the violation appears to have been intentional or inadvertent,
whether the individual in question had been advised prior to the
violation as to the proper course of action, and whether or not the
individual in question had committed other violations in the
past.</font></div>
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<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
Last Revised as of <font style="text-decoration: underline; color: #FF0000"><font style="text-decoration: line-through">June 4,
2018</font></font><font style="text-decoration: underline; color: #0070C0">March 25,
2020</font></font></div>
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</SEC-DOCUMENT>
