Subsequent Event

6 Months Ended

Jun. 30, 2017

15.

Subsequent Event

Effective July 1, 2017, the Board of Directors elected Jin H. Kang as the Company’s new Chief Executive Officer and expanded Jason Holloway’s Executive Vice President and Chief Sales and Marketing position to include the title of Chief Executive Officer and President of the Company’s wholly-owned subsidiary WidePoint Cybersecurity Solutions Corporation in connection with a restructuring of the Company’s management team. In connection with Mr. Kang’s appointment as the Company’s Chief Executive Officer, Mr. Kang was appointed as a Class I Director of the Company to fill an existing vacancy on the Board.

On July 20, 2017, the Company entered into an appointment and standstill agreement with its significant stockholder, Nokomis Capital, L.L.C., pursuant to which, among other things, the Company agreed to immediately appoint Alan Howe and Philip Richter as Class II directors of the Company and as members of the Corporate Governance and Nominating Committee and the Compensation Committee of the Board and to nominate them for election at the Company’s 2017 Annual Meeting of Stockholders. As part of the agreement, Nokomis, among other things, agreed to customary standstill commitments during the term of the agreement and to vote its shares in favor of the Board's recommendations regarding director elections and other matters to be submitted to a vote at the 2017 Annual Meeting of Stockholders. The term of the agreement expires on the date that is thirty days prior to the deadline related to nominations by stockholders of directors for election at the Company’s 2018 Annual Meeting of Stockholders.