Management Change/Compensation (Form 8-K)

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers.

​

As reported previously on Envela Corporation's (the "Company") Form 8-K filed July 7, 2025, Vince A. Ackerson was elected to the Board of Directors to serve until next meeting, to be effective July 14, 2025. On July 14, 2025, Mr. Ackerson assumed his position as an independent director. Mr. Ackerson will serve as an independent director with a term expiring at the Company's Annual Meeting of Stockholders in 2026. Mr. Ackerson is also expected to serve on the Compliance Governance, and Nominating Committee, and the Compensation Committee.

​

Mr. Ackerson was a founding member and served as the Vice Chairman at Texas Capital Bank, the eighth largest bank in Texas by asset size, prior to his retirement in 2021. Mr. Ackerson also served as Chief Lending Officer and President over the five major markets in Texas. Mr. Ackerson holds a Bachelor of Science in Business Administration and a Master of Business Administration from Louisiana State University. Mr. Ackerson is qualified to serve on the Board due to his extensive capital markets experience and executive leadership within a leading financial institution.

​

There is no arrangement or understanding between Mr. Ackerson and any other persons pursuant to which such director was selected as a director nor are there any family relationships between Mr. Ackerson and any of the Company's executive officers and directors. In addition, there are no transactions involving the Company and Mr. Ackerson that are reportable pursuant to Item 404(a) of Regulation S-K.

​

2

​