BK Technologies Corp (Form: 8-K, Received: 07/20/2021 13:43:47)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):

July 19, 2021

BK Technologies Corporation

(Exact name of registrant as specified in its charter)

Nevada	001-32644	83-4064262
(State or other jurisdiction of	(Commission	(IRS Employer
incorporation or organization)	File No.)	Identification Number)


7100 Technology Drive, West Melbourne, FL	32904
(Address of principal executive offices)	(Zip Code)

(321) 984-1414

(Registrant’s telephone number including area code)

N/A

(Former name or former address, if changed since last report)

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 (see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class	Trading Symbol(s)	Name of Each Exchange on Which Registered
Common Stock, par value $.60 per share	BKTI	NYSE American

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company [ ]

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. [ ]

Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Appointment of John M. Suzuki

The Board of Directors (the “Board”) of BK Technologies Corporation (the “Company”) has appointed John M. Suzuki, 57, to serve as the Chief Executive Officer of the Company, effective July 19, 2021. Mr. Suzuki was also appointed to fill a newly created seat on the Board and will receive no additional compensation for his service as a director. Mr. Suzuki’s appointment is the result of a thorough executive search plan that was developed by the Board.

Suzuki Employment Agreement and Experience

In connection with Mr. Suzuki’s appointment, the Company and Mr. Suzuki entered into an employment agreement (the “Employment Agreement”) to be effective as of July 19, 2021. Pursuant to the Employment Agreement, Mr. Suzuki will have the duties and responsibilities as are commensurate with the position of Chief Executive Officer, as reasonably and lawfully directed by the Board. The Employment Agreement is an at-will agreement.

Pursuant to the Employment Agreement, Mr. Suzuki’s base salary will be $350,000, and he is entitled to incentive bonus compensation and equity compensation, as determined by the Compensation Committee of the Board (the “Compensation Committee”). In connection with his employment, Mr. Suzuki will be granted an option to purchase up to 100,000 shares of the Company’s common stock. The option to purchase common stock was approved by the Compensation Committee, will be granted pursuant to a Stock Option Grant Agreement between the Company and Mr. Suzuki and will be governed by the Company’s 2017 Incentive Compensation Plan. The Company has the right to terminate Mr. Suzuki’s employment at any time for any reason, with or without cause. Additionally, Mr. Suzuki has the right to resign at any time for any reason. In the event the Company terminates Mr. Suzuki’s employment without cause, (i) the Company agreed to pay Mr. Suzuki an amount equal to 12 months of Mr. Suzuki’s base salary in effect at the time of the termination over a 12-month period; (ii) if Mr. Suzuki elects in a proper and timely manner, the Company agreed to pay Mr. Suzuki’s COBRA premiums for a 12-month period following termination; and (iii) all unvested stock options held by Mr. Suzuki will become fully vested and exercisable, subject to certain conditions set forth in the Employment Agreement. If Mr. Suzuki is terminated for cause, he will not be entitled to any severance.

The preceding description of the Employment Agreement is a summary of its material terms, does not purport to be complete, and is qualified in its entirety by reference to the Employment Agreement, a copy of which is being filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Since May 2019, Mr. Suzuki has served as Chief Strategy Officer of Imperium Leadership, where he has overseen the development and growth of the business. From May 2015 through May 2019, he served as President and CEO of EFJohnson Technologies, a two-way radio manufacturer. From 2011 through 2015, Mr. Suzuki served in a variety of leadership positions, including as Senior Vice President of Sales for AVTEC Incorporated, and Vice President of Sales and Marketing for 3eTechnologies International, a subsidiary of UltraElectronics. From 2004 through 2011, Mr. Suzuki served as Senior Vice President, Sales of EFJohnson Technologies. Mr. Suzuki has a broad background in general management, strategy, product development, sales, marketing, supply chain, operations and engineering, and mergers and acquisitions. He is a strategic thinker with extensive experience in developing and growing new business opportunities. Mr. Suzuki holds a bachelor’s degree in electrical engineering from the University of Ottawa and an MBA from Duke University. Mr. Suzuki brings extensive experience in the land mobile radio industry and executive leadership to the Board. Based on his experience and background, the Board has concluded that Mr. Suzuki is qualified to serve as a director of the Company.

There are no arrangements or understandings between Mr. Suzuki and any other persons pursuant to which he was appointed as Chief Executive Officer or director. There are also no family relationships between Mr. Suzuki and any of our directors or executive officers, and he has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K, other than as set forth herein.

Item 7.01

Regulation FD Disclosure

On July 20, 2021, the Company issued a press release announcing the appointment of Mr. Suzuki. A copy of the press release is furnished herewith as Exhibit 99.1.

Item 9.01

Financial Statements and Exhibits

(d) Exhibits.

Exhibit No.	Description of Exhibit

10.1 99.1	Employment Agreement Press Release

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	BK TECHNOLOGIES CORPORATION


Date: July 20, 2021		By:	/s/ William P. Kelly
		William P. Kelly
		Executive Vice President and Chief Financial Officer

Exhibit 10.1

EMPLOYMENT AGREEMENT

This EMPLOYMENT AGREEMENT (this “Agreement”) is made and entered into as of July 19, 2021, by and among BK Technologies, Inc., a Nevada corporation, BK Technologies Corporation, a Nevada Corporation (collectively, the “Company”), and John M. Suzuki, an individual (the “Executive”).

The Company desires to employ the Executive as an executive of the Company, and the parties desire to enter into this Agreement with respect to such employment.

NOW, THEREFORE, in consideration of the mutual promises and covenants herein contained, the parties hereto intending to become legally bound hereby agree as follows:

1. Employment. The Company hereby agrees to employ the Executive, and the Executive hereby agrees to be employed by the Company, upon the terms and conditions hereinafter set forth.

2. Duties and Services.

2.1 Title and Duties. The Executive shall serve as Chief Executive Officer of the Company and an uncompensated member of the Board of Directors. The Executive shall also serve as an officer of such additional subsidiaries and affiliates of the Company as the Executive and the Board of Directors of the Company (the “Board of Directors”) mutually agree from time to time. The Executive shall perform such duties as are customary for the Chief Executive Officer of a publicly-traded company registered with the SEC and listed for trading on a national securities exchange and such other duties as may be assigned to him from time to time by the Board of Directors of the Company. The Executive shall report to the Board of Directors of the Company in carrying out the Executive’s duties. The Executive shall serve as the principal executive officer of the Company for SEC reporting purposes.

2.2 Time. The Executive shall devote his full business time and attention to the business of the Company and to the promotion of the Company’s best interest, subject to vacations, holidays and normal illnesses pursuant to the Company’s policies in place from time to time. The Executive shall at all times comply with Company policies in place from time to time, including but not limited to the Company’s Code of Ethics.

2.3 Travel. The Executive shall undertake such travel as may be necessary and desirable to promote the business and affairs of the Company, consistent with the Executive’s position and duties with the Company.

3. Term of Employment. The Executive’s employment will be “at-will,” meaning that either the Executive or the Company may terminate the Executive’s employment at any time and for any reason, with or without cause.

4. Compensation.

4.1 Base Salary. For the services to be rendered by the Executive pursuant to this Agreement, the Company shall pay the Executive an annual base salary of $350,000 (the “Base Salary”). The compensation paid hereunder to the Executive shall be paid in accordance with the normal payroll practices of the Company and shall be subject to the customary withholding taxes and other employment taxes as required with respect to compensation paid by the Company to an employee. The Base Salary will be subject to annual review and adjustment by the Compensation Committee of the Company’s Board of Directors based upon the Executive’s performance thereafter.

4.2 Bonuses. Commencing with respect to the Company’s 2021 fiscal year, the Executive will be eligible to receive an annual bonus of 50% of the Executive’s Base Salary at target based on a sliding scale basis, payable in cash, as determined by the Compensation Committee of the Company’s Board of Directors, and will be paid within two and a half (2 ½) months after the end of the applicable calendar year. The bonus will be subject to the achievement of performance metrics, goals, objectives and/or other criteria as determined by the Compensation Committee of the Company’s Board of Directors. Upon execution of this Agreement, the Executive shall also be granted an option to purchase up to 100,000 shares of common stock of the Company. Consideration of additional equity incentive awards will be made annually by the Compensation Committee of the Company’s Board of Directors based upon the Executive’s performance. Any equity award shall be evidenced by and subject to the terms and conditions of an Award Agreement (as defined under the Company’s 2017 Incentive Compensation Plan (the “2017 Plan”)) entered into between the Company and the Executive.

4.3 Severance. In the event this Agreement is terminated by the Company without Cause, then the Company shall pay the Executive an amount equal to twelve (12) months of the Executive’s Base Salary in effect at the time of the termination, provided that the same may be payable by the Company over a twelve (12)-month period in accordance with the Company’s normal payroll practices and subject to applicable law, at the Company’s discretion. If Executive timely and properly elects continuation health coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), the Company shall pay Executive’s COBRA premiums for a period of twelve (12) months following the termination date. In addition, the Company shall pay to Executive any accrued bonus amount as determined by the Compensation Committee within thirty (30) days of the termination date. All outstanding unvested stock options granted to Executive during Executive’s employment with the Company shall become fully vested and exercisable. The severance shall commence as of the effective date of such termination. If the Executive is terminated for Cause, the Executive shall not be entitled to any severance under this Agreement. For purposes of this Agreement, “Cause” shall exist if the Executive (i) acts dishonestly or incompetently or engages in willful misconduct in performance of his executive duties, (ii) breaches the Executive’s fiduciary duties owed to the Company, (iii) intentionally fails to perform duties assigned to him, (iv) is convicted or enters a plea of guilty or nolo contendere with respect to any felony crime involving dishonesty or moral turpitude, and/or (v) breaches his obligations under this Agreement.

4.4 Change in Control Bonus. Upon the occurrence of a Change in Control (as defined in the 2017 Plan), Executive shall be entitled to receive a lump sum payment equal to one (1) times Executive’s most recent annual salary, payable within thirty (30) days following the effective date of such Change in Control. Notwithstanding the foregoing, a Change in Control shall not occur unless such transaction constitutes a change in the ownership of the Company (including for purposes of this Section 4.4 all persons with whom the Company would be considered a single employer under Internal Revenue Code Section 409A), a change in effective control of the Company, or a change in the ownership of a substantial portion of the Company’s assets under Section 409A.

5. Expenses and Vacation.

5.1 Travel and Entertainment Expense. The Company shall reimburse the Executive for all reasonable and necessary travel and entertainment expenses incurred by Executive in the performance of the Executive’s duties hereunder upon submission of vouchers and receipts evidencing such expenses in accordance with applicable Company policies.

5.2 Vacation. The Executive shall be entitled to vacation of up to five (5) weeks per calendar year, pursuant to the applicable Company policy. All vacations shall be in addition to recognized national holidays. During all vacations, the Executive’s compensation and other benefits as stated herein shall continue to be paid in full. Such vacations shall be taken only at times convenient for the Company, as approved by the executive or body to which the Executive reports pursuant to this Agreement.

6. Company Benefit Programs. In addition to the compensation and the rights provided for elsewhere in this Agreement, the Executive shall be entitled to participate in each plan of the Company now or hereafter adopted and in effect from time to time for the benefit of executive employees of the Company, to the extent permitted by such plans and applicable law. Nothing in this Agreement shall limit the Company’s right to amend, modify and/or terminate any benefit plan, policies or programs at any time for any reason.

7. Restrictive Covenants and Need for Protection. The Executive acknowledges that, because of his senior executive position with the Company, he has or will develop knowledge of the affairs of the Company and its subsidiaries and their relationships with supplies, dealers, distributors and customers such that he could do serious damage to the financial welfare of the Company and/or its subsidiaries should he compete or assist others in competing with the business of the Company and/or its subsidiaries. Consequently, and in consideration of the Executive’s employment with the Company, and for the benefits that the Executive is entitled to receive under this Agreement, and for other good and valuable consideration, the receipt of which he hereby acknowledges, the Executive hereby agrees as follows:

7.1 Confidential Information.

7.1.1 Non-disclosure. Except as the Company may permit or direct in writing, during the term of this Agreement and thereafter, the Executive agrees that the Executive will not disclose to any person or entity any confidential or proprietary information, knowledge or data of the Company or any of its subsidiaries that he may have obtained while in the employ of the Company, relating to any customers, customer lists, methods, distribution, products, services, sales, prices, profits, costs, contracts, inventories, suppliers, dealers, distributors, business prospects, business methods, manufacturing ideas, formulas, plans or techniques, research, trade secrets, or know-how of the Company or any of its subsidiaries. Nothing contained in this Agreement shall limit the Executive’s ability to respond to a lawful subpoena; to make a report to or cooperate with any government agency, including without limitation the ability to participate in an investigation, provide information, and recover any remuneration awarded for doing so; and to comply with any other legal obligations.

7.1.2 Return of Records. All records, documents, software, computers, computer disks, hard drives and any other form of information relating to the business of the Company or any of its subsidiaries that are or were acquired, prepared or created for or by the Executive or that may or did come into the Executive’s possession during the term of the Executive’s employment with the Company, including any and all copies thereof, shall immediately be returned to or, as the case may be, shall remain in the possession of the Company, as of the termination of the Executive’s employment with the Company.

7.2 Covenant Not to Compete. During the Executive’s employment and for a period of one year thereafter, the Executive agrees that he will not participate in or finance, directly or indirectly, for himself or on behalf of any third party, anywhere in the world, as principal, agent, employee, employer, consultant, advisor, investor or partner, or assist in the management of, or own any stock or any other ownership interest in, any business that is competitive with the business of the Company and/or any of its subsidiaries, as conducted at any time during the twelve-month period prior to the time in question. Notwithstanding the foregoing, the ownership of not more than one percent (1%) of the outstanding securities of any company listed on any national securities exchange shall not constitute a violation of this Section, provided that the Executive’s involvement with any such company is solely that of a passive security holder and the Executive discloses such ownership in advance to the Company’s Board of Directors.

7.3 Covenant Not to Solicit. The Executive agrees that he will not, during the Executive’s employment and for a period of one (1) year thereafter:

(a) directly or indirectly, request or advise any of the customers, distributors or dealers of the Company or any of its subsidiaries to terminate or curtail their business with the Company or any of its subsidiaries, or to patronize another business that is competitive with the Company or any of its subsidiaries; or

(b) directly or indirectly, on behalf of himself or any other person or entity, request, advise or solicit any employee of the Company or any of its subsidiaries to leave such employment for any reason.

7.4 Judicial Modification. In the event that any court of law or equity shall consider or hold any aspect of this Section 7 to be unreasonable or otherwise unenforceable, the parties hereto agree that the aspect of this Section so found may be reduced or modified by appropriate order of the court and shall thereafter continue, as so modified, in full force and effect.

7.5 Injunctive Relief. The parties hereto acknowledge that the remedies at law for breach of this Section 7 will be inadequate, and that the Company shall be entitled to injunctive relief for any violation or threatened violation thereof; provided, however, that nothing herein contained shall be construed as prohibiting the Company from pursuing any other remedies available for such breach or threatened breach, including the recovery of damages from the Executive.

8. Inventions and Discoveries. The Executive hereby sells, transfers and assigns to the Company or to any person or entity designated by the Company, all of the Executive’s right, title and interest in and to all inventions, ideas, know how, disclosures and improvements, whether patented or unpatented, and copyrightable material made or conceived by the Executive, solely or jointly, during the term hereof that relate to the products or services of the Company or any of its subsidiaries or which otherwise relate or pertain to the business, functions or operations of the Company or any of its subsidiaries. The Executive agrees to communicate promptly and to disclose to the Company in such form as the Executive may be reasonably requested to do so, all information, details and data pertaining to such inventions, ideas, know how, disclosures and improvements and to execute and deliver to the Company such formal transfers and assignments and such other papers and documents as may be required of the Executive to permit the Company or any person or entity designated by the Company to file and prosecute the applicable patent applications, and, as to copyrightable material, to obtain copyrights thereof.

9. Tax Withholding. All payments made and benefits provided by the Company under this Agreement shall be reduced by any tax or other amounts required to be withheld by the Company under applicable law.

10. Section 409A.

10.1 General Compliance. This Agreement is intended to comply with Section 409A or an exemption thereunder and shall be construed and administered in accordance with Section 409A. Notwithstanding any other provision of this Agreement, payments provided under this Agreement may only be made upon an event and in a manner that complies with Section 409A or an applicable exemption. Any payments under this Agreement that may be excluded from Section 409A either as separation pay due to an involuntary separation from service or as a short-term deferral shall be excluded from Section 409A to the maximum extent possible. For purposes of Section 409A, each installment payment provided under this Agreement shall be treated as a separate payment. Any payments to be made under this Agreement upon a termination of employment shall only be made upon a ““separation from service”“ under Section 409A. Notwithstanding the foregoing, the Company makes no representations that the payments and benefits provided under this Agreement comply with Section 409A, and in no event shall the Company be liable for all or any portion of any taxes, penalties, interest, or other expenses that may be incurred by the Executive on account of non-compliance with Section 409A.

10.2 Specified Employees. Notwithstanding any other provision of this Agreement, if any payment or benefit provided to the Executive in connection with the Executive’s termination of employment is determined to constitute “nonqualified deferred compensation” within the meaning of Section 409A and the Executive is determined to be a “specified employee” as defined in Section 409A(a)(2)(b)(i), then such payment or benefit shall not be paid until the first payroll date following the six-month anniversary of the Termination Date or, if earlier, on the Executive’s death (the “Specified Employee Payment Date”). The aggregate of any payments that would otherwise have been paid before the Specified Employee Payment Date shall be paid to the Executive in a lump sum on the Specified Employee Payment Date and thereafter, any remaining payments shall be paid without delay in accordance with their original schedule.

11. Survival of Obligations. All obligations of the Company and the Executive that by their nature involve performance, in any particular instance, after the termination of the Executive’s employment or the term of this Agreement, or that cannot be ascertained to have been fully performed until after the termination of Executive’s employment or the term of this Agreement, will survive the expiration or termination of the term of this Agreement.

12. Officer Resignation. Upon termination of the Executive’s employment with the Company for any reason, the Executive shall resign, as of the date of such termination, from any and all director and officer positions held by the Executive with the Company or any of its parent companies, subsidiaries or affiliates.

13. Miscellaneous. The following miscellaneous sections shall apply to this Agreement:

13.1 Modifications and Waivers. No provision of this Agreement may be modified, waived or discharged unless that modification, waiver or discharge is agreed to in writing by the Executive and the Company. No waiver by either party at any time of any breach by the other party of, or compliance with, any condition or provision of this Agreement to be performed by that other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the time, or at any prior or subsequent time.

13.2 Construction of Agreement. This Agreement supersedes any oral or written agreements between the Executive and the Company and any oral representations by the Company to the Executive with respect to the subject matter of this Agreement.

13.3 Governing Law. The validity, interpretation, construction and performance of this Agreement will be governed by the laws of the State of Florida, notwithstanding any conflict of law provision to the contrary.

13.4 Severability. If any one or more of the provisions of this Agreement, including but not limited to Section 7 hereof, or any word, phrase, clause, sentence or other portion of a provision is deemed illegal or unenforceable for any reason, that provision or portion will be modified or deleted in such a manner as to make this Agreement as modified legal and enforceable to the fullest extent permitted under applicable law. The validity and enforceability of the remaining provisions or portions of this Agreement will remain in full force and effect.

13.5 Counterparts. This Agreement may be executed in two or more counterparts, each of which will take effect as an original and all of which will evidence one and the same agreement.

13.6 Successors and Assigns. This Agreement shall be binding upon, and shall inure to the benefit of the parties hereto and their respective heirs, beneficiaries, personal representatives, successors and assigns. Neither party may assign the party’s rights or obligations under this Agreement, provided that the Company may assign this Agreement to a parent corporation that is created in connection with a merger of the Company with an indirect wholly owned subsidiary as part of a holding company reorganization.

13.7 Entire Agreement. This Agreement contains the entire agreement of the parties. All prior arrangements or understandings, whether written or oral, are merged herein.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date and year first above written.

BK TECHNOLOGIES, INC. By: __/s/ E.G. Payne Name: E.G. Payne Title: Chairman	THE EXECUTIVE By: /s/ John M. Suzuki Name: John M. Suzuki

BK TECHNOLOGIES CORPORATION By: __/s/ E.G. Payne Name: E.G. Payne Title: Chairman

Exhibit 99.1

BK Technologies Appoints Mobile Communications Industry Veteran John Suzuki as Chief Executive Officer

Former JVC Kenwood Exec Tasked with Driving Sales Growth and M&A Strategy

WEST MELBOURNE, FL / ACCESSWIRE / July 20, 2021 / BK Technologies Corporation (NYSE American: BKTI) today announced the appointment of John Suzuki as Chief Executive Officer (CEO), effective July 19, 2021. Mr. Suzuki is a proven leader in the mobile communications sector with broad executive experience including sales and marketing, operations, product development and supply chain.

“We could not be more excited to welcome an executive the caliber of John to the management team,” commented Major General (Ret.) E. Gray Payne, Chairman of the Board of Directors of BK Technologies. “He is a proven technology leader with a distinguished track record of innovation, talent development and revenue growth. We believe that John will be a wonderful addition to our existing leadership team including Tim Vitou, who will remain the President, and we look forward to leveraging John’s extensive expertise and industry relationships to capitalize on the significant opportunity ahead and grow the Company, both organically and inorganically, into a much larger and more profitable business.”

Mr. Suzuki joins BK Technologies following his role as President & CEO of land mobile radio company EF Johnson Technologies, a division of JVCKENWOOD. During his four-year tenure at EF Johnson, revenue doubled with a reduction in overhead. Previously, Mr. Suzuki was Senior Vice President of Sales at Avtec Incorporated, where he instituted new sales processes resulting in double digit revenue growth. From 2011 to 2013, as Vice President, Sales and Marketing at Ultra Electronics 3eTI, Mr. Suzuki helped grow year over year sales 23% in 2012. Earlier in his career, Mr. Suzuki was Senior Vice President, Sales at EF Johnson responsible for all domestic and international sales for their land mobile radio products. In this role, Mr. Suzuki created and implemented a strategic sales plan that grew the state, local and international businesses from $12 million to $72 million between 2004 and 2011 with a significantly enhanced subscriber business and expanded dealer channel sales.

Mr. Suzuki spent most of his early career at Ericsson where he held multiple positions of rising responsibility. Starting as Director of Product Development for Land Mobile Radio he executed new product development programs and marketed TDMA digital, data and network land mobile radio solutions globally, generating sales in excess of $160 million annually. Subsequently, as General Manager, Land Mobile Radio he implemented a strategic sales plan which grew the business by 60%, including a 50% increase in dealer channel sales. As General Manager of Ericsson’s Service Solutions, Mr. Suzuki helped streamline the business and grow the division from $35 million to $85 million in two years. Ultimately, as Vice President, Supply for Ericsson, Mr. Suzuki managed a 400-person team that produced and delivered cellular base stations to customers in over 20 countries and generated over $1 billion in revenues. During his tenure, on time customer delivery performance rose dramatically to over 95%. Mr. Suzuki began his career as a Radio System Engineer, Land Mobile Radio at Motorola Canada. He received his BS in Electrical Engineering from University of Ottawa and MBA from Duke University.

“I’m thrilled to join BK Technologies and lead the Company at such an exciting time,” Suzuki commented. “I have tremendous regard for BK’s strong reputation in the industry, deep customer relationships, and the tremendous progress the team has made evolving the product line, and I’m particularly excited to join the Company as it prepares to launch the BK 9000 product line. I believe that BK has the opportunity to play an important role in the future of the mobile communications industry and I look forward to working closely with the talented team to accelerate innovation, drive sales and create value for our customers and shareholders.”

About BK Technologies

BK Technologies Corporation manufactures high-specification, American-made communications equipment of unsurpassed reliability and value for use by public safety professionals and government agencies. BK Technologies is honored to serve these heroes with reliable equipment when every moment counts. The Company's common stock trades on the NYSE American market under the symbol "BKTI". Maintaining its headquarters in West Melbourne, Florida, BK Technologies can be contacted through its web site at www.bktechnologies.com or directly at 1-800-821-2900.

Forward-Looking Statements

This press release contains certain forward-looking statements that are made pursuant to the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements concern the Company's operations, economic performance and financial condition and are based largely on the Company's beliefs and expectations. These statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks, some of which have been, and may further be, exacerbated by the COVID-19 pandemic, include, among others, the following: changes or advances in technology; the success of our land mobile radio product line; successful introduction of new products and technologies, including our ability to successfully develop and sell our anticipated new multiband product and other related products in the planned new BKR Series product line; competition in the land mobile radio industry; supply chain disruptions and delays; general economic and business conditions, including federal, state and local government budget deficits and spending limitations, any impact from a prolonged shutdown of the U.S. Government, and the ongoing effects of the COVID-19 pandemic; the availability, terms and deployment of capital; reliance on contract manufacturers and suppliers; risks associated with fixed-price contracts; heavy reliance on sales to agencies of the U.S. Government and our ability to comply with the requirements of contracts, laws and regulations related to such sales; allocations by government agencies among multiple approved suppliers under existing agreements; our ability to comply with U.S. tax laws and utilize deferred tax assets; our ability to attract and retain executive officers, skilled workers and key personnel; our ability to manage our growth; our ability to identify potential candidates for, and consummate, acquisition, disposition or investment transactions, and risks incumbent to being a noncontrolling interest stockholder in a corporation; impact of the COVID-19 pandemic on the companies in which the Company holds investments; impact of our capital allocation strategy; risks related to maintaining our brand and reputation; impact of government regulation; rising health care costs; our business with manufacturers located in other countries, including changes in the U.S. Government and foreign governments' trade and tariff policies, as well as any further impact resulting from the COVID-19 pandemic; our inventory and debt levels; protection of our intellectual property rights; fluctuation in our operating results and stock price; acts of war or terrorism, natural disasters and other catastrophic events, such as the COVID-19 pandemic; any infringement claims; data security breaches, cyber-attacks and other factors impacting our technology systems; availability of adequate insurance coverage; maintenance of our NYSE American listing; risks related to being a holding company; and the effect on our stock price and ability to raise equity capital of future sales of shares of our common stock. Certain of these factors and risks, as well as other risks and uncertainties, are stated in more detail in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and in the Company's subsequent filings with the SEC. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements.

Company Contact:

IMS Investor Relations

John Nesbett/Jennifer Belodeau

bktechnologies@imsinvestorrelations.com

(203) 972-9200