Juergen Stark, CEO of Turtle Beach Corporation, bought 40,000 shares of Turtle Beach Corporation (Stock Symbol: HEAR) at $8.77 per share for a total amount of $350 thousand on May 14, 2014.
Turtle Beach Corporation is headquartered in Valhalla, New York.
On May 20, 2014, Turtle Beach Corporation (formerly known as Parametric Sound Corporation) filed a Certificate of Amendment to its Articles of Incorporation (the “Charter Amendment”) with the Secretary of State of the State of Nevada, a copy of which is attached hereto as Exhibit 3.1 and is incorporated herein by reference. The Charter Amendment amended the Company’s Articles of Incorporation to effect a change of the Company’s corporate name from “Parametric Sound Corporation” to “Turtle Beach Corporation” (the “Name Change”). The Name Change was approved by the Company’s board of directors on January 30, 2014 and a majority of the Company’s stockholders by written consent on February 26, 2014, and became effective on May 28, 2014.
On May 28, 2014 Turtle Beach Corporation signs IAVI as distributor for HyperSound audio products Turtle Beach added IAVI as a distributor for its HyperSound directional audio speakers. IAVI’s customers will obtain access to HyperSound’s highly directional audio speakers through its network of Pro-AV resellers in North and South America.
According to Capital IQ, Turtle Beach Corporation has a market cap of 389.03 million, and an enterprise value of 449.80 million.
Turtle Beach Corporation, an audio technology company, is engaged in developing, commercializing, and marketing audio technologies under the Turtle Beach and HyperSound brands in the United States, Europe, and internationally. The company offers headset solutions for use across multiple platforms, including video game and entertainment consoles, handheld consoles, personal computers, Macintosh computers, tablets, and mobile devices. It provides audio products for commercial, consumer, and health care markets. The company was formerly known as Parametric Sound Corporation and changed its name to Turtle Beach Corporation in May 2014. Turtle Beach Corporation was founded in 1975 and is based in Valhalla, New York.
Mr. Juergen Stark serves as Chief Executive Officer of VTB Holdings, Inc. (also known as Turtle Beach). Mr. Stark has been the Chief Executive Officer of Parametric Sound Corp. since September 5, 2012 and serves as its President. He served as Corporate Vice President of Productivity Mobile Devices at Motorola Solutions, Inc. (formerly Motorola Inc.) until September 5, 2012. He served as Chief Operating Officer of Mobile Devices and Senior Vice President of Mobile Devices at Motorola Mobility Holdings, Inc. Mr. Stark served as Corporate Vice President of Productivity Mobile Devices at Motorola Inc. and served as its Corporate Vice President of Enterprise of Government & Enterprise Mobility Solutions. Prior to joining Mobile Devices, Mr. Stark served as General Manager of Motorola’s Enterprise Business, responsible both for growing the existing private radio systems and rugged mobile computing devices business, as well as expanding Motorola’s presence in new enterprise markets. Mr. Stark joined Motorola Inc. in July 2003 as General Manager of the Integrated Solutions business, which was comprised of three distinct software businesses, Biometric, Public Safety and Public Service applications. In addition to his responsibilities as General Manager, he led Strategy & Business Development until 2004. He was also given a major role in shaping Motorola’s initial Enterprise strategy. He had merger & acquisition responsibilities as well, which included the acquisition and integration of CRISNET and MeshNetworks. Prior to Motorola, he served as the Chairman and Chief Executive Officer of Centerpost Corporation. He co-founded West Notifications Group Inc., (formerly, Centerpost Communications, Inc.) in 1999 and served as its Chief Executive Officer. Prior to Centerpost Corporation, Mr. Stark served as a Principal at McKinsey & Company, Inc., for 10 years, where he served on the leadership team of the North American Telecom practice. In this capacity, he focused on technology businesses, including information technology, mergers & acquisitions, product management and strategy. Mr. Stark founded Advanced Micro Systems, Inc., where he provided consulting and custom-software design services to a variety of clients, including large manufacturing companies. He served as Corporate Vice President of Enterprise – Government and Enterprise mobility services at Motorola Solutions, Inc. He serves as the Chairman of West Notifications Group. Mr. Stark has been a Director of Voyetra Turtle Beach, Inc. since December 27, 2013. He has been a Director of Parametric Sound Corp. since December 2013. He serves as a Director of Chicagoland Entrepreneurial Center and Access Spectrum, LLC. Mr. Stark serves as a Member of the Mayor’s Council of Technology Advisors and a Board Member of the Chicago Chamber of Commerce Entrepreneurship Center. He also serves on the Board of Trustees for the Hadley School for the Blind. He holds a Bachelor of Science degree in Aerospace Engineering from the University of Michigan in Ann Arbor, Mich., and a Master of Business Administration degree from Harvard Business School in Boston, Mass.
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