Summary
This filing is an amendment to a previous 8-K report, specifically addressing previously unfinalized compensation arrangements for Mr. Craig Pintoff upon his appointment as General Counsel. The amendment clarifies that Mr. Pintoff's base salary has been increased to $475,000 from $424,000, effective immediately. Additionally, his annual bonus target has been set at 80% of his base salary, contingent upon meeting established goals. Investors should note the equity component of his compensation, which includes an award of restricted stock units valued at $500,000, with vesting spread over three years.
Key Highlights
- 1Amendment clarifies compensation for newly appointed General Counsel, Mr. Craig Pintoff.
- 2Mr. Pintoff's base salary increased from $424,000 to $475,000, effective immediately.
- 3Annual bonus target for Mr. Pintoff set at 80% of base salary, performance-based.
- 4Mr. Pintoff received a $500,000 restricted stock unit award.
- 5The restricted stock unit award vests one-third on each of the first, second, and third anniversaries of the grant date.
- 6This amendment provides final details on compensation that were not complete in the original filing.