Abacus Life Files 8-K: Notes Agreement, Officer Changes

TL;DR

Abacus Life inked a deal for fixed unsecured notes and shuffled some execs/directors.

AI Summary

On December 13, 2024, Abacus Life, Inc. entered into a material definitive agreement related to fixed unsecured notes. The filing also disclosed the departure of directors or certain officers, the election of directors, and the appointment of certain officers, along with details on compensatory arrangements for these officers.

Why It Matters

This filing indicates significant corporate actions including new debt financing and potential changes in leadership or compensation structures, which could impact the company's financial health and strategic direction.

Risk Assessment

Risk Level: medium — The filing involves material definitive agreements and changes in corporate governance, which can introduce uncertainty and potential financial risks.

Key Players & Entities

• Abacus Life, Inc. (company) — Registrant
• December 13, 2024 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of incorporation
• East Resources Acquisition Co (company) — Former company name
• 20200605 (date) — Date of former company name change

FAQ

Key Financial Figures

• $0.0001 — ich registered Common stock, par value $0.0001 per share ABL The NASDAQ Capital Market
• $11.50 — of common stock at an exercise price of $11.50 per share ABLLW The NASDAQ Capital Mark

Filing Documents

• abl-20241213.htm (8-K) — 32KB
• exhibit101-formofabacusrsu.htm (EX-10.1) — 52KB
• 0001814287-24-000074.txt ( ) — 264KB
• abl-20241213.xsd (EX-101.SCH) — 3KB
• abl-20241213_def.xml (EX-101.DEF) — 16KB
• abl-20241213_lab.xml (EX-101.LAB) — 28KB
• abl-20241213_pre.xml (EX-101.PRE) — 17KB
• abl-20241213_htm.xml (XML) — 5KB

01 Entry Into a Material Definitive Agreement

Item 1.01 Entry Into a Material Definitive Agreement On December 13, 2024, the Compensation Committee of the Board of Directors (the "Committee") of Abacus Life, Inc. (the "Company") adopted a form of Restricted Stock Unit Award Agreement, a form of which is attached as Exhibit 10 hereto (the "RSU Award Agreement") in connection with the Company's Amended and Restated 2024 Long-Term Equity Compensation Incentive Plan (the "Plan"). Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers On December 13, 2024, the Compensation Committee approved the grant of 125,000 restricted stock units (the "RSUs") to the Company's chief financial officer, William H. McCauley, Jr. pursuant to the Plan and a RSU Award Agreement. On each of the first three anniversaries of the grant day one third (1/3) of the RSUs will vest and be converted to the Company's common stock (or, at the Company's option, the cash equivalent). Mr. McCauley must remain employed through the end of the applicable vesting period to receive any award under the Plan, except that he may be entitled to a prorated portion of the award in the event of involuntary termination without cause, death, disability or retirement. In addition, in the event of such a termination in connection with a change in control, all unvested awards generally vest immediately. A change in control is defined in the Plan generally as an event that would be considered as a change in control in the Treasury Regulations published under Section 409A of the Code.

01. Financial Statement and Exhibits

Item 9.01. Financial Statement and Exhibits (d) Exhibits Exhibit Number Exhibit Description 10.1 Form of Restricted Stock Unit Award granted under the Abacus Life, Inc. Amended and Restated 2024 Long-Term Equity Incentive Plan. 104 Cover Page Interactive Data File (formatted as inline XBRL).

Forward Looking Statements

Forward Looking Statements This Current Report on Form 8-K and certain of the materials furnished or filed herewith contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, statements regarding Abacus' acquisition. The words "may," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," "predict," "project," "potential," "continue," "target" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements. These and other risks and uncertainties are described in greater detail in the section entitled "Risk Factors" in Abacus' most recent annual report on Form 10-K, as amended, and quarterly reports on Form 10-Q filed with the SEC, as well as discussions of potential risks, uncertainties, and other important factors in Abacus' other filings with the SEC. Any forward-looking statements represent Abacus' views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date. Abacus explicitly disclaims any obligation to update any forward-looking statements, except as required by law.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized. Abacus Life, Inc. (Registrant) Date: December 13, 2024 By: /s/ Jay Jackson Name: Jay Jackson Title: Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR