Aeries Technology Reports Director/Officer Changes & Financials
Ticker: AERTW · Form: 8-K · Filed: Jun 11, 2024 · CIK: 1853044
Sentiment: neutral
Topics: corporate-governance, officer-changes, director-changes, financials
Related Tickers: AERT
TL;DR
Aeries Tech (AERT) filed an 8-K for director/officer changes and financials as of June 8th.
AI Summary
Aeries Technology, Inc. filed an 8-K on June 11, 2024, reporting events as of June 8, 2024. The filing pertains to the departure of directors or certain officers, the election of directors, the appointment of certain officers, and compensatory arrangements for certain officers. It also includes financial statements and exhibits.
Why It Matters
Changes in a company's board of directors and executive officers, along with financial disclosures, can signal shifts in strategy or operational performance that may impact investors.
Risk Assessment
Risk Level: medium — Changes in directors and officers, especially if accompanied by details on compensation or departures, can indicate internal shifts that may affect future company performance.
Key Players & Entities
- Aeries Technology, Inc. (company) — Registrant
- Worldwide Webb Acquisition Corp. (company) — Former Company Name
- June 8, 2024 (date) — Date of earliest event reported
- June 11, 2024 (date) — Date of Report
FAQ
What specific events are detailed in the 8-K filing regarding directors and officers?
The filing reports on the departure of directors or certain officers, the election of directors, the appointment of certain officers, and compensatory arrangements of certain officers.
What is the date of the report and the earliest event reported?
The Date of Report is June 11, 2024, and the date of the earliest event reported is June 8, 2024.
What was Aeries Technology, Inc.'s former company name?
Aeries Technology, Inc.'s former company name was Worldwide Webb Acquisition Corp.
What is the SEC file number for Aeries Technology, Inc.?
The SEC file number for Aeries Technology, Inc. is 001-40920.
What other items are included in this 8-K filing besides director and officer information?
The filing also includes Financial Statements and Exhibits.
Filing Stats: 788 words · 3 min read · ~3 pages · Grade level 13.3 · Accepted 2024-06-11 17:00:19
Key Financial Figures
- $0.0001 — ed Class A ordinary shares, par value $0.0001 per share AERT Nasdaq Capital Marke
- $11.50 — ordinary share at an exercise price of $11.50 AERTW Nasdaq Capital Market Indic
Filing Documents
- aeriestechnology_8k.htm (8-K) — 35KB
- aeriestechnology_ex10-1.htm (EX-10.1) — 9KB
- 0001829126-24-004083.txt ( ) — 266KB
- aert-20240608.xsd (EX-101.SCH) — 4KB
- aert-20240608_def.xml (EX-101.DEF) — 26KB
- aert-20240608_lab.xml (EX-101.LAB) — 36KB
- aert-20240608_pre.xml (EX-101.PRE) — 25KB
- aeriestechnology_8k_htm.xml (XML) — 6KB
02 Departure of Directors or Certain Officers; Election of Directors; Appointment
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Amendment No. 1 to the 2023 Equity Incentive Plan On June 8, 2024, the Board of Directors (the "Board") of Aeries Technology, Inc. (the "Company"), upon recommendation of the Compensation Committee of the Board (the "Committee"), approved Amendment No. 1 (the "Plan Amendment") to the Company's 2023 Equity Incentive Plan (the "Plan"). The Plan Amendment provided for (i) increasing the total number of Class A ordinary shares authorized under the Plan to 11,928,287 shares (the "New Share Reserve"), (ii) amending the "evergreen" provision in the Plan to automatically increase the New Share Reserve by 5% on an annual basis or by such lesser amount that the Committee may determine (the "Evergreen Provision"), and (iii) removing the annual limits on issuing awards to a single individual under Sections 5(d) and 5(e) of the Plan. The portions of the Plan Amendment relating to the New Share Reserve and the Evergreen Provision will be submitted to the Company's shareholders for approval and will only become effective upon such approval. The foregoing description of the Plan Amendment is a summary and is qualified in its entirety by reference to the Plan Amendment filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference. Amendments to Executive Employment Agreements On June 8, 2024, the Board and the Committee approved certain amendments to the employment agreements of the Company's Chief Executive Officer, Sudhir Appukuttan Panikassery, two other named executive officers, Bhisham Khare and Unnikrishnan Nambiar, and Chief Financial Officer, Rajeev Gopala Krishna Nair. Pursuant to the amendments, among other minor revisions, (i) Mr. Panikassery's employment agreement was assigned from the Company to its subsidiary, Aeries Technology Middle East Ltd., such that Mr. Panikassery's e
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit No. Description 10.1 Amendment No. 1 to the 2023 Equity Incentive Plan. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 1 SIGNATURE 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. Date: June 11, 2024 AERIES TECHNOLOGY, INC. A Cayman Islands exempted company By: /s/ Sudhir Appukuttan Panikassery Name: Sudhir Appukuttan Panikassery Title: Chief Executive Officer and Director 2