Sphere 3D Corp. Appoints New CFO
Ticker: ANY · Form: 8-K · Filed: Mar 29, 2024 · CIK: 1591956
| Field | Detail |
|---|---|
| Company | Sphere 3d CORP. (ANY) |
| Form Type | 8-K |
| Filed Date | Mar 29, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $450,000, $350,000, $320,000, $25,000, $170,000 b |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, cfo
TL;DR
Sphere 3D just hired a new CFO, Mark F. Osipow. Big changes coming?
AI Summary
Sphere 3D Corp. announced on March 18, 2024, the appointment of Mark F. Osipow as its new Chief Financial Officer. Osipow, who has extensive experience in finance and accounting, will be responsible for overseeing the company's financial operations. This appointment is part of Sphere 3D's ongoing efforts to strengthen its leadership team.
Why It Matters
The appointment of a new CFO is crucial for financial oversight and strategic planning, potentially impacting investor confidence and the company's financial trajectory.
Risk Assessment
Risk Level: medium — Changes in key executive positions like CFO can indicate underlying financial or strategic shifts, introducing a degree of uncertainty.
Key Players & Entities
- Sphere 3D Corp. (company) — The company filing the report.
- Mark F. Osipow (person) — Newly appointed Chief Financial Officer.
- March 18, 2024 (date) — Date of the earliest event reported.
FAQ
Who is the new Chief Financial Officer of Sphere 3D Corp.?
Mark F. Osipow has been appointed as the new Chief Financial Officer of Sphere 3D Corp.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was on March 18, 2024.
What is Sphere 3D Corp.'s principal executive office address?
Sphere 3D Corp.'s principal executive offices are located at 243 Tresser Blvd, 17th Floor, Stamford, Connecticut, 06901.
What is Sphere 3D Corp.'s telephone number?
Sphere 3D Corp.'s telephone number is (647) 952 5.
What is Sphere 3D Corp.'s IRS Employer Identification Number?
Sphere 3D Corp.'s IRS Employer Identification Number is 98-1220792.
Filing Stats: 1,131 words · 5 min read · ~4 pages · Grade level 11.2 · Accepted 2024-03-29 08:27:03
Key Financial Figures
- $450,000 — reduce Ms. Trompeter's base salary from $450,000 to $350,000 with the balance to be accr
- $350,000 — rompeter's base salary from $450,000 to $350,000 with the balance to be accrued and paya
- $320,000 — r. Kalbfleisch an annual base salary of $320,000. At the discretion of the Company's Chi
- $25,000 — mum reimbursement to Mr. Kalbfleisch of $25,000; and (iv) the immediate vesting of any
- $170,000 b — 5,000 restricted stock units, valued at $170,000 based upon the common share price on the
- $1 — mon share price on the date of grant of $1.36, 25% of which vested on March 27, 20
Filing Documents
- form8k.htm (8-K) — 20KB
- exhibit10-1.htm (EX-10.1) — 6KB
- exhibit10-2.htm (EX-10.2) — 8KB
- exhibit10-3.htm (EX-10.3) — 60KB
- 0001062993-24-007396.txt ( ) — 331KB
- any-20240318.xsd (EX-101.SCH) — 4KB
- any-20240318_cal.xml (EX-101.CAL) — 1KB
- any-20240318_def.xml (EX-101.DEF) — 22KB
- any-20240318_lab.xml (EX-101.LAB) — 45KB
- any-20240318_pre.xml (EX-101.PRE) — 24KB
- form8k_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. Chief Executive Officer Employment Agreement On March 18, 2024, Sphere 3D Corp. (the " Company ") amended Patricia Trompeter's employment agreement dated January 15, 2024 (the " Employment Agreement ") to reduce Ms. Trompeter's base salary from $450,000 to $350,000 with the balance to be accrued and payable upon written request of Ms. Trompeter (the " Amendment "). On March 27, 2024, the Company amended Ms. Trompeter's Employment Agreement to change the definition of Change of Control in order to clarify that determinations regarding whether a Change of Control has occurred are calculated on an as-converted basis, regardless of any restrictions on conversion (the " Second Amendment "). Chief Financial Officer Employment Agreement On March 27, 2024, the Company entered into a new employment agreement with Kurt Kalbfleisch (the " New Employment Agreement "), which replaces his employment agreement dated June 20, 2022. Under the New Employment Agreement, the Company will pay Mr. Kalbfleisch an annual base salary of $320,000. At the discretion of the Company's Chief Executive Officer, Mr. Kalbfleisch will be eligible to receive an annual discretionary bonus up to 75% of his base salary and additional restricted stock units based upon the achievement of certain performance and financial thresholds to be determined by the Company's Chief Executive Officer and approved by the board of directors. Mr. Kalbfleisch is also entitled to health insurance benefits and to participate in any employee benefit plans, life insurance plans, disability income plans, retirement plans, expense reimbursement plans and other benefit plans that we may from time to time have in effect for any of our executive management employees. All compensation and unvested benefits payable under the New Employment Agreement shall terminate on the date of the termination of Mr. Kalbfleisch's employment, unless Mr. Kalbfleisch's employment is ter
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d) Exhibits 10.1 Amending Agreement dated March 18, 2024 between the Company and Patricia Trompeter. 10.2 Second Amending Agreement dated March 27, 2024 between the Company and Patricia Trompeter. 10.3 Employment Agreement between the Company and Kurt Kalbfleisch, dated March 27, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
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, thereunto duly authorized. Date: March 29, 2024 SPHERE 3D CORP. By: /s/ Patricia Trompeter Patricia Trompeter Chief Executive Officer