KORE Group Holdings Appoints New CFO
Ticker: KORGW · Form: 8-K · Filed: Jul 8, 2024 · CIK: 1855457
| Field | Detail |
|---|---|
| Company | Kore Group Holdings, INC. (KORGW) |
| Form Type | 8-K |
| Filed Date | Jul 8, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $0.0001, $300,000, $200,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, cfo, compensation
TL;DR
KORE Group Holdings names Jeffrey Korden as new CFO, starting July 8th with a $375k salary and stock grants.
AI Summary
KORE Group Holdings, Inc. announced on July 2, 2024, the appointment of Jeffrey A. Korden as Chief Financial Officer, effective July 8, 2024. Korden will receive an annual base salary of $375,000 and will be eligible for a discretionary annual bonus. He will also be granted 150,000 restricted stock units, vesting over three years.
Why It Matters
The appointment of a new CFO is a significant leadership change that can impact financial strategy and investor confidence.
Risk Assessment
Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategies and performance.
Key Numbers
- $375,000 — CFO Annual Salary (This is the base compensation for the new Chief Financial Officer.)
- 150,000 — RSUs Granted (Represents equity compensation awarded to the new CFO, vesting over three years.)
Key Players & Entities
- KORE Group Holdings, Inc. (company) — The company filing the report.
- Jeffrey A. Korden (person) — Newly appointed Chief Financial Officer.
- $375,000 (dollar_amount) — Annual base salary for the new CFO.
- July 8, 2024 (date) — Effective date of the new CFO's appointment.
- 150,000 (dollar_amount) — Number of restricted stock units granted to the new CFO.
FAQ
Who has been appointed as the new Chief Financial Officer of KORE Group Holdings, Inc.?
Jeffrey A. Korden has been appointed as the new Chief Financial Officer.
When is the appointment of the new CFO effective?
The appointment of Jeffrey A. Korden as CFO is effective July 8, 2024.
What is the annual base salary for the new CFO?
The annual base salary for Jeffrey A. Korden is $375,000.
What equity compensation is the new CFO receiving?
Jeffrey A. Korden will be granted 150,000 restricted stock units, which will vest over a three-year period.
Is the new CFO eligible for a bonus?
Yes, Jeffrey A. Korden will be eligible for a discretionary annual bonus.
Filing Stats: 1,583 words · 6 min read · ~5 pages · Grade level 11.4 · Accepted 2024-07-08 16:15:23
Key Financial Figures
- $0.0001 — ge on which registered Common stock, $0.0001 par value per share KORE New York Stock
- $300,000 — , Mr. Gordon is entitled to a salary of $300,000. Mr. Gordon's salary will be reviewed a
- $200,000 — , with a potential aggregate payment of $200,000 (the "Gordon Cash Award"). One-half of
Filing Documents
- kore-20240702.htm (8-K) — 35KB
- exhibit101executiveemploym.htm (EX-10.1) — 148KB
- exhibit991pressrelease-app.htm (EX-99.1) — 12KB
- image_0a.jpg (GRAPHIC) — 37KB
- 0001855457-24-000064.txt ( ) — 413KB
- kore-20240702.xsd (EX-101.SCH) — 2KB
- kore-20240702_lab.xml (EX-101.LAB) — 23KB
- kore-20240702_pre.xml (EX-101.PRE) — 13KB
- kore-20240702_htm.xml (XML) — 3KB
01. Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure. On July 8, 2024, the Company issued a press release announcing the appointment described in this Current Report on Form 8-K. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information set forth under this Item 7.01, including Exhibit 99.1 attached hereto, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference in such filing.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Employee Agreement by and among KORE Group Holdings, Inc., KORE Wireless Group Inc. and Bruce William Gordon, dated July 2, 2024 99.1 Press Release dated July 8, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 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. KORE Group Holdings, Inc. Date: July 8, 2024 By: /s/ Jack W. Kennedy Jr. Name: Jack W. Kennedy Jr. Title: Executive Vice President, Chief Legal Officer, and Secretary