Latch CFO Departs, Interim Appointed

TL;DR

CFO out, interim in at Latch. Watch financials.

AI Summary

Latch, Inc. announced on February 4, 2025, the departure of its Chief Financial Officer, Paul Misener, effective February 10, 2025. The company also appointed Christopher L. Smith as the interim CFO. Additionally, Latch disclosed compensatory arrangements for certain officers and provided a Regulation FD disclosure.

Why It Matters

A change in CFO can signal shifts in financial strategy or stability, impacting investor confidence and the company's financial reporting.

Risk Assessment

Risk Level: medium — CFO departures can introduce uncertainty regarding financial leadership and future financial performance.

Key Players & Entities

• Latch, Inc. (company) — Registrant
• Paul Misener (person) — Departing Chief Financial Officer
• February 10, 2025 (date) — Effective date of CFO departure
• Christopher L. Smith (person) — Appointed Interim Chief Financial Officer
• February 4, 2025 (date) — Date of Report
• TS Innovation Acquisitions Corp. (company) — Former Company Name

FAQ

Key Financial Figures

• $500,000 — Mr. Lillis has an annual base salary of $500,000 and an annual target bonus of 50% of su
• $25 million — uisitions with deal values ranging from $25 million to $3 billion. In his roles at Masterca
• $3 billion — deal values ranging from $25 million to $3 billion. In his roles at Mastercard, he also de
• $300,000 — . Mayfield has an annual base salary of $300,000 and an annual target bonus of 50% of su
• $375,000 — Mr. Patel has an annual base salary of $375,000 and an annual target bonus of 50% of su
• $200,000 — am: Mr. Lillis, $300,000; Mr. Mayfield, $200,000; and Mr. Patel, $300,000. The Cash Prog

Filing Documents

• lat-20250204.htm (8-K) — 48KB
• dlillisamendedemploymentag.htm (EX-10.1) — 202KB
• jmayfieldamendedemployment.htm (EX-10.2) — 202KB
• ppatelamendedemploymentagr.htm (EX-10.3) — 197KB
• latchleadershippressreleas.htm (EX-99.1) — 16KB
• 0001826000-25-000005.txt ( ) — 906KB
• lat-20250204.xsd (EX-101.SCH) — 2KB
• lat-20250204_lab.xml (EX-101.LAB) — 19KB
• lat-20250204_pre.xml (EX-101.PRE) — 11KB
• lat-20250204_htm.xml (XML) — 2KB

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On February 6, 2025, the Company issued a press release related to the information described in Item 5.02 above (the "Press Release"). A copy of the Press Release is furnished as Exhibit 99.1 to this Report. The information set forth in Item 7.01, including Exhibit 99.1, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. Exhibit Number Description 10.1 A mended and Restated Employment Agreement , dated as of February 5 , 2025, by and between t he Company and David Lillis . 10.2 Amended and Restated Employment Agreement, dated as of February 5, 2025 , by and between the Company and Jeff Mayfield . 10.3 Amended and Restated Employment Agreement, dated as of February 5, 2025 , by and between the Company and Priyen Patel . 99.1 Press Release dated February 6, 2025. 104 Cover Page Interactive Data File, formatted in Inline XBRL (included as Exhibit 101).

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. Latch, Inc. Date: February 6, 2025 By: /s/ Priyen Patel Name: Priyen Patel Title: Chief Strategy and Legal Officer

View Full Filing

View this 8-K filing on SEC EDGAR