Owlet Appoints New CFO, Details Compensation

TL;DR

Owlet names new CFO, Jonathan Miller, starting July 15th with $375k salary + bonus + RSUs.

AI Summary

Owlet, Inc. announced on July 8, 2024, the appointment of Jonathan S. Miller as Chief Financial Officer, effective July 15, 2024. Miller will receive an annual base salary of $375,000 and will be eligible for an annual bonus with a target of 50% of his base salary. He will also receive an initial grant of 150,000 restricted stock units (RSUs).

Why It Matters

The appointment of a new CFO and the associated compensation package are key indicators of the company's financial leadership and strategic direction.

Risk Assessment

Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding financial strategy and execution.

Key Numbers

• $375,000 — CFO Base Salary (Annual compensation for Jonathan S. Miller.)
• 50% — CFO Bonus Target (Potential annual bonus percentage for Jonathan S. Miller.)
• 150,000 — CFO RSUs (Initial restricted stock units granted to Jonathan S. Miller.)

Key Players & Entities

• Owlet, Inc. (company) — Registrant
• Jonathan S. Miller (person) — Appointed Chief Financial Officer
• $375,000 (dollar_amount) — Annual base salary for new CFO
• 50% (dollar_amount) — Target annual bonus percentage for new CFO
• 150,000 (dollar_amount) — Restricted Stock Units granted to new CFO
• July 15, 2024 (date) — Effective date for new CFO
• July 8, 2024 (date) — Date of report

FAQ

Key Financial Figures

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• $300,000 — d's annual base salary was increased to $300,000 and her annual cash bonus opportunity w
• $200,000 — ty award with a target value of between $200,000 to $300,000 at the time of grant in the
• $9,014.42 — us for six months at the weekly rate of $9,014.42 (less applicable tax withholding), (ii)
• $50,000 — ll be entitled to receive an additional $50,000 representing the difference between the

Filing Documents

• owlt-20240708.htm (8-K) — 37KB
• a2024-07x09exhibit991.htm (EX-99.1) — 16KB
• owlt-20240708_g1.jpg (GRAPHIC) — 34KB
• 0001628280-24-031526.txt ( ) — 306KB
• owlt-20240708.xsd (EX-101.SCH) — 2KB
• owlt-20240708_def.xml (EX-101.DEF) — 15KB
• owlt-20240708_lab.xml (EX-101.LAB) — 27KB
• owlt-20240708_pre.xml (EX-101.PRE) — 16KB
• owlt-20240708_htm.xml (XML) — 3KB

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure A copy of the press release announcing the Chief Financial Officer transition is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The information in this Item 7.01, including Exhibit 99.1 furnished under Item 9.01 hereunder, shall not be deemed to be "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. Furthermore, the information in this Item 7.01, including Exhibit 99.1 furnished under Item 9.01 hereunder, shall not be deemed incorporated by reference into the filings of the Company under the Securities Act or the Exchange Act, regardless of any general incorporation language in such filing.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits (d) Exhibits. Exhibit No. Description 99.1 Press Release of Owlet, Inc., dated July 9, 2024 . 104 Cover Page Interactive Data file (the cover page XBRL tags are 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. Owlet, Inc. Date: July 9, 2024 By: /s/ Kurt Workman Name: Kurt Workman Title: Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR