Sarcos Files 8-K on Officer Changes, Compensation, Other Events
Ticker: PDYNW · Form: 8-K · Filed: Jan 9, 2024 · CIK: 1826681
| Field | Detail |
|---|---|
| Company | Sarcos Technology & Robotics Corp (PDYNW) |
| Form Type | 8-K |
| Filed Date | Jan 9, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001, $69.00 |
| Sentiment | mixed |
Complexity: simple
Sentiment: mixed
Topics: officer-changes, compensation, corporate-governance
TL;DR
**Sarcos filed an 8-K about officer changes and compensation, watch for details.**
AI Summary
Sarcos Technology and Robotics Corporation filed an 8-K on January 9, 2024, reporting an event that occurred on January 3, 2024. The filing indicates changes related to the 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers' and 'Other Events'. While the specific details of these changes are not provided in the summary, such events often signal shifts in leadership or executive compensation, which can impact a company's strategic direction and financial health. Investors should pay attention to the full details of these changes as they can influence future performance and stock valuation.
Why It Matters
Changes in executive leadership or compensation can signal strategic shifts or financial adjustments, directly impacting investor confidence and the company's future performance.
Risk Assessment
Risk Level: medium — The filing indicates significant changes in leadership and compensation, which could introduce uncertainty or signal strategic shifts, warranting closer examination.
Analyst Insight
Investors should monitor Sarcos's subsequent announcements for specific details regarding the reported officer changes and compensatory arrangements, as these will provide clarity on the company's strategic direction and potential impact on its financial health.
Key Numbers
- 001-39897 — Commission File Number (identifies Sarcos's filing with the SEC)
- 85-2838301 — IRS Employer Identification No. (identifies Sarcos for tax purposes)
Key Players & Entities
- Sarcos Technology and Robotics Corporation (company) — the registrant filing the 8-K
- Delaware (company) — state of incorporation for Sarcos
- 001-39897 (dollar_amount) — Commission File Number
- 85-2838301 (dollar_amount) — IRS Employer Identification No.
- January 03, 2024 (date) — date of earliest event reported
- January 09, 2024 (date) — date the 8-K was filed
Forward-Looking Statements
- Sarcos Technology and Robotics Corp will provide more detailed information regarding the officer changes and compensatory arrangements in a subsequent filing or press release. (Sarcos Technology and Robotics Corp) — high confidence, target: Q1 2024
- The changes in leadership or compensation may lead to a short-term fluctuation in Sarcos's stock price as investors react to the news. (Sarcos Technology and Robotics Corp) — medium confidence, target: January 2024
FAQ
What was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on January 03, 2024.
What specific items were reported under Item Information in this 8-K?
The 8-K reported 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers' and 'Other Events' under Item Information.
What is the full legal name of the registrant as specified in its charter?
The exact name of the registrant as specified in its charter is Sarcos Technology and Robotics Corporation.
What is the business address of Sarcos Technology and Robotics Corporation?
The business address of Sarcos Technology and Robotics Corporation is 650 South 500 West, Suite 150, Salt Lake City, Utah, 84101.
When was this 8-K filing filed with the SEC?
This 8-K filing was filed with the SEC on January 09, 2024.
Filing Stats: 774 words · 3 min read · ~3 pages · Grade level 14.8 · Accepted 2024-01-09 16:30:11
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share STRC The Nasdaq Stock Mar
- $69.00 — of Common Stock at an exercise price of $69.00 per share STRCW The Nasdaq Stock Ma
Filing Documents
- strc-20240103.htm (8-K) — 51KB
- 0000950170-24-003366.txt ( ) — 192KB
- strc-20240103.xsd (EX-101.SCH) — 43KB
- strc-20240103_htm.xml (XML) — 6KB
01 Other Events
Item 8.01 Other Events. Under the Retention Plan, the executive officers listed below were also awarded the cash bonus set forth next to their respective names, subject to continued service until December 31, 2024, unless such officer is earlier terminated without Cause or resigns for Good Reason (each as defined in the officer’s employment agreement). The Company also expects to award RSUs as set forth next to each officer’s respective name, which RSUs will be scheduled to vest as to one quarter (1/4) on the first anniversary of the date of grant and the remainder in equal quarterly installments over the subsequent 12 quarters, in each case subject to continued service. Name Cash Bonus Equity Award Denis Garagic Chief Technology Officer 75% of base salary 500,000 RSUs Matt Vogt Chief Revenue Officer 50% of base salary 100,000 RSUs Stephen Sonne Chief Legal Officer & Secretary 50% of base salary 100,000 RSUs In addition, on January 3, 2024, the Board approved a change in the target annual bonus levels for certain executive officers, as set forth below. Name Target Annual Bonus Andrew Hamer Chief Financial Officer 50% of base salary Denis Garagic Chief Technology Officer 75% of base salary Stephen Sonne Chief Legal Officer & Secretary 50% of base salary 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. Sarcos Technology and Robotics Corporation Dated: January 9, 2024 By: /s/ Stephen Sonne Name: Title: Stephen Sonne Chief LegalOfficer & Secretary