Sarcos Tech & Robotics Corp. Elects Directors, Adjusts Compensation
Ticker: PDYNW · Form: 8-K · Filed: Mar 6, 2024 · CIK: 1826681
| Field | Detail |
|---|---|
| Company | Sarcos Technology & Robotics Corp (PDYNW) |
| Form Type | 8-K |
| Filed Date | Mar 6, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $0.0001, $69.00, $300,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: governance, officer-compensation, board-changes
Related Tickers: STRC
TL;DR
Sarcos Tech & Robotics (STRC) board shakeup and comp changes filed. Watch for new strategy.
AI Summary
Sarcos Technology & Robotics Corp. announced on February 29, 2024, the election of new directors and changes in its officer compensation arrangements. The company also filed financial statements and exhibits related to these events. This filing follows a period where the company was formerly known as Rotor Acquisition Corp. and Sarcos Technology & Robotics Corporation.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy and governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in directors and officer compensation can indicate internal shifts that may affect future performance or strategy.
Key Players & Entities
- Sarcos Technology & Robotics Corp. (company) — Registrant
- Rotor Acquisition Corp. (company) — Former company name
- Sarcos Technology & Robotics Corporation (company) — Former company name
- February 29, 2024 (date) — Date of earliest event reported
FAQ
What specific changes were made to the board of directors?
The filing indicates the election of directors but does not specify the names of the new directors or any departing directors in the provided text.
What are the details of the new officer compensation arrangements?
The filing mentions changes to compensatory arrangements of certain officers, but the specific details are not provided in this excerpt.
What is the significance of the company formerly being known as Rotor Acquisition Corp.?
The company was formerly known as Rotor Acquisition Corp. until a name change on September 30, 2020, indicating a SPAC merger or similar transaction.
What is the primary business of Sarcos Technology & Robotics Corp.?
Sarcos Technology & Robotics Corp. is in the GENERAL INDUSTRIAL MACHINERY & EQUIPMENT, NEC sector, as indicated by SIC code 3569.
When was the company incorporated?
The company was incorporated in Delaware.
Filing Stats: 1,547 words · 6 min read · ~5 pages · Grade level 12.1 · Accepted 2024-03-06 17:02:32
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
- $300,000 — s entitled to an initial base salary of $300,000 per year and is eligible to receive an
Filing Documents
- strc-20240229.htm (8-K) — 58KB
- strc-ex10_1.htm (EX-10.1) — 123KB
- 0000950170-24-027294.txt ( ) — 349KB
- strc-20240229.xsd (EX-101.SCH) — 43KB
- strc-20240229_htm.xml (XML) — 6KB
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 10.1 Employment Agreement, dated March 5, 2024, among Trevor Thatcher, Sarcos Corp., and the Company. 104 Cover Page Interactive Data File (formatted as Inline XBRL) 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: March 6, 2024 By: /s/ Stephen Sonne Name: Title: Stephen Sonne Chief Legal Officer & Secretary