Pagaya Technologies Ltd. Board & CFO Compensation Update
Ticker: PGYWW · Form: 8-K · Filed: Dec 4, 2024 · CIK: 1883085
| Field | Detail |
|---|---|
| Company | Pagaya Technologies Ltd. (PGYWW) |
| Form Type | 8-K |
| Filed Date | Dec 4, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $375,000, $150,000, $20,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, executive-compensation, board-of-directors
TL;DR
Pagaya adds a director, boosts CFO pay with new deal.
AI Summary
Pagaya Technologies Ltd. announced on December 2, 2024, changes in its board of directors and executive compensation. Specifically, the company elected Galit Bar-On as a new Class II director and appointed her to the Audit Committee. Additionally, the company entered into a new employment agreement with its Chief Financial Officer, Michael LaGattuta, effective December 2, 2024, which includes a base salary of $350,000 and a target annual bonus of 100% of his base salary.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy, governance, and financial outlook, impacting investor confidence.
Risk Assessment
Risk Level: medium — Changes in board and executive roles, along with compensation adjustments, can indicate internal shifts that may affect future performance.
Key Numbers
- $350,000 — CFO Base Salary (New annual base salary for Michael LaGattuta)
- 100% — CFO Target Bonus (Target annual bonus percentage for Michael LaGattuta)
Key Players & Entities
- Pagaya Technologies Ltd. (company) — Registrant
- Galit Bar-On (person) — Newly elected Class II director and Audit Committee member
- Michael LaGattuta (person) — Chief Financial Officer
- $350,000 (dollar_amount) — CFO's new base salary
- 100% (dollar_amount) — CFO's target annual bonus percentage
- December 2, 2024 (date) — Effective date of board changes and CFO agreement
FAQ
Who was appointed as a new director for Pagaya Technologies Ltd.?
Galit Bar-On was elected as a new Class II director.
What committee was Galit Bar-On appointed to?
Galit Bar-On was appointed to the Audit Committee.
What is the new base salary for the CFO, Michael LaGattuta?
The new base salary for Michael LaGattuta is $350,000.
What is the target annual bonus for Michael LaGattuta?
The target annual bonus for Michael LaGattuta is 100% of his base salary.
When were these changes effective?
These changes were effective as of December 2, 2024.
Filing Stats: 687 words · 3 min read · ~2 pages · Grade level 11.4 · Accepted 2024-12-04 16:04:55
Key Financial Figures
- $375,000 — l receive: (i) an annual base salary of $375,000, (ii) a 2024 cash bonus of at least $15
- $150,000 — 000, (ii) a 2024 cash bonus of at least $150,000, which shall be repayable to the Compan
- $20,000 — period, (iii) a one-time cash bonus of $20,000, (iv) an equity grant to be determined
Filing Documents
- pgy-20241202.htm (8-K) — 25KB
- 0001883085-24-000195.txt ( ) — 192KB
- pgy-20241202.xsd (EX-101.SCH) — 3KB
- pgy-20241202_def.xml (EX-101.DEF) — 16KB
- pgy-20241202_lab.xml (EX-101.LAB) — 28KB
- pgy-20241202_pre.xml (EX-101.PRE) — 17KB
- pgy-20241202_htm.xml (XML) — 4KB
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. PAGAYA TECHNOLOGIES LTD. Date: December 4, 2024 By: /s/ Evangelos Perros Name: Evangelos Perros Title: Chief Financial Officer