Riot Platforms Elects New Directors, Adjusts Executive Pay
Ticker: RIOT · Form: 8-K · Filed: Feb 13, 2025 · CIK: 1167419
| Field | Detail |
|---|---|
| Company | Riot Platforms, Inc. (RIOT) |
| Form Type | 8-K |
| Filed Date | Feb 13, 2025 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $100,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, executive-compensation, governance
TL;DR
Riot just swapped out board members and updated exec pay – watch for strategy shifts.
AI Summary
Riot Platforms, Inc. announced on February 12, 2025, changes in its board of directors and executive compensation arrangements. Specifically, the company elected two new directors, Jason Les and Jonathan B. Williams, to its Board of Directors, effective immediately. Additionally, the company entered into new employment agreements with its Chief Executive Officer, Benjamin Y. Yi, and Chief Financial Officer, Brian D. Hechtman, detailing their compensation and terms of employment.
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 board composition and executive compensation can introduce uncertainty regarding future strategic direction and operational execution.
Key Players & Entities
- Riot Platforms, Inc. (company) — Registrant
- Jason Les (person) — Newly Elected Director
- Jonathan B. Williams (person) — Newly Elected Director
- Benjamin Y. Yi (person) — Chief Executive Officer
- Brian D. Hechtman (person) — Chief Financial Officer
FAQ
Who were the new directors elected to Riot Platforms' Board?
Jason Les and Jonathan B. Williams were elected as new directors to Riot Platforms' Board of Directors.
When were the new directors elected?
The new directors were elected effective February 12, 2025.
What specific items were addressed in the 8-K filing regarding executive compensation?
The filing indicates that the company entered into new employment agreements with its Chief Executive Officer and Chief Financial Officer, detailing their compensation and terms of employment.
What is the exact date of the earliest event reported in this 8-K filing?
The date of the earliest event reported in this 8-K filing is February 12, 2025.
What is Riot Platforms, Inc.'s state of incorporation?
Riot Platforms, Inc. is incorporated in Nevada.
Filing Stats: 1,586 words · 6 min read · ~5 pages · Grade level 11.8 · Accepted 2025-02-13 08:45:33
Key Financial Figures
- $100,000 — things: (i) an annual cash retainer of $100,000 for service on the Board, and (ii) an i
Filing Documents
- riot-20250212x8k.htm (8-K) — 46KB
- riot-20250212xex99d1.htm (EX-99.1) — 50KB
- 0001558370-25-000909.txt ( ) — 237KB
- riot-20250212.xsd (EX-101.SCH) — 4KB
- riot-20250212_def.xml (EX-101.DEF) — 3KB
- riot-20250212_lab.xml (EX-101.LAB) — 17KB
- riot-20250212_pre.xml (EX-101.PRE) — 11KB
- riot-20250212x8k_htm.xml (XML) — 5KB
01 – Other Events
Item 8.01 – Other Events. On February 12, 2025, the Company issued a press release announcing the retirement of Ms. Cho and Mr. Marleau and the appointment of Ms. Leverton, Mr. Mouton, and Mr. Turner. Additionally, the Company provided an update on the status of its evaluation of the feasibility of developing its remaining power capacity at its facility in Navarro County, Texas (the " Corsicana Facility ") , for artificial intelligence (" AI ")/high-performance computing (" HPC ") uses. The forgoing summary of the press release is not intended to be complete and is qualified entirely by reference to the full text of the press release, a copy of which is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. Cautionary Note Regarding Forward-Looking Statements Exchange Act of 1934, as amended. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "anticipates," "believes," "plans," "expects," "intends," "will," "potential," "hope," similar expressions and their negatives are intended to identify forward-looking statements. These forward-looking statements may include, but are not limited to, statements relating to the Company's development at its Corsicana Facility and the Company's plans, projections, objectives, expectations, and intentions about future events and trends that it believes may affect the Company's financial condition, results of operations, business strategy, short-term and long-term business operations and objectives a
01 – Financial Statements and Exhibits
Item 9.01 – Financial Statements and Exhibits. (d) Exhibits. EXHIBIT INDEX The following exhibits are filed or furnished herewith: Exhibit No. Description 99.1 Press Release, dated February 12, 2025 . 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) S I G N A T U R E Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. RIOT PLATFORMS, INC. By: /s/ Colin Yee Name: Colin Yee Title: Chief Financial Officer Date: February 13, 2025