374Water Inc. Files 8-K: Material Agreement, Officer Changes

TL;DR

374Water filed an 8-K detailing a new material agreement and executive/director changes.

AI Summary

374Water Inc. announced on April 19, 2024, that it entered into a material definitive agreement. The company also reported on the departure of directors or certain officers, the election of directors, the appointment of certain officers, and compensatory arrangements for certain officers. Additionally, a Regulation FD Disclosure and financial statements/exhibits were filed.

Why It Matters

This 8-K filing indicates significant corporate actions, including a new material agreement and changes in leadership, which could impact the company's strategic direction and operational execution.

Risk Assessment

Risk Level: medium — The filing involves material definitive agreements and changes in corporate officers/directors, which can introduce uncertainty and potential shifts in strategy.

Key Players & Entities

• 374Water Inc. (company) — Registrant
• April 19, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 SCWO The Nasdaq Capital Market LLC
• $450,000 — initial annual salary for Mr. Gannon of $450,000. Mr. Gannon is also eligible to earn an

Filing Documents

• scwo_8k.htm (8-K) — 32KB
• scwo_ex101.htm (EX-10.1) — 68KB
• scwo_ex991.htm (EX-99.1) — 11KB
• 0001654954-24-004965.txt ( ) — 256KB
• scwo-20240419.xsd (EX-101.SCH) — 6KB
• scwo-20240419_lab.xml (EX-101.LAB) — 15KB
• scwo-20240419_cal.xml (EX-101.CAL) — 1KB
• scwo-20240419_pre.xml (EX-101.PRE) — 9KB
• scwo-20240419_def.xml (EX-101.DEF) — 2KB
• scwo_8k_htm.xml (XML) — 4KB

01 Entry Into a Material Definitive Agreement

Item 1.01 Entry Into a Material Definitive Agreement. The information set forth in Item 5.02 below is incorporated herein by reference.

02 Unregistered Sales of Equity Securities

Item 3.02 Unregistered Sales of Equity Securities. The information set forth in Item 5.02 below is incorporated herein by reference. Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Employment Agreement On April 19 2024, 374Water Inc. (the " Company ") entered into an employment agreement with Christian Gannon (the " Employment Agreement "), for Mr. Gannon to serve as President and Chief Executive Officer of the Company effective April 22, 2024 (the " Start Date "). The Employment Agreement provides for an initial annual salary for Mr. Gannon of $450,000. Mr. Gannon is also eligible to earn an annual fiscal year performance bonus for each whole or partial fiscal year of his employment period with the Company; for the initial year under the Employment Agreement in accordance with certain milestones set forth by the Company, and thereafter as determined by the Compensation Committee of the Company and the Board of Directors of the Company. Mr. Gannon's "target" performance bonus shall be 125% of Mr. Gannon's then-current base salary (the " Annual Bonus "). Under the Employment Agreement and subject to the terms of the Company's 2021 Equity Incentive Plan (the " Plan "), Mr. Gannon was granted up to 2,250,000 Restricted Stock Units (as defined in the Plan) under the Plan, vesting as follows: (a) 250,000, on the first annual anniversary of the Start Date; (b) 750,000, in equal increments on the last day of every month thereafter over the following 36 months, subject to Mr. Gannon's continued employment with the Company on each vesting date; and (c) 1,250,000, pursuant to certain milestones set forth by the Company (collectively, the " Gannon Restricted Stock Units "). Additionally, pursuant to the Employment Agreement and the terms of the Plan, Mr. Gannon was granted 5,250,000 Options (as defined in the Plan) under the Plan vesting as follows: (a) 625,000,

01 Regulation FD Disclosures

Item 7.01 Regulation FD Disclosures. On April 23, 2024, the Company issued a press release regarding Mr. Gannon's appointment. A copy of the press release is attached Exhibit 99.1 and it incorporated herein by reference.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 10.1* Employment Agreement, dated April 19, 2024, between the Company and Christian Gannon 99.1 Press Release issued April 23, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) Indicates a management contract or compensatory plan. * Filed herewith. 3

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. Dated: April 24, 2024 /s/ Adrienne Anderson Adrienne Anderson Chief Financial Officer 4

View Full Filing

View this 8-K filing on SEC EDGAR