Skillsoft CFO Departs, Interim Appointed
Ticker: SKILW · Form: 8-K · Filed: Sep 5, 2024 · CIK: 1774675
| Field | Detail |
|---|---|
| Company | Skillsoft Corp. (SKILW) |
| Form Type | 8-K |
| Filed Date | Sep 5, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $0.0001, $772,500, $1,500,000, $3,000,000, $30.00 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-departure, cfo-change, interim-appointment
TL;DR
Skillsoft CFO Richard Davis out, Michael Muldowney steps in as interim CFO.
AI Summary
Skillsoft Corp. announced on September 4, 2024, the departure of its Chief Financial Officer, Richard S. Davis. The company has appointed Michael J. Muldowney as interim CFO, effective immediately. This change is part of a broader executive transition and compensation arrangement.
Why It Matters
A change in CFO can signal shifts in financial strategy or operational focus, potentially impacting investor confidence and the company's financial reporting.
Risk Assessment
Risk Level: medium — Executive departures, especially of key financial officers, can introduce uncertainty regarding financial strategy and stability.
Key Players & Entities
- Skillsoft Corp. (company) — Registrant
- Richard S. Davis (person) — Departing Chief Financial Officer
- Michael J. Muldowney (person) — Interim Chief Financial Officer
- September 4, 2024 (date) — Effective date of CFO departure
FAQ
Who has been appointed as the interim Chief Financial Officer of Skillsoft Corp.?
Michael J. Muldowney has been appointed as the interim Chief Financial Officer of Skillsoft Corp.
When did the departure of the Chief Financial Officer become effective?
The departure of the Chief Financial Officer, Richard S. Davis, became effective on September 4, 2024.
What is the name of the former Chief Financial Officer of Skillsoft Corp.?
The former Chief Financial Officer of Skillsoft Corp. was Richard S. Davis.
What is the principal business address of Skillsoft Corp.?
The principal business address of Skillsoft Corp. is 300 Innovative Way, Suite 2210, Nashua, NH 03062.
What is the Commission File Number for Skillsoft Corp.?
The Commission File Number for Skillsoft Corp. is 001-38960.
Filing Stats: 1,384 words · 6 min read · ~5 pages · Grade level 11.7 · Accepted 2024-09-05 08:58:29
Key Financial Figures
- $0.0001 — ich registered Class A common stock , $0.0001 par value per share SKIL New York St
- $772,500 — entitlement to an annual base salary of $772,500 (effective as of the Start Date) and an
- $1,500,000 — . The Agreement provides for a one-time $1,500,000 sign-on bonus. The Company will also re
- $3,000,000 — ved on or before December 31, 2028: (i) $3,000,000 for a 30-day VWAP of $30.00 or greater
- $30.00 — 28: (i) $3,000,000 for a 30-day VWAP of $30.00 or greater ($6,000,000 if achieved on o
- $6,000,000 — for a 30-day VWAP of $30.00 or greater ($6,000,000 if achieved on or before December 31, 2
- $4,000,000 — December 31, 2026), (ii) an additional $4,000,000 for a 30-day VWAP of $40.00 or greater,
- $40.00 — itional $4,000,000 for a 30-day VWAP of $40.00 or greater, (iii) an additional $4,000,
- $50.00 — itional $4,000,000 for a 30-day VWAP of $50.00 or greater, (iv) an additional $2,000,0
- $2,000,000 — f $50.00 or greater, (iv) an additional $2,000,000 for a 30-day VWAP of $70.00 or greater,
- $70.00 — itional $2,000,000 for a 30-day VWAP of $70.00 or greater, and (v) an additional $4,00
- $100.00 — itional $4,000,000 for a 30-day VWAP of $100.00 or greater. Upon a change in control on
- $13,000,000 — s-up payment in an amount not to exceed $13,000,000. The Agreement also contains certain r
Filing Documents
- skil20240905_8k.htm (8-K) — 34KB
- 0001437749-24-028488.txt ( ) — 169KB
- skil-20240905.xsd (EX-101.SCH) — 3KB
- skil-20240905_def.xml (EX-101.DEF) — 12KB
- skil-20240905_lab.xml (EX-101.LAB) — 15KB
- skil-20240905_pre.xml (EX-101.PRE) — 12KB
- skil20240905_8k_htm.xml (XML) — 3KB
01. Financial Statement and Exhibits
Item 9.01. Financial Statement and Exhibits. (d) Exhibits. Exhibit Number Description 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 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. Dated: September 5, 2024 SKILLSOFT CORP. By: /s/ Richard George Walker Richard George Walker Chief Financial Officer