Skillz Inc. Appoints New Director, Adjusts Executive Compensation
Ticker: SKLZ · Form: 8-K · Filed: Aug 15, 2024 · CIK: 1801661
| Field | Detail |
|---|---|
| Company | Skillz Inc. (SKLZ) |
| Form Type | 8-K |
| Filed Date | Aug 15, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, executive-compensation, board-of-directors
Related Tickers: SKLZ
TL;DR
Skillz just swapped a director and updated the CTO's pay. Board changes incoming.
AI Summary
Skillz Inc. announced on August 12, 2024, changes in its board of directors and executive compensation. Specifically, the company elected Andrew Stepanchenko as a Class III director and appointed him to the Audit Committee, effective August 12, 2024. Additionally, the company entered into a new employment agreement with its Chief Technology Officer, Michael F. Lippman, effective August 12, 2024, detailing his compensation.
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 directorship and executive compensation can indicate internal shifts that may affect the company's strategic direction and financial stability.
Key Players & Entities
- Skillz Inc. (company) — Registrant
- Andrew Stepanchenko (person) — Elected Class III director and appointed to Audit Committee
- Michael F. Lippman (person) — Chief Technology Officer with new employment agreement
- August 12, 2024 (date) — Effective date for director election and CTO agreement
FAQ
Who was elected as a new director for Skillz Inc. and what committee was he appointed to?
Andrew Stepanchenko was elected as a Class III director and appointed to the Audit Committee.
When were these changes effective?
The changes were effective as of August 12, 2024.
What other significant event occurred on August 12, 2024, according to the filing?
Skillz Inc. entered into a new employment agreement with its Chief Technology Officer, Michael F. Lippman.
What is the principal executive office address for Skillz Inc.?
The principal executive offices are located at 6625 Badura Avenue, Las Vegas, Nevada 89118.
What was Skillz Inc.'s former name?
Skillz Inc.'s former name was Flying Eagle Acquisition Corp.
Filing Stats: 505 words · 2 min read · ~2 pages · Grade level 10.9 · Accepted 2024-08-15 16:08:23
Key Financial Figures
- $0.0001 — stered Class A common stock, par value $0.0001 per share SKLZ NYSE Indicate by chec
Filing Documents
- sklz-20240812.htm (8-K) — 29KB
- 0001801661-24-000075.txt ( ) — 148KB
- sklz-20240812.xsd (EX-101.SCH) — 2KB
- sklz-20240812_lab.xml (EX-101.LAB) — 21KB
- sklz-20240812_pre.xml (EX-101.PRE) — 12KB
- sklz-20240812_htm.xml (XML) — 3KB
02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Officers
Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Officers. Departure of Casey Chafkin On August 12, 2024, Casey Chafkin informed Skillz Inc. (the "Company") of his decision to step down from his position as the Company's Chief Strategy Officer effective August 23, 2024. Mr. Chafkin has served in this role since the Company's founding in 2012. Mr. Chafkin will continue to serve as a director of the Company and as a member of the Company's Nominating and Corporate Governance Committee. Mr. Chafkin's decision to step down is not the result of any dispute or disagreement with the Company on any matter relating to its operations, policies or practices. Mr. Chafkin has agreed to provide consulting and transition services to the Company for an interim period, the details of which will be disclosed in an amendment to this Current Report on Form 8-K. We thank Mr. Chafkin for his dedicated service to the Company.
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. SKILLZ INC. By: /s/ Nikul Patel Name: Nikul Patel Title: Interim General Counsel Date: August 15, 2024