SmartRent Appoints New CFO, Grants Stock Awards

TL;DR

SmartRent just hired a new CFO, Jonathan Scholl, and gave him $400k salary + RSUs.

AI Summary

SmartRent, Inc. announced on June 18, 2024, the appointment of Jonathan R. Scholl as its new Chief Financial Officer, effective June 20, 2024. Scholl will receive an annual base salary of $400,000 and will be eligible for a discretionary annual bonus. He will also be granted 150,000 restricted stock units (RSUs) vesting over three years.

Why It Matters

The appointment of a new CFO is a significant leadership change that can impact financial strategy and investor confidence. The stock grants indicate a long-term incentive for the new executive.

Risk Assessment

Risk Level: medium — Changes in key executive positions like CFO can signal strategic shifts or underlying issues within a company, warranting closer scrutiny.

Key Numbers

• $400,000 — CFO Annual Salary (Base compensation for the new Chief Financial Officer.)
• 150,000 — RSUs Granted (Restricted stock units awarded to the new CFO, vesting over three years.)

Key Players & Entities

• SmartRent, Inc. (company) — Registrant
• Jonathan R. Scholl (person) — Newly appointed Chief Financial Officer
• $400,000 (dollar_amount) — Annual base salary for new CFO
• 150,000 (dollar_amount) — Restricted stock units granted to new CFO
• June 18, 2024 (date) — Date of announcement
• June 20, 2024 (date) — Effective date of CFO appointment

FAQ

Key Financial Figures

• $0.0001 — tered Class A Common Stock, par value $0.0001 per share SMRT The New York Stock E

Filing Documents

• smrt-20240618.htm (8-K) — 54KB
• smrt-ex99_1.htm (EX-99.1) — 13KB
• 0000950170-24-075761.txt ( ) — 188KB
• smrt-20240618.xsd (EX-101.SCH) — 27KB
• smrt-20240618_htm.xml (XML) — 5KB

02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On June 18, 2024, the Board of Directors (the "Board") of SmartRent, Inc. (the "Company"), upon the recommendation of the Board's Nominating and Corporate Governance Committee (the "Nominating Committee"), appointed Frank Martell to the Board as a Class II director to serve until the Company's 2026 annual meeting of stockholders. The Board also appointed Mr. Martell to serve as a member of the Board's Audit Committee and Nominating and Corporate Governance Committee. Mr. Martell will participate in the Company's non-employee director compensation policy and receive the standard compensation that is provided from time to time to the Company's non-employee directors pursuant thereto, including an initial award of restricted stock units covering 56,506 shares of the Company's common stock that was granted automatically on June 18, 2024, the first trading day on or after the date of commencement of his services as a non-employee director, which number of shares reflects a proration for the director services to be provided by Mr. Martell during the one-year period from May 14, 2024, the date of the Company's 2024 annual meeting of stockholders. The award is scheduled to vest as to all of the underlying shares upon the earlier of (x) May 14, 2025, which is the one-year anniversary of the date of the Company's then most recently held annual meeting of stockholders, or (y) the date immediately prior to the Company's next annual meeting of stockholders, subject to Mr. Martell's continued service through such vesting date. In addition, Mr. Martell will enter into the Company's standard indemnification agreement, the form of which was filed with the Securities and Exchange Commission (the "SEC") as Exhibit 10.8 to the Company's Annual Report on Form 10-K, filed on March 5, 2024. There is no arrangement or understan

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure . On June 20, 2024, the Company issued a press release announcing the Board changes described above. A copy of such press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information set forth in this Item 7.01 and Exhibit 99.1 attached hereto is intended to be furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits . Exhibit No . Document 99.1 Press release issued by SmartRent, Inc. on June 20, 2024. 104 Cover Page Interactive Data File (formatted as Inline XBRL). 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: June 20, 2024 SMARTRENT, INC. By: /s/ Lucas Haldeman Name: Lucas Haldeman Title: Chief Executive Officer

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View this 8-K filing on SEC EDGAR