Vroom, Inc. Board Changes and Officer Compensation
Ticker: VRMWW · Form: 8-K · Filed: Jul 24, 2024 · CIK: 1580864
| Field | Detail |
|---|---|
| Company | Vroom, Inc. (VRMWW) |
| Form Type | 8-K |
| Filed Date | Jul 24, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001, $500 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, executive-compensation
TL;DR
Vroom board shakeup: Mylod out, exec pay details emerge.
AI Summary
Vroom, Inc. announced on July 23, 2024, a change in its board of directors. Specifically, Robert J. Mylod Jr. resigned from his position as a director. The company also reported on compensatory arrangements for certain officers.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Board changes and executive compensation disclosures can sometimes precede or accompany significant strategic shifts or financial events.
Key Players & Entities
- Vroom, Inc. (company) — Registrant
- Robert J. Mylod Jr. (person) — Resigned Director
FAQ
What was the effective date of Robert J. Mylod Jr.'s resignation?
The filing indicates the date of earliest event reported is July 23, 2024, suggesting this is the effective date or around it.
Did Vroom, Inc. appoint any new directors?
The filing mentions 'Election of Directors' as an item, but does not specify any new appointments in the provided text.
What specific compensatory arrangements for officers are detailed?
The provided text lists 'Compensatory Arrangements of Certain Officers' as an item but does not detail the specifics.
What is Vroom, Inc.'s IRS Employer Identification Number?
Vroom, Inc.'s IRS Employer Identification Number is 90-1112566.
What is Vroom, Inc.'s principal executive office address?
Vroom, Inc.'s principal executive office is located at 3600 W Sam Houston Pkwy S, Floor 4, Houston, Texas 77042.
Filing Stats: 615 words · 2 min read · ~2 pages · Grade level 11.5 · Accepted 2024-07-23 17:32:47
Key Financial Figures
- $0.001 — nge on which registered Common stock, $0.001 par value per share VRM The Nasdaq
- $500 — . Moran entitled to a consulting fee of $500 per hour. Ms. Moran's previously grante
Filing Documents
- vrm-20240723.htm (8-K) — 41KB
- 0000950170-24-085765.txt ( ) — 154KB
- vrm-20240723.xsd (EX-101.SCH) — 26KB
- vrm-20240723_htm.xml (XML) — 5KB
02. Departure of Directors or Certain Officers; Election of Directors; Appointment
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Chief Legal Officer Transition On July 23, 2024, Vroom, Inc. (the "Company") and Patricia Moran entered into a separation and consulting agreement (the "Separation and Consulting Agreement") in connection with her separation from the Company. Ms. Moran will cease her employment as the Company's Chief Legal Officer, General Counsel and Secretary, effective as of August 23, 2024 (the "Transition Date"). Pursuant to the Separation and Consulting Agreement, subject to, among other things, Ms. Moran's execution of a release of claims and continued compliance with applicable restrictive covenant obligations, she will be eligible for cash severance and COBRA continuation benefits consistent with the terms of the Company's previously disclosed Amended and Restated Vroom, Inc. Executive Severance Plan ("Severance Plan"). Effective as of the Transition Date, Ms. Moran will continue to provide services to the Company as a consultant for up to one year following the Transition Date, with Ms. Moran entitled to a consulting fee of $500 per hour. Ms. Moran's previously granted outstanding equity awards will continue to vest while she provides services to the Company and the post-termination exercise period of any vested outstanding stock options will be extended through the original expiration date of such options. Additionally, on July 23, 2024, and effective as of the Transition Date, the Board appointed Anna-Lisa Corrales, the Company's former Chief Compliance Officer, as Chief Legal Officer, Chief Compliance Officer and Secretary. |US-DOCS\152333906.6||
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: July 23, 2024 VROOM, INC. By: /s/ Thomas H. Shortt Name: Thomas H. Shortt Title: Chief Executive Officer |US-DOCS\152333906.6||