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Unity Software | 8-K: Unity Software Signs Transition Agreement with Carol Carpenter

SEC ·  Jun 21, 2024 04:11

Summary by Futu AI

Unity Software announced that Carol Carpenter will resign as Senior Vice President and Chief Marketing Officer, effective June 30, 2024. She will continue as Strategic Marketing Advisor until her final departure on December 1, 2024, maintaining her base salary and equity vesting during this transition period.As part of her resignation package, Carpenter will receive several benefits including a $190,000 severance payment (26 weeks of base salary), a pro-rated 2024 target bonus of $261,250, and approximately $17,000 for healthcare continuation. Additionally, she will get an extended three-year period to exercise her vested stock options post-resignation.The agreement includes provisions for early termination scenarios. If terminated for cause before December 1, all benefits cease immediately. If Carpenter resigns early, while salary and equity vesting stop, she remains eligible for the severance package and extended stock option exercise period.
Unity Software announced that Carol Carpenter will resign as Senior Vice President and Chief Marketing Officer, effective June 30, 2024. She will continue as Strategic Marketing Advisor until her final departure on December 1, 2024, maintaining her base salary and equity vesting during this transition period.As part of her resignation package, Carpenter will receive several benefits including a $190,000 severance payment (26 weeks of base salary), a pro-rated 2024 target bonus of $261,250, and approximately $17,000 for healthcare continuation. Additionally, she will get an extended three-year period to exercise her vested stock options post-resignation.The agreement includes provisions for early termination scenarios. If terminated for cause before December 1, all benefits cease immediately. If Carpenter resigns early, while salary and equity vesting stop, she remains eligible for the severance package and extended stock option exercise period.

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