share_log

Riot Platforms | 8-K: Amended and Restated Executive Employment Agreement

SEC ·  Nov 27 06:08

Summary by Futu AI

On November 20, 2024, Riot Platforms' Compensation Committee approved amendments to the executive employment agreements. The revised agreements clarify procedures for separation agreements and severance benefits, including a revocation period. Severance benefits will be paid in a lump sum, with 50% disbursed within 20 business days of the Severance Agreement and the remainder after 6 months and 1 day.The agreements also address the timing of stock award settlements. Service-based awards will vest pro rata, and performance-based awards will accelerate, both within five business days of the Severance Agreement. Executives Jason Les, Benjamin Yi, William Jackman, and Jason Chung have entered into these amended agreements, which have a 36-month term, automatically renewing for 12-month periods unless terminated earlier.
On November 20, 2024, Riot Platforms' Compensation Committee approved amendments to the executive employment agreements. The revised agreements clarify procedures for separation agreements and severance benefits, including a revocation period. Severance benefits will be paid in a lump sum, with 50% disbursed within 20 business days of the Severance Agreement and the remainder after 6 months and 1 day.The agreements also address the timing of stock award settlements. Service-based awards will vest pro rata, and performance-based awards will accelerate, both within five business days of the Severance Agreement. Executives Jason Les, Benjamin Yi, William Jackman, and Jason Chung have entered into these amended agreements, which have a 36-month term, automatically renewing for 12-month periods unless terminated earlier.

The information provided by Futu AI is automatically generated by third-party artificial intelligence (AI) software based on news content.


The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.