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iRobot | 8-K: Current report

SEC announcement ·  Mar 27 04:18
Summary by Futu AI
On March 26, 2024, iRobot Corporation, a company registered in Delaware and listed on the Nasdaq Stock Market under the trading symbol IRBT, reported the appointment of Glen Weinstein as the Interim Chief Executive Officer. The employment agreement includes a monthly base stipend of $63,333, a matching monthly bonus, and a one-time equity award valued at $1.2 million that will vest after 12 months. Additionally, in case of termination, Weinstein is entitled to a severance payment of $430,000, immediate vesting of the equity award, and accelerated vesting of other outstanding equity awards. This executive compensation package is in accordance with iRobot's 2018 Stock Option and Incentive Plan. The details of the agreement are fully outlined in Exhibit 10.1 attached to the company's Form 8-K filing with the SEC.
On March 26, 2024, iRobot Corporation, a company registered in Delaware and listed on the Nasdaq Stock Market under the trading symbol IRBT, reported the appointment of Glen Weinstein as the Interim Chief Executive Officer. The employment agreement includes a monthly base stipend of $63,333, a matching monthly bonus, and a one-time equity award valued at $1.2 million that will vest after 12 months. Additionally, in case of termination, Weinstein is entitled to a severance payment of $430,000, immediate vesting of the equity award, and accelerated vesting of other outstanding equity awards. This executive compensation package is in accordance with iRobot's 2018 Stock Option and Incentive Plan. The details of the agreement are fully outlined in Exhibit 10.1 attached to the company's Form 8-K filing with the SEC.
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