On May 13, 2024, Unity Software Inc. announced the resignation of its Chief Product and Technology Officer, Marc Whitten. As part of the transition, Whitten will serve as a Strategic Advisor during the transition period until his official resignation date. During this time, he will continue to receive his base salary and his previously granted equity awards will continue to vest. The agreement between Whitten and Unity Software includes a customary release of claims by Whitten and outlines several benefits he will receive upon resignation. These benefits include an extension of the post-termination exercise period for his vested stock options, a lump sum cash payment equal to twenty-six weeks of his base salary, a cash payment equal to 100% of his...Show More

On May 13, 2024, Unity Software Inc. announced the resignation of its Chief Product and Technology Officer, Marc Whitten. As part of the transition, Whitten will serve as a Strategic Advisor during the transition period until his official resignation date. During this time, he will continue to receive his base salary and his previously granted equity awards will continue to vest. The agreement between Whitten and Unity Software includes a customary release of claims by Whitten and outlines several benefits he will receive upon resignation. These benefits include an extension of the post-termination exercise period for his vested stock options, a lump sum cash payment equal to twenty-six weeks of his base salary, a cash payment equal to 100% of his target bonus for 2024, an additional cash payment for supporting the leadership transition, and a payment equivalent to six months of healthcare continuation costs. The agreement stipulates that if Whitten is terminated for cause before the resignation date, he will lose his salary, equity vesting will cease, and he will not be entitled to the extended exercise period or cash payments. Conversely, if Whitten resigns before the resignation date, he will lose his salary and equity vesting will cease, but he will still be entitled to the extended exercise period and cash payments. The details of the agreement are included in Exhibit 10.1 of the Current Report on Form 8-K filed by Unity Software.