Amendment: indie Semiconductor Inc. filed SEC Form 8-K: Leadership Update
$INDI
Semiconductors
Technology
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K/A
Amendment No. 1
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): June 20, 2024
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Explanatory Note
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
In connection with the previously announced appointment of Raja Bal as the Company’s acting Chief Financial Officer and principal financial officer, on June 28, 2024, the Compensation Committee approved the following compensatory arrangement for Mr. Bal: (i) an annual base salary of $345,000, effective as of July 1, 2024, (ii) a target bonus equal to 70% of Mr. Bal’s annual base salary; and (iii) an equity grant of time-based restricted stock units (“RSUs”) of 200,000 shares of the Company’s Class A common stock pursuant to the Company’s 2021 Omnibus Equity Incentive Plan. The RSUs will vest over four (4) years, with twenty-five percent (25%) of the total number of shares vesting annually on each of the first, second, third and fourth anniversary of the date of grant.
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SIGNATURE
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.
| INDIE SEMICONDUCTOR, INC. | |||||||||||
| July 3, 2024 | By: | /s/ Donald McClymont | |||||||||
| Name: | Donald McClymont | ||||||||||
| Title: | Chief Executive Officer (Principal Executive Officer) | ||||||||||
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