Inspired Entertainment Inc. filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 29, 2025, Inspired Entertainment, Inc. (the “Company”) entered into addendums to the employment agreements between the Company and each of A. Lorne Weil, the Company’s Executive Chairman, and Brooks H. Pierce, the Company’s Chief Executive Officer. The addendums have an effective date of January 1, 2025.
Mr. Weil’s addendum extends his term of employment to December 31, 2028, increases his base salary rate to $900,000 and increases his annual target bonus opportunity to 130% of his base salary. Mr. Weil’s sign-on equity grants that have price target vesting conditions will remain eligible for vesting during his extended term of employment.
Mr. Pierce’s addendum extends his term of employment to December 31, 2027, increases his base salary rate of $650,000 and increases his annual target bonus opportunity to 120% of his base salary.
All other material terms and conditions of the employment agreements between the Company and Messrs. Weil and Pierce, as previously disclosed and described, shall remain in effect for the duration of the extended terms. The foregoing descriptions of the employment agreement addendums are not complete and are qualified in their entirety by reference to the full text of the employment agreement addendums, which are filed as Exhibits 10.1 and 10.2 to this Current Report.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | |
| 10.1 | Addendum, effective January 1, 2025, to the Employment Agreement dated October 9, 2020, as amended, by and between Inspired Entertainment, Inc. and A. Lorne Weil. | |
| 10.2 | Addendum, effective January 1, 2025, to the Employment Agreement dated February 17, 2020, as amended, by and between Inspired Entertainment, Inc. and Brooks H. Pierce. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| February 4, 2025 | Inspired Entertainment, Inc. | |
| By: | /s/ Simona Camilleri | |
| Name: | Simona Camilleri | |
| Title: | General Counsel | |