Intuitive Machines Inc. filed SEC Form 8-K: Leadership Update, Regulation FD Disclosure, Financial Statements and Exhibits
$LUNR
Industrial Machinery/Components
Industrials
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 9, 2024 (September 4, 2024)
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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 September 4, 2024 the Board of Directors (the “Board”) of Intuitive Machines, Inc. (the “Company”), made the following changes to its leadership team structure.
Effective September 16, 2024, Peter McGrath will transition from his current role of Senior Vice President, Chief Operating Officer into the role of Senior Vice President and Chief Financial Officer and Steven Vontur will transition from serving as our Interim Chief Financial Officer into the role of Chief Accounting Officer.
As part of this appointment, Mr. McGrath’s annual base salary will be increased to $450,000 and he will have the opportunity to earn an annual cash performance bonus, with a target bonus opportunity of 60% of his annual base salary. Mr. McGrath will also continue to be eligible to receive annual equity incentive grants. In connection with Mr. Vontur’s appointment, there was no change in annual base salary, but his target bonus opportunity was increased to 45% of his annual base salary. Mr. Vontur will also continue to be eligible to receive annual equity incentive grants. The Compensation Committee of the Board will determine the actual cash performance bonus earned in each calendar year for Mr. McGrath and Mr. Vontur based on the attainment of the Company and individual performance goals. No equity grants were made in connection with the appointment of Mr. McGrath or Mr. Vontur.
There is no arrangement or understanding between Mr. McGrath or Mr. Vontur and any other persons or entities pursuant to which Mr. McGrath was appointed as the Chief Financial Officer or Mr. Vontur was appointed as Chief Accounting Officer and Controller. There is no family relationship between Mr. McGrath or Mr. Vontur and any member of the Board or any executive officer of the Company, and there are no transactions between the Company and Mr. McGrath or Mr. Vontur that require disclosure under Item 404(a) of Regulation S-K.
Mr. McGrath will report directly to Steve Altemus, Chief Executive Officer and President of the Company and Mr. Vontur will report to Mr. McGrath.
Item 7.01. Regulation FD Disclosure.
On September 9, 2024, the Company issued a press release announcing the foregoing leadership changes. A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated in this Item 7.01 by reference.
The information in this Item 7.01 (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits
(d)Exhibits
| Exhibit No. | Description | |||||||
| 99.1 | ||||||||
| 104 | Cover Page Interactive Data File (embedded within the inline XBRL document). | |||||||
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SIGNATURES
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.
| Date: September 9, 2024 | INTUITIVE MACHINES, INC. | |||||||
| By: | /s/ Stephen J. Altemus | |||||||
| Name: Stephen J. Altemus | ||||||||
| Title: President and Chief Executive Officer | ||||||||
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