Sunlight Financial Holdings Inc. filed SEC Form 8-K: Leadership Update
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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. |
Sunlight Financial Holdings Inc. (the “Company”) expanded the size of its board to 10 and appointed Neal P. Goldman to the Board of Directors, effective October 11, 2023, Mr. Goldman will serve as a Class I director with a term expiring at the Company's Annual Meeting of Stockholders in 2025. In connection with Mr. Goldman's appointment, the Board has appointed Mr. Goldman to the Independent Transaction Review Committee.
In connection with his appointment, on October 12 (the “Effective Date”), Mr. Goldman entered into an Independent Director Agreement (the “Agreement”) with the Company pursuant to which the Company has agreed to pay Mr. Goldman a monthly fee of $45,000, payable monthly in advance, with the first monthly fee to be pro-rated based on the number of days from the Effective Date until the last date of the month. In addition, Mr. Goldman will receive a per diem payment of $7,500 in cash for days on which he is engaged in certain activities on behalf of the Company. The initial term of the agreement is three (3) months following the Effective Date and thereafter can be extended on a month-to-month basis with the mutual agreement of the Company and Director. Pursuant to the Agreement, Mr. Goldman may resign or be removed in accordance with the Company’s organizational documents, with or without cause, in which event this Agreement shall terminate as of the date of such resignation or removal.
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.
| SUNLIGHT FINANCIAL HOLDINGS INC. | ||
| By: | /s/ Matthew Potere | |
| Matthew Potere | ||
| Chief Executive Officer | ||
Date: October 13, 2023