Mitek appoints David Lyle as CFO; interim CFO Ahmad steps down for transition

MITEK SYSTEMS INC

David Lyle, age 59, becomes CFO on Jan 2, 2024; previously CFO of Surgalign, Airgain, Maxwell, Entropic.
Base salary of $425,000; eligible for annual cash bonus target 65% of base (max 130%).
Equity: $750K time-based RSUs (4-yr vest), $750K performance-based RSUs (3-yr vest), additional $247.5K if performance criteria exceeded.
Ahmad will remain for several months to ensure smooth transition; departure not due to disagreement.
Lyle also serves as Principal Financial and Accounting Officer; standard severance and change-in-control agreement.

item 5.02 item 8.01 item 9.01

Executive movements

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Departed (interim)

Fuad Ahmad

Interim Chief Financial Officer

MITK · MITEK SYSTEMS INC

Effective: 2024-01-02
Successor: David Lyle
Filed: December 19, 2023, 6:59 PM ET

Fuad Ahmad, the Company’s current Interim CFO, who has agreed to step down as Interim CFO as of the Effective Date

Appointed

David Lyle

Chief Financial Officer

MITK · MITEK SYSTEMS INC

Effective: 2024-01-02
Filed: December 19, 2023, 6:59 PM ET

On December 19, 2023 Mitek Systems, Inc. (the “Company”) appointed David Lyle, age 59, as the Company’s Chief Financial Officer ("CFO") and Senior Vice President, effective as of January 2, 2024

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Fuad Ahmad departed as Interim Chief Financial Officer at MITEK SYSTEMS INC.

Action: stepped down
Role: Interim Chief Financial Officer

Exact text from the filing

Fuad Ahmad, the Company’s current Interim CFO, who has agreed to step down as Interim CFO as of the Effective Date

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

David Lyle was appointed as Chief Financial Officer at MITEK SYSTEMS INC.

Action: appointed
Role: Chief Financial Officer

Exact text from the filing

On December 19, 2023 Mitek Systems, Inc. (the “Company”) appointed David Lyle, age 59, as the Company’s Chief Financial Officer ("CFO") and Senior Vice President, effective as of January 2, 2024

View on SEC.gov

MITEK SYSTEMS INC filing history →

Source: SEC EDGAR

accession 0000807863-23-000168

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