secwatch.observer — SEC 8-K summary
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Issuer:     MITEK SYSTEMS INC (MITK)
CIK:        0000807863
Form:       8-K
Filed at:   2023-12-19T23:59:59+00:00
Accession:  0000807863-23-000168
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/807863/000080786323000168/0000807863-23-000168-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/807863/000080786323000168/mitk-20231219.htm
  HTML page:      https://secwatch.observer/filing/0000807863-23-000168

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer