Mitek appoints Edward H. West as CEO, grants $8M inducement equity awards

MITEK SYSTEMS INC

Ed West appointed CEO and Board member effective October 1, 2024; Scott Carter returns to non-executive chairman.
West receives $500K annual salary, $250K sign-on bonus, and target annual bonus of 100% of base salary.
Inducement awards: $8M total grant date value — $6.375M in performance-based RSUs (Russell 2000 and stock price targets) and $1.625M in time-based RSUs vesting over 4 years.
West previously served as CEO of Cardtronics plc, leading its transformation from hardware to fintech solutions.

item 3.02 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Kimberly Stevenson

Lead Independent Director

MITK · MITEK SYSTEMS INC

Effective: 2024-10-01
Filed: October 2, 2024, 7:59 PM ET

Kimberly Stevenson, who currently serves as the Board’s lead independent director, will cease serving in such capacity and will continue to serve on the Board and as a member of the Board’s audit committee and chair of the Board’s compensation committee.

Appointed

Edward H. West

Chief Executive Officer

MITK · MITEK SYSTEMS INC

Effective: 2024-10-01
Filed: October 2, 2024, 7:59 PM ET

On October 1, 2024, Mitek Systems, Inc. (the “Company”) announced that Edward H. West was appointed as the Company’s Chief Executive Officer, effective immediately.

Role change

Scott Carter

Non-executive Chairman of the Board

MITK · MITEK SYSTEMS INC

Effective: 2024-10-01
Filed: October 2, 2024, 7:59 PM ET

Scott Carter, who has served as the Company’s interim Chief Executive Officer since June 2024, is returning to his role as the Company’s non-executive chairman of the Board, effective October 1, 2024.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Kimberly Stevenson changed role as Lead Independent Director at MITEK SYSTEMS INC.

Action: ceases serving
Role: Lead Independent Director

Exact text from the filing

Kimberly Stevenson, who currently serves as the Board’s lead independent director, will cease serving in such capacity and will continue to serve on the Board and as a member of the Board’s audit committee and chair of the Board’s compensation committee.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Edward H. West was appointed as Chief Executive Officer at MITEK SYSTEMS INC.

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

On October 1, 2024, Mitek Systems, Inc. (the “Company”) announced that Edward H. West was appointed as the Company’s Chief Executive Officer, effective immediately.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Scott Carter changed role as Non-executive Chairman of the Board at MITEK SYSTEMS INC.

Action: returning to
Role: Non-executive Chairman of the Board

Exact text from the filing

Scott Carter, who has served as the Company’s interim Chief Executive Officer since June 2024, is returning to his role as the Company’s non-executive chairman of the Board, effective October 1, 2024.

View on SEC.gov

MITEK SYSTEMS INC filing history →

Source: SEC EDGAR

accession 0000807863-24-000101

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