FARO promotes Matthew Horwath to CFO; Allen Muhich to depart as CFO effective Jan 16, 2024

FARO TECHNOLOGIES INC

Matthew Horwath appointed SVP & CFO effective Jan 16, 2024; previously VP of Finance.
Allen Muhich steps down as CFO but remains employee/strategic advisor through April 1, 2024.
Horwath compensation: $385k base salary, 65% target bonus, $800k RSU grant (60% performance, 40% time-vested).
Muhich receives lump sum of $452,632 (annual salary) and up to 12 months COBRA premium coverage.
Transition described as amicable; search included internal and external candidates per CEO Peter Lau.

item 5.02 item 7.01

Executive movements

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Departed

Allen Muhich

Chief Financial Officer

FARO TECHNOLOGIES INC

Effective: 2024-01-16
Successor: Matthew Horwath
Filed: January 16, 2024, 6:59 PM ET

Mr. Horwath will succeed Allen Muhich, who will cease serving and depart as Chief Financial Officer effective as of the Effective Date.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Allen Muhich departed as Chief Financial Officer at FARO TECHNOLOGIES INC.

Action: depart
Role: Chief Financial Officer

Exact text from the filing

Mr. Horwath will succeed Allen Muhich, who will cease serving and depart as Chief Financial Officer effective as of the Effective Date.

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Source: SEC EDGAR

accession 0000917491-24-000001

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