secwatch.observer — SEC 8-K summary
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Issuer:     FARO TECHNOLOGIES INC (—)
CIK:        0000917491
Form:       8-K
Filed at:   2024-01-16T23:59:59+00:00
Accession:  0000917491-24-000001
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/917491/000091749124000001/0000917491-24-000001-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/917491/000091749124000001/faro-20240112.htm
  HTML page:      https://secwatch.observer/filing/0000917491-24-000001

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