secwatch.observer — SEC 8-K summary
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Issuer:     ENERGY FOCUS, INC/DE (EFOI)
CIK:        0000924168
Form:       8-K
Filed at:   2022-02-17T23:59:59+00:00
Accession:  0000924168-22-000013
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Energy Focus enters separation agreement with former CEO James Tu; 6-month salary continuation
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- James Tu's employment ends Feb 11, 2022; he resigns from board effective same date.
- Severance: $139,000 (6 months salary) paid in installments; COBRA subsidy for 6 months.
- Vested stock options remain exercisable for up to 1 year after separation; unvested options forfeited.
- Non-compete and non-solicitation covenants for 1 year; standstill and voting agreement for 6 months.
- Both parties agree to non-disparagement for 6 months; Tu returns all company property.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/924168/000092416822000013/0000924168-22-000013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/924168/000092416822000013/efoi-20220211.htm
  HTML page:      https://secwatch.observer/filing/0000924168-22-000013

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