Acacia Research appoints Martin D. McNulty Jr. as permanent CEO and director

ACACIA RESEARCH CORP

McNulty, interim CEO since Nov 1, 2022, becomes permanent CEO and joins Board (expanded to 7 members).
New employment agreement: $500K annual salary, annual bonus 100–150% of salary based on performance goals.
Performance-based RSUs tied to adjusted book value CAGR (2023–2025); settlement in stock if employed.
Termination without cause or resignation for good reason: 1.5x salary, 18 months health subsidies, pro-rata bonus at 125% target.
Perpetual confidentiality/non-disparagement; 18-month non-solicitation; standard indemnification.

item 5.02 item 9.01

Executive movements

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Appointed

Martin D. McNulty, Jr.

Chief Executive Officer

ACTG · ACACIA RESEARCH CORP

Effective: 2024-02-13
Filed: February 14, 2024, 6:59 PM ET

On February 13, 2024, the Board of Directors (the “Board”) of Acacia Research Corporation (the “Company”) appointed Martin D. McNulty, Jr. as the Company’s Chief Executive Officer on a permanent basis.

Appointed

Martin D. McNulty, Jr.

Director

ACTG · ACACIA RESEARCH CORP

Effective: 2024-02-13
Filed: February 14, 2024, 6:59 PM ET

the Board expanded the size of the Board from six to seven directors and the Board appointed Mr. McNulty as a director of the Company

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Martin D. McNulty, Jr. was appointed as Chief Executive Officer at ACACIA RESEARCH CORP.

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

On February 13, 2024, the Board of Directors (the “Board”) of Acacia Research Corporation (the “Company”) appointed Martin D. McNulty, Jr. as the Company’s Chief Executive Officer on a permanent basis.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Martin D. McNulty, Jr. was appointed as Director at ACACIA RESEARCH CORP.

Action: appointed
Role: Director

Exact text from the filing

the Board expanded the size of the Board from six to seven directors and the Board appointed Mr. McNulty as a director of the Company

View on SEC.gov

ACACIA RESEARCH CORP filing history →

Source: SEC EDGAR

accession 0000934549-24-000009

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