secwatch.observer — SEC 8-K summary
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Issuer:     ACACIA RESEARCH CORP (ACTG)
CIK:        0000934549
Form:       8-K
Filed at:   2024-02-14T23:59:59+00:00
Accession:  0000934549-24-000009
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/934549/000093454924000009/0000934549-24-000009-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/934549/000093454924000009/actg-20240213.htm
  HTML page:      https://secwatch.observer/filing/0000934549-24-000009

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