secwatch.observer — SEC 8-K summary
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Issuer:     SOCKET MOBILE, INC. (SCKT)
CIK:        0000944075
Form:       8-K
Filed at:   2024-04-04T23:59:59+00:00
Accession:  0000944075-24-000019
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Socket Mobile extends CEO Kevin Mills' employment agreement to March 31, 2026
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- New employment agreement extends to March 31, 2026; prior agreement expired Sept 30, 2025.
- Severance: 6 months base salary plus COBRA premium reimbursement for 6 months on involuntary termination.
- Change-of-control provision: executive receives 1% of consideration if stock price >= $5.00/share.
- Unvested stock options cease vesting at termination; pro-rata vesting for restricted stock on involuntary termination.
- Voluntary termination with 60-day notice by executive with >10 years service allows post-termination option exercise for remaining grant life.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/944075/000094407524000019/0000944075-24-000019-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/944075/000094407524000019/form-8k0404.htm
  HTML page:      https://secwatch.observer/filing/0000944075-24-000019

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