8-K
filed May 9, 2022, 7:59 PM ET
ticker VRM
CIK 0001580864
leadership
confidence high
sentiment neutral
materiality 0.70
Vroom appoints Thomas Shortt as CEO; grants performance-based equity awards
Vroom, Inc.
- Thomas H. Shortt appointed CEO, replacing Paul J. Hennessy effective May 9, 2022.
- Robert J. Mylod, Jr. appointed Independent Executive Chair to support leadership transition.
- Shortt's base salary increased to $700k; annual target bonus set at 100% of salary.
- Received RSU grant for 1.2M shares with vesting based on stock price thresholds ($7.50, $15, $21).
- Received option grant for 600k shares at $7.50 exercise price, vesting over three years.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Robert J. Mylod, Jr. was appointed as Independent Executive Chair at Vroom, Inc..
- Action
- appointed
- Role
- Independent Executive Chair
Exact text from the filing
Robert J. Mylod, Jr., the current Chairperson of the Board, has been appointed as the Independent Executive Chair of the Board
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Thomas H. Shortt was appointed as Chief Executive Officer at Vroom, Inc..
- Action
- appointed
- Role
- Chief Executive Officer
Exact text from the filing
appointed Thomas H. Shortt as the Company's Chief Executive Officer, to succeed Paul J. Hennessy upon Mr. Hennessy's resignation as Chief Executive Officer and a director of the Company, in each case effective as of May 9, 2022 (the "Effective Date"). Mr. Shortt ceased serving as the Company's Chief Operating Officer as of the Effective Date.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Paul J. Hennessy resigned as Director at Vroom, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
upon Mr. Hennessy's resignation as Chief Executive Officer and a director of the Company, in each case effective as of May 9, 2022
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Paul J. Hennessy resigned as Chief Executive Officer at Vroom, Inc..
- Action
- resigned
- Role
- Chief Executive Officer
Exact text from the filing
upon Mr. Hennessy's resignation as Chief Executive Officer and a director of the Company, in each case effective as of May 9, 2022
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Thomas H. Shortt was appointed as Director at Vroom, Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
Mr. Shortt has been appointed to the Board to fill the vacancy created by Mr. Hennessy's resignation, effective as of the Effective Date
View on SEC.gov
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