secwatch.observer — SEC 8-K summary
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Issuer:     Paymentus Holdings, Inc. (PAY)
CIK:        0001841156
Form:       8-K
Filed at:   2023-02-14T23:59:59+00:00
Accession:  0000950170-23-002793
Event type: other
Sentiment:  neutral
Materiality: 0.30
Item codes: 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Paymentus approves severance agreement for Interim CFO and revises director compensation policy
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- Board approved Change in Control and Severance Agreement for Interim CFO Paul Seamon.
- Outside change in control: Seamon gets 6 months base salary and healthcare if terminated without cause or for good reason.
- During change in control: lump sum 75% base salary, prorated bonus, 9 months healthcare, equity vesting acceleration.
- Board also adopted revised Outside Director Compensation Policy, removing initial $340K RSU grant for new non-employee directors.
- Revised policy adds cash compensation for short-term ad hoc board committees; effective Feb 13, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1841156/000095017023002793/0000950170-23-002793-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1841156/000095017023002793/pay-20230213.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-002793

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