secwatch.observer — SEC 8-K summary
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Issuer:     AWARE INC /MA/ (AWRE)
CIK:        0001015739
Form:       8-K
Filed at:   2023-03-13T23:59:59+00:00
Accession:  0000950170-23-007608
Event type: other
Sentiment:  neutral
Materiality: 0.30
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Aware, Inc. adopts 2023 Executive Bonus Plan with target bonuses for four officers
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- CEO Robert Eckel target bonus $154,500; CRO Craig Herman $250,000; CTO Mohamed Lazzouni $143,000; CFO David Barcelo $103,000.
- Bonuses are 70% tied to financial goals (revenue and operating cash flow) and 30% to individualized operational goals.
- 50% payout at 85% of financial goals; 100% payout at 100% of goals, with pro-rata calculation between.
- If revenue target not met at 85%, operational bonus capped at 75% of eligible amount.
- Payment occurs ~45 days after fiscal 2023 close; forfeited if employment terminates for cause or resignation before payout.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1015739/000095017023007608/0000950170-23-007608-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1015739/000095017023007608/awre-20230309.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-007608

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