Marpai terminates President Lutz Finger, retains as consultant with $1M equity guarantee

Marpai, Inc.

Position terminated effective August 15, 2023; enters consulting agreement effective August 16, 2023.
Monthly retainer of $27,086 through Dec 31, 2023, then $27,912; 8 hours/week commitment.
Receives 400,000 new RSUs plus 96,154 previously issued RSUs, all fully vesting September 7, 2023.
Cash adjuster ensures total RSU value equals $1M based on Sept 6 closing price; Shortfall paid in 3 installments.
Initial term through Dec 31, 2023; extends automatically with 30-day termination notice by either party.

item 5.02 item 9.01

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Departed

Lutz Finger

President of Product and Development

MRAI · Marpai, Inc.

Effective: 2023-08-15
Filed: August 17, 2023, 7:59 PM ET

On August 16, 2023, Marpai, Inc. (the “Company”) executed a Separation Agreement (the “Agreement”) with Mr. Lutz Finger, the Company’s President of Product and Development, pursuant to which Mr. Finger’s position was terminated effective as of August 15, 2023.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Lutz Finger was terminated as President of Product and Development at Marpai, Inc..

Action: terminated
Role: President of Product and Development

Exact text from the filing

On August 16, 2023, Marpai, Inc. (the “Company”) executed a Separation Agreement (the “Agreement”) with Mr. Lutz Finger, the Company’s President of Product and Development, pursuant to which Mr. Finger’s position was terminated effective as of August 15, 2023.

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Marpai, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-043198

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