secwatch.observer — SEC 8-K summary
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Issuer:     PROKIDNEY CORP. (PROK)
CIK:        0001850270
Form:       8-K/A
Filed at:   2023-12-05T23:59:59+00:00
Accession:  0000950170-23-068152
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ProKidney discloses CEO Bruce Culleton's pay: $625k base, 3M share option at $1.69
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- Base salary of $625,000 per year, eligible for annual bonus with 60% target.
- Option award for 3,000,000 Class A shares at $1.69 exercise price under 2022 Incentive Equity Plan.
- Vesting: 2M shares time-based (25% on Nov 15, 2024, then quarterly); 1M shares time and performance-based.
- Severance: 12 months salary/benefits on without-cause or good-reason termination; 18 months and full vesting on change in control.
- Employment agreement effective Nov 15, 2023; compensation details filed as Exhibit 10.1.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1850270/000095017023068152/0000950170-23-068152-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1850270/000095017023068152/prok-20231110.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-068152

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