secwatch.observer — SEC 8-K summary
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Issuer:     Lite Strategy, Inc. (LITS)
CIK:        0001262104
Form:       8-K
Filed at:   2024-01-17T23:59:59+00:00
Accession:  0000950170-24-005013
Event type: leadership
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

MEI Pharma enters new CMO employment agreement; $503K salary, 40% bonus
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- Dr. Richard Ghalie continues as CMO under new agreement effective Jan 16, 2024; base salary $503,165.28, target bonus 40% of base.
- Termination without cause or for good reason: lump sum 12 months base, COBRA for 12 months, pro-rata bonus, 12-month option vesting acceleration.
- Change in control: full vesting of options if terminated without cause in 3 months before or 2 years after CIC.
- Death or disability triggers additional 12-month option vesting acceleration.
- Agreement aligns terms with other senior executives; replaces prior 2016 employment letter.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1262104/000095017024005013/0000950170-24-005013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1262104/000095017024005013/meip-20240116.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-005013

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