Getaround appoints Eduardo Iniguez as CEO; $6M/$5M EBITDA milestone bonuses and equity grants of ~88M shares
Getaround, Inc
Eduardo Iniguez becomes CEO effective Feb 26, 2024; replaces co-founder Sam Zaid who remains on board.
Base salary of $650,000; annual bonus target 100% of base with 50% guaranteed minimum for 2024 and 2025.
Milestone bonuses: $6M if trailing 4-quarter adjusted EBITDA >= $0; $5M if adjusted EBITDA >= $25M.
Signing bonus of $350,000; equity inducement grants of up to 11.1M shares (10% current diluted) and up to 76.95M shares (10% future diluted upon note conversion).
Jason Mudrick, Mudrick Capital founder, appointed Chair of the Board.
On February 28, 2024, Getaround, Inc.. (the “Company”) announced its Board of Directors (the “Board”) appointed Eduardo Iniguez to the position of chief executive officer, effective as of February 26, 2024.
Key facts
Extracted from this filing and checked against the source text.
Executive changeSEC 8-K Item 5.02confidence 0.95
Eduardo Iniguez was appointed as Chief Executive Officer at Getaround, Inc.
Action
appointed
Role
Chief Executive Officer
Exact text from the filing
On February 28, 2024, Getaround, Inc.. (the “Company”) announced its Board of Directors (the “Board”) appointed Eduardo Iniguez to the position of chief executive officer, effective as of February 26, 2024.
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