secwatch.observer — SEC 8-K summary
======================================

Issuer:     Beachbody Company, Inc. (BODI)
CIK:        0001826889
Form:       8-K
Filed at:   2024-04-16T23:59:59+00:00
Accession:  0000950170-24-044775
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Beachbody enters severance letter with President Michael Neimand: 0.5x salary (1x on CIC), equity vesting acceleration
--------------------------------------------------------------------------------

- Severance equal to 0.5x base salary (1x if termination within 12 months after change in control), paid over 6 months.
- Health insurance subsidy for 12 months; additional 12 months vesting on time-vesting equity (full acceleration on change in control).
- Severance conditioned on signing a general release of claims; cause and good reason definitions standard.
- Letter executed April 10, 2024; does not modify salary, benefits, or at-will status.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1826889/000095017024044775/0000950170-24-044775-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1826889/000095017024044775/body-20240410.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-044775

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