secwatch.observer — SEC 8-K summary
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Issuer:     MARCHEX INC (MCHX)
CIK:        0001224133
Form:       8-K
Filed at:   2024-07-29T23:59:59+00:00
Accession:  0000950170-24-087293
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Marchex grants 400k stock options to CEO Miller and 300k to CRO Hartless; updates severance terms
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- CEO Miller: 250k options (4-yr, 25% yr1) plus 150k options (cliff vest yr4); exercise price = July 26 close.
- CRO Hartless: 200k options (4-yr, 25% yr1) plus 100k options (cliff vest yr4); same exercise price.
- Updated severance: termination without cause/good reason after CIC: 12-month salary + prior bonus (capped) + 12-month COBRA.
- Death/disability: 18-month COBRA; CIC or termination without cause before CIC: full equity acceleration.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1224133/000095017024087293/0000950170-24-087293-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1224133/000095017024087293/mchx-20240726.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-087293

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