home · filing · 0000950170-24-116876
8-K filed October 24, 2024, 7:59 PM ET
ticker PHUN
CIK 0001665300
leadership
confidence high
sentiment negative
materiality 0.70
Phunware CEO Snavely resigns; audit committee shortfall triggers Nasdaq non-compliance
Phunware, Inc.
CEO Michael Snavely resigned Oct 22, 2024; Steve Chen named interim CEO.
Chen's resignation from audit committee leaves only 2 members, violating Nasdaq Rule 5605.
Snavely receives $262,500 severance (9 months pay) plus health coverage through July 2025.
Chen's interim CEO salary: $325k base, 50-200% target bonus, plus future option grant.
Company is evaluating options to regain compliance but can give no assurance.
Executive movements
Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements .
Role change
Stephen Chen
Chairperson of the Board
Effective 2024-10-22
Filed October 24, 2024, 7:59 PM ET
effective October 22, 2024, Mr. Chen resigned as Chairperson of the Board
Effective 2024-10-22
Filed October 24, 2024, 7:59 PM ET
the Board appointed its Chairperson and Class I director, Stephen Chen, as Interim Chief Executive Officer of the Company.
Departed
Michael Snavely
Chief Executive Officer
Effective 2024-10-22
Successor Stephen Chen
Filed October 24, 2024, 7:59 PM ET
On October 22, 2024, Michael Snavely tendered his resignation as Chief Executive Officer and a member of the Board of Directors of the Company.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.9
Stephen Chen resigned as Chairperson of the Board at Phunware, Inc..
Action resigned
Role Chairperson of the Board
Exact text from the filing
effective October 22, 2024, Mr. Chen resigned as Chairperson of the Board
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Stephen Chen was appointed as Interim Chief Executive Officer at Phunware, Inc..
Action appointed
Role Interim Chief Executive Officer
Exact text from the filing
the Board appointed its Chairperson and Class I director, Stephen Chen, as Interim Chief Executive Officer of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Michael Snavely resigned as Chief Executive Officer at Phunware, Inc..
Action resigned
Role Chief Executive Officer
Exact text from the filing
On October 22, 2024, Michael Snavely tendered his resignation as Chief Executive Officer and a member of the Board of Directors of the Company.
View on SEC.gov
Source: SEC EDGAR
accession 0000950170-24-116876
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