---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-116876"
form_type: "8-K"
ticker: "PHUN"
cik: "0001665300"
company_name: "Phunware, Inc."
filed_at: "2024-10-24T23:59:59+00:00"
generated_at: "2026-05-30T10:32:18.818178+00:00"
event_type: "leadership"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Phunware CEO Snavely resigns; audit committee shortfall triggers Nasdaq non-compliance

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-24-116876
- form_type: 8-K
- ticker: PHUN
- cik: 0001665300
- company_name: Phunware, Inc.
- filed_at: 2024-10-24T23:59:59+00:00
- event_type: leadership
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 3.01, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1665300/000095017024116876/0000950170-24-116876-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1665300/000095017024116876/phun-20241022.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-116876
- JSON: https://secwatch.observer/filing/0000950170-24-116876.json
- Plain text: https://secwatch.observer/filing/0000950170-24-116876.txt

## Key facts
- Executive change
  Stephen Chen resigned as Chairperson of the Board at Phunware, Inc..
  - Action: resigned
  - Role: Chairperson of the Board
  source text: effective October 22, 2024, Mr. Chen resigned as Chairperson of the Board
  evidence_url: https://www.sec.gov/Archives/edgar/data/1665300/000095017024116876/0000950170-24-116876-index.htm
- Executive change
  Stephen Chen was appointed as Interim Chief Executive Officer at Phunware, Inc..
  - Action: appointed
  - Role: Interim Chief Executive Officer
  source text: the Board appointed its Chairperson and Class I director, Stephen Chen, as Interim Chief Executive Officer of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1665300/000095017024116876/0000950170-24-116876-index.htm
- Executive change
  Michael Snavely resigned as Chief Executive Officer at Phunware, Inc..
  - Action: resigned
  - Role: Chief Executive Officer
  source text: On October 22, 2024, Michael Snavely tendered his resignation as Chief Executive Officer and a member of the Board of Directors of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1665300/000095017024116876/0000950170-24-116876-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.