secwatch.observer — SEC 8-K summary
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Issuer:     INNOVATE Corp. (VATE)
CIK:        0001006837
Form:       8-K
Filed at:   2022-09-16T23:59:59+00:00
Accession:  0001006837-22-000104
Event type: leadership
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

INNOVATE Corp. eliminates CLO role; Joseph Ferraro departs Oct 14
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- Joseph Ferraro, Chief Legal Officer and Corporate Secretary, to leave Oct 14, 2022; role eliminated Sept 14.
- Severance: $488,750 over 24 bi-weekly payments; COBRA for 12 months; outplacement $10,000.
- 2022 bonus of $690,625 to be paid by Mar 15, 2023; full vesting of unvested equity awards.
- Consulting agreement: 3-month independent contractor role at $25,000/month, with possible extensions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1006837/000100683722000104/0001006837-22-000104-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1006837/000100683722000104/hchc-20220913.htm
  HTML page:      https://secwatch.observer/filing/0001006837-22-000104

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