---
schema_version: "secwatch.filing_event.v1"
accession: "0001013762-23-003251"
form_type: "8-K"
ticker: null
cik: "0001698113"
company_name: "ID Auto, Inc."
filed_at: "2023-10-11T23:59:59+00:00"
generated_at: "2026-06-10T01:42:26.076439+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# PARTS iD restructures $27.4M vendor debt, CFO resigns

## Summary
- RSA pays trade vendors 55% of claims (12.5% upfront, 42.5% over 36 months); total vendor claims up to $27.4M.
- Company must raise at least $10M in new capital (Restructuring Funds) to trigger initial payment.
- CFO James Doss resigns effective Nov 20, 2023 for personal reasons; search for successor underway.
- Convenience claims ($10k or less) settled at 65% in lump sum after initial payment.
- Vendors agree to forbear from litigation or bankruptcy petitions during support period.

## SEC filing metadata
- accession: 0001013762-23-003251
- form_type: 8-K
- cik: 0001698113
- company_name: ID Auto, Inc.
- filed_at: 2023-10-11T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1698113/000101376223003251/0001013762-23-003251-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1698113/000101376223003251/ea185750-8k_partsidinc.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001013762-23-003251
- JSON: https://secwatch.observer/filing/0001013762-23-003251.json
- Plain text: https://secwatch.observer/filing/0001013762-23-003251.txt

## Key facts
- Executive change
  James Doss resigned as Chief Financial Officer at ID Auto, Inc..
  - Action: resigned
  - Role: Chief Financial Officer
  source text: On October 4, 2023, James Doss, the Company’s Chief Financial Officer (“CFO”) notified the Company that he will be resigning as the CFO and principal financial officer of the Company for personal reasons, effective November 20, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1698113/000101376223003251/0001013762-23-003251-index.htm
- Material Agreements
  ID Auto, Inc. entered into Restructuring Support Agreement with certain trade vendors (effective 2023-10-06).
  - Action: entry
  - Counterparty: certain trade vendors
  - Effective: 2023-10-06
  source text: On October 6, 2023, PARTS iD, Inc., a Delaware corporation (the “Company”) and its subsidiary, PAARTS iD, LLC, a Delaware limited liability company, entered into a definitive Restructuring Support Agreement (the “RSA”) to restructure the Company’s indebtedness with certain of its trade vendors (the “Consenting Vendors”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1698113/000101376223003251/0001013762-23-003251-index.htm

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