secwatch.observer — SEC 8-K summary
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Issuer:     XTI Aerospace, Inc. (XTIA)
CIK:        0001529113
Form:       8-K
Filed at:   2025-03-28T23:59:59+00:00
Accession:  0001013762-25-003568
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

XTI Aerospace settles with former CEO; to pay ~$3.9M for stock redemption and terminations
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- Redeems 1,164 shares of Series 9 Preferred Stock for $1,251,651.
- Terminates Ali Consulting Agreement; pays $60,000 cash and $1.5M in three installments through Dec 2025.
- Forgives $1M owed by Grafiti Group under Equity Purchase Agreement as part of settlement.
- Must pay $803,261 in Bonus Plan payments and $303,373 to former CFO Loundermon by April 26, 2025.
- Failure to pay Former Management Payments on time accelerates full $1.5M deferred amount.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1529113/000101376225003568/0001013762-25-003568-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1529113/000101376225003568/ea0236010-8k_xti.htm
  HTML page:      https://secwatch.observer/filing/0001013762-25-003568

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