secwatch.observer — SEC 8-K summary
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Issuer:     8X8 INC /DE/ (EGHT)
CIK:        0001023731
Form:       8-K
Filed at:   2022-12-07T23:59:59+00:00
Accession:  0001023731-22-000231
Event type: leadership
Sentiment:  negative
Materiality: 0.75
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CEO David Sipes resigns as director; separation provides $363,300 lump sum, equity acceleration
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- David Sipes resigned as director effective Nov 30, 2022; employment terminated same day as constructive termination.
- Lump sum severance of $363,300 comprising 50% base salary ($273,000) and prorated bonus ($90,300).
- COBRA premium reimbursement for 18 months; vesting accelerated by 24 months on time-based equity awards.
- Additional full acceleration of unvested equity if change-in-control occurs within 3 months after termination.
- Employee agrees to cooperate with company in winding up work and defending third-party actions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1023731/000102373122000231/0001023731-22-000231-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1023731/000102373122000231/eght-20221201.htm
  HTML page:      https://secwatch.observer/filing/0001023731-22-000231

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