secwatch.observer — SEC 8-K summary
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Issuer:     PureCycle Technologies, Inc. (PCT)
CIK:        0001830033
Form:       8-K/A
Filed at:   2021-12-15T23:59:59+00:00
Accession:  0001104659-21-150082
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PureCycle CFO Michael Dee to depart Jan 15, 2022; receives $1.225M cash severance, accelerated equity
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- Separation agreement: $1M lump sum on Dec 31, 2021 plus $225K in 12 monthly installments.
- Vesting acceleration: 613,497 stock options, 666,667 restricted shares (half on separation, half on Ironton plant operational date).
- Additional benefits: 2021 bonus (actual performance), COBRA reimbursement up to 12 months, $20K attorneys' fees.
- Dee remains employee until Jan 15, 2022; reaffirms non-compete/non-solicitation covenants.
- CFO replacement Lawrence Somma effective Nov 15, 2021 as previously announced.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1830033/000110465921150082/0001104659-21-150082-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1830033/000110465921150082/tm2135505d1_8ka.htm
  HTML page:      https://secwatch.observer/filing/0001104659-21-150082

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