secwatch.observer — SEC 8-K summary
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Issuer:     Praxis Precision Medicines, Inc. (PRAX)
CIK:        0001689548
Form:       8-K
Filed at:   2024-10-15T23:59:59+00:00
Accession:  0001104659-24-108345
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Praxis Precision amends exec severance; CEO multiplier 1.75x, CFO/GC 1x
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- CEO Marcio Souza gets 1.75x base salary plus target bonus, plus prorated bonus, on change-in-control qualifying termination.
- CFO Timothy Kelly and GC Alex Nemiroff get 1.0x base salary plus target bonus, plus prorated bonus, on change-in-control termination.
- Outside change-in-control, CEO gets 12 months base salary continuation; CFO and GC get 9 months.
- Amendments add unpaid prior year bonus and pro-rata annual bonus for executives on qualifying termination.
- Accelerated vesting of time-based equity awards upon change-in-control termination; performance awards per existing plan.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1689548/000110465924108345/0001104659-24-108345-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1689548/000110465924108345/tm2426107d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-108345

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