iRobot appoints Gary S. Cohen as President and CEO effective May 6, 2024

IROBOT CORP

Gary Cohen, 63, former CEO of Qualitor Automotive and Timex, becomes CEO, succeeding Glen D. Weinstein.
Cohen receives $700k base salary, bonus target 100% of base (guaranteed 50% prorated for 2024), plus 290k time-based RSUs and 435k performance-based RSUs.
Weinstein to provide transition services for 60 days; eligible for $430k severance and full vesting acceleration of 115,163 RSUs and 1-year accelerated vesting on other equity.
Employment agreement provides 12 months salary severance for non-Cause termination and 24 months salary plus 200% bonus if termination follows a Change in Control.

item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Glen D. Weinstein

Chief Executive Officer

IROBOT CORP

Effective: 2024-05-06
Successor: Gary S. Cohen
Filed: May 7, 2024, 7:59 PM ET

Mr. Weinstein will provide transition services as a Company employee for the 60-day period following the Effective Date, following which his employment will terminate.

Appointed

Gary S. Cohen

President and Chief Executive Officer

IROBOT CORP

Effective: 2024-05-06
Filed: May 7, 2024, 7:59 PM ET

The Board of Directors (“Board”) of iRobot Corporation (the “Company”) has appointed Gary S. Cohen as the Company’s President and Chief Executive Officer effective May 6, 2024

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Glen D. Weinstein resigned as Chief Executive Officer at IROBOT CORP.

Action: resigned
Role: Chief Executive Officer

Exact text from the filing

Mr. Weinstein will provide transition services as a Company employee for the 60-day period following the Effective Date, following which his employment will terminate.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Gary S. Cohen was appointed as President and Chief Executive Officer at IROBOT CORP.

Action: appointed
Role: President and Chief Executive Officer

Exact text from the filing

The Board of Directors (“Board”) of iRobot Corporation (the “Company”) has appointed Gary S. Cohen as the Company’s President and Chief Executive Officer effective May 6, 2024

View on SEC.gov

Source: SEC EDGAR

accession 0001159167-24-000035

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