---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-219938"
form_type: "8-K"
ticker: "CMRC"
cik: "0001626450"
company_name: "Commerce.com, Inc."
filed_at: "2022-08-12T23:59:59+00:00"
generated_at: "2026-06-24T00:22:28.337770+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# BigCommerce approves severance: CEO gets 12-mo pay, other execs 6-mo on qualifying termination

## Summary
- Compensation Committee approved severance letters on Aug 9, 2022 for CEO Brent Bellm, CFO Robert Alvarez, CCO Russell Klein, CSO Robert Kaloustian, CTO Brian Dhatt.
- Non-CIC qualifying termination: CEO receives 12 months base salary and healthcare; other execs receive 6 months each.
- CIC-related qualifying termination (within 3 months before or 18 months after change in control): all execs receive 12 months base salary and healthcare.
- Severance conditioned on execution of release and continued compliance with restrictive covenants.
- Letters supersede prior salary severance and healthcare agreements but not other benefits like equity acceleration.

## SEC filing metadata
- accession: 0001193125-22-219938
- form_type: 8-K
- ticker: CMRC
- cik: 0001626450
- company_name: Commerce.com, Inc.
- filed_at: 2022-08-12T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1626450/000119312522219938/0001193125-22-219938-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1626450/000119312522219938/d353137d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-219938
- JSON: https://secwatch.observer/filing/0001193125-22-219938.json
- Plain text: https://secwatch.observer/filing/0001193125-22-219938.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.