secwatch.observer — SEC 8-K summary
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Issuer:     Enovix Corp (ENVX)
CIK:        0001828318
Form:       8-K
Filed at:   2022-11-14T23:59:59+00:00
Accession:  0001193125-22-284640
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Enovix appoints Ajay Marathe as COO effective Nov 14, 2022
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- Ajay Marathe appointed COO, effective November 14, 2022; previously SVP Operations at Western Digital and COO at Lumileds.
- Annual base salary of $450,000; target annual cash bonus of 80% of base salary.
- Granted RSU award for 833,000 shares; 1/5th vests after 12 months, remainder monthly over four years.
- Severance includes 9 months base salary cash, health coverage, pro-rated bonus, accelerated vesting of 18 months equity (non-CIC); 75% equity acceleration on CIC termination.
- Marathe will execute standard indemnification agreement for officers.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1828318/000119312522284640/0001193125-22-284640-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1828318/000119312522284640/d405262d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-284640

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