secwatch.observer — SEC 8-K summary
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Issuer:     AppLovin Corp (APP)
CIK:        0001751008
Form:       8-K
Filed at:   2023-03-13T23:59:59+00:00
Accession:  0001193125-23-069044
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

AppLovin grants CEO & CTO performance-based PSUs covering 17.26M shares with $36-$79 stock price targets
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- Total PSUs of 17,255,000 shares; 40% each to CEO Foroughi and CTO Shikin, 20% to Additional Participants.
- PSUs vest upon achieving Company Stock Price Targets of $36, $46.75, $57.50, $68.25, and $79.00 per share over 5 years.
- CEO must hold 6,902,000 shares for 5 years; other recipients must hold after-tax shares for at least 1 year.
- Time-based RSUs of 520,472 shares each also granted to Foroughi and Shikin, vesting fully on Feb 20, 2024.
- Board intends these PSUs to be exclusive performance awards for CEO & CTO for next 4 years, barring unforeseen changes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1751008/000119312523069044/0001193125-23-069044-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1751008/000119312523069044/d470139d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-069044

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