Bumble President Tariq Shaukat resigns effective Aug 28; advisory role through Dec 31

Bumble Inc.

President Tariq Shaukat's resignation accelerated to Aug 28, 2023; he serves as advisor through Dec 31, 2023.
Equity awards continue to vest during advisory period: 389k options, 167k RSUs, 1.8M incentive units.
No severance payment; vested options exercisable until Dec 31, 2024; unvested awards forfeited after advisory term.
Restrictive covenants reaffirmed; transition date (Aug 28) starts post-termination covenant clock.
Release required for extended option exercise; company retains right to terminate for cause before Aug 28.

item 5.02 item 9.01

Executive movements

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Departed

Tariq M. Shaukat

President

BMBL · Bumble Inc.

Effective: 2023-08-28
Filed: August 23, 2023, 7:59 PM ET

On August 22, 2023, the Company entered into a Transition Agreement (the “Transition Agreement”) with Mr. Shaukat, pursuant to which Mr. Shaukat’s resignation will now become effective on August 28, 2023 (the “Effective Date”) and the Company will retain Mr. Shaukat in an advisory role from the Effective Date through December 31, 2023 (the “Advisory Period”).

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Tariq M. Shaukat resigned as President at Bumble Inc..

Action: resigned
Role: President

Exact text from the filing

On August 22, 2023, the Company entered into a Transition Agreement (the “Transition Agreement”) with Mr. Shaukat, pursuant to which Mr. Shaukat’s resignation will now become effective on August 28, 2023 (the “Effective Date”) and the Company will retain Mr. Shaukat in an advisory role from the Effective Date through December 31, 2023 (the “Advisory Period”).

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Bumble Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-219095

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