secwatch.observer — SEC 8-K summary
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Issuer:     Edgio, Inc. (—)
CIK:        0001391127
Form:       8-K
Filed at:   2024-01-02T23:59:59+00:00
Accession:  0001193125-24-000673
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Edgio promotes Todd Hinders to CEO; Bob Lyons steps down as President and CEO
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- Robert Lyons stepped down as President, CEO, and board member effective Dec 31, 2023; no disagreements.
- Todd Hinders, previously Chief Revenue Officer since May 2023, appointed CEO effective Jan 1, 2024 and joins board.
- Hinders' base salary raised from $380k to $525k; target annual incentive increased from 75% to 100% of base.
- Lyons eligible for severance: 12 months base salary, $55k 2023 bonus, vesting of 193,467 RSUs, and healthcare.
- Board chairman cites challenging 2023 but expresses confidence in Hinders and new leadership team.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1391127/000119312524000673/0001193125-24-000673-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1391127/000119312524000673/d187395d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-000673

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