secwatch.observer — SEC 8-K summary
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Issuer:     Mastech Digital, Inc. (MHH)
CIK:        0001437226
Form:       8-K
Filed at:   2024-12-16T23:59:59+00:00
Accession:  0001193125-24-279042
Event type: leadership
Sentiment:  neutral
Materiality: 0.85
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mastech Digital names Nirav Patel as CEO; Vivek Gupta resigns effective Jan 6, 2025
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- Nirav Patel appointed President, CEO and board member effective Jan 6, 2025; base salary $1M, cash signing bonus $2M.
- Patel receives stock options to purchase 702,358 shares vesting over time and based on market cap milestones ($300M, $450M, $600M).
- Vivek Gupta resigns as CEO and director effective Jan 6, 2025; will stay as employee through Feb 28, 2025 for transition.
- Gupta's resignation not due to disagreement; he will receive payments per separation agreement under his existing employment contract.
- Board approved 2024 Inducement Stock Incentive Plan reserving 1.5M shares for equity grants to new hires as employment inducements.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1437226/000119312524279042/0001193125-24-279042-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1437226/000119312524279042/d848286d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-279042

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