Cash severance of $318,750 (9 months base salary) plus pro rata FY2024 bonus based on actual board-determined performance.
COBRA premium reimbursement for up to 9 months; all unvested stock options and RSUs cancelled and forfeited.
Vested options exercisable until 3 months after Separation Date (Nov 8, 2024) or award expiration, whichever earlier.
Separation agreement signed Jan 30, 2025; payments conditional on non-revocation of release and compliance with confidentiality, non-disparagement, and non-competition covenants.
On January 30, 2025, the Company and Mr. Bush entered into a Separation and Release of Claims Agreement (the “Separation Agreement”), pursuant to which Mr. Bush is entitled to receive the following payments and benefits in accordance with the existing terms of his employment agreement with the Company:
Key facts
Extracted from this filing and checked against the source text.
Executive changeSEC 8-K Item 5.02confidence 0.9
David Bush departed as Chief Financial Officer at STEM, INC..
Action
departed
Role
Chief Financial Officer
Exact text from the filing
On January 30, 2025, the Company and Mr. Bush entered into a Separation and Release of Claims Agreement (the “Separation Agreement”), pursuant to which Mr. Bush is entitled to receive the following payments and benefits in accordance with the existing terms of his employment agreement with the Company:
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