FOXO provides termination reasons for CEO Jon Sabes and COO Steven Sabes

FOXO TECHNOLOGIES INC.

Board terminated CEO Jon Sabes after losing confidence; former CPO resigned citing strong disagreement.
Other senior executives prepared to resign unless Jon Sabes replaced, per Board notes.
Board terminated COO Steven Sabes for insufficiently fulfilling responsibilities.
Company reviewing obligations to ex-CEO Jon Sabes under prior employment agreement.

item 5.02

Executive movements

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Departed

Jon Sabes

Chief Executive Officer and Chairman

FOXO · FOXO TECHNOLOGIES INC.

Effective: 2022-11-14
Filed: January 6, 2023, 6:59 PM ET

The Board determined to terminate Jon Sabes as Chief Executive Officer and Chairman of the Board because it had lost confidence in his ability to act in an executive officer capacity of the Company following the Company’s business combination with Delwinds Insurance Acquisition Corp., and its increased obligations as a public company.

Departed

Steven Sabes

Chief Operating Officer

FOXO · FOXO TECHNOLOGIES INC.

Effective: 2022-11-14
Filed: January 6, 2023, 6:59 PM ET

The Board determined to terminate Steven Sabes as Chief Operating Officer due to the Board’s view that Steven Sabes was not sufficiently fulfilling his responsibilities in such position.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Jon Sabes was terminated as Chief Executive Officer and Chairman at FOXO TECHNOLOGIES INC..

Action: terminated
Role: Chief Executive Officer and Chairman

Exact text from the filing

The Board determined to terminate Jon Sabes as Chief Executive Officer and Chairman of the Board because it had lost confidence in his ability to act in an executive officer capacity of the Company following the Company’s business combination with Delwinds Insurance Acquisition Corp., and its increased obligations as a public company.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Steven Sabes was terminated as Chief Operating Officer at FOXO TECHNOLOGIES INC..

Action: terminated
Role: Chief Operating Officer

Exact text from the filing

The Board determined to terminate Steven Sabes as Chief Operating Officer due to the Board’s view that Steven Sabes was not sufficiently fulfilling his responsibilities in such position.

View on SEC.gov

FOXO TECHNOLOGIES INC. filing history →

Source: SEC EDGAR

accession 0001213900-23-001448

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