secwatch.observer — SEC 8-K summary
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Issuer:     FARADAY FUTURE INTELLIGENT ELECTRIC INC. (FFAI)
CIK:        0001805521
Form:       8-K/A
Filed at:   2023-02-01T23:59:59+00:00
Accession:  0001213900-23-006706
Event type: leadership
Sentiment:  negative
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Faraday Future finalizes ousted CEO Breitfeld's exit; severance includes salary through Mar 3, health, option extension
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- Lump-sum severance equals base salary from Dec 27, 2022 to Mar 3, 2023 at $1,687,500 annual rate.
- Company will pay monthly health insurance contributions through Mar 31, 2023.
- Post-termination exercise period for vested stock options extended to Mar 26, 2023.
- Breitfeld required to cooperate with transition and adhere to non-disparagement and confidentiality obligations.
- Original removal as CEO disclosed in Nov 28, 2022 8-K; amendment finalizes separation agreement signed Jan 30, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1805521/000121390023006706/0001213900-23-006706-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1805521/000121390023006706/ea172406-8ka1_faraday.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-006706

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