secwatch.observer — SEC 8-K summary
======================================

Issuer:     Verde Clean Fuels, Inc. (VGAS)
CIK:        0001841425
Form:       8-K
Filed at:   2023-04-17T23:59:59+00:00
Accession:  0001213900-23-030260
Event type: other_material
Sentiment:  neutral
Materiality: 0.45
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Verde Clean Fuels enters employment agreements with CEO Miller ($508k base) and CTO Doyle ($400k base)
--------------------------------------------------------------------------------

- CEO Ernest Miller: base salary $508,000, annual cash bonus target up to 75% of base, initial option grant with $889,000 Black-Scholes fair value.
- CTO John Doyle: base salary $400,000, annual cash bonus target up to 50% of base, initial option grant with $600,000 fair value.
- Both agreements have a 4-year term ending Feb 15, 2027; severance equal to 1.5x base salary (18 months) if terminated without cause or for good reason.
- Change-in-control severance: Miller receives 2.625x base, Doyle receives 2.25x base, each in a lump sum if termination occurs within 24 months after a CIC.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1841425/000121390023030260/0001213900-23-030260-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1841425/000121390023030260/ea177059-8k_verdeclean.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-030260

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