---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-048945"
form_type: "8-K"
ticker: null
cik: "0001762322"
company_name: "SHIFT TECHNOLOGIES, INC."
filed_at: "2023-06-14T23:59:59+00:00"
generated_at: "2026-06-14T01:23:45.505310+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Shift appoints auto entrepreneur Ayman Moussa as CEO; Clementz transitions to advisor

## Summary
- Ayman Moussa appointed CEO effective June 9, 2023; replaces Jeff Clementz who becomes strategic advisor.
- Moussa to receive $500k base salary, $500k signing bonus, and 1.9M RSUs (50% time-based, 50% performance-based).
- Moussa founded Carnamic, a Northern California auto dealership group with 8 locations and >$200M annual revenue.
- Board's strategic alternatives review (including debt options) remains ongoing.

## SEC filing metadata
- accession: 0001213900-23-048945
- form_type: 8-K
- cik: 0001762322
- company_name: SHIFT TECHNOLOGIES, INC.
- filed_at: 2023-06-14T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1762322/000121390023048945/0001213900-23-048945-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1762322/000121390023048945/ea180367-8k_shifttech.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-048945
- JSON: https://secwatch.observer/filing/0001213900-23-048945.json
- Plain text: https://secwatch.observer/filing/0001213900-23-048945.txt

## Key facts
- Executive change
  Jeff Clementz changed role as strategic advisor at SHIFT TECHNOLOGIES, INC..
  - Action: transitioned
  - Role: strategic advisor
  source text: Jeff Clementz transitioned from his role as Chief Executive Officer of the Company to serving as a strategic advisor to Mr. Moussa, the Board of Directors and the management team of the Company for a transition period.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1762322/000121390023048945/0001213900-23-048945-index.htm
- Executive change
  Jeff Clementz resigned as Director at SHIFT TECHNOLOGIES, INC..
  - Action: resigned
  - Role: Director
  source text: Also on the Transition Effective Date, Mr. Clementz resigned as a director of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1762322/000121390023048945/0001213900-23-048945-index.htm
- Executive change
  Ayman Moussa was appointed as Director at SHIFT TECHNOLOGIES, INC..
  - Action: appointed
  - Role: Director
  source text: Mr. Moussa was appointed to a vacant position on the Board of Directors on the Transition Effective Date, to serve as a Class II director.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1762322/000121390023048945/0001213900-23-048945-index.htm
- Executive change
  Ayman Moussa was appointed as Chief Executive Officer at SHIFT TECHNOLOGIES, INC..
  - Action: appointed
  - Role: Chief Executive Officer
  source text: appointed Ayman Moussa as the Company’s Chief Executive Officer, to succeed Jeff Clementz
  evidence_url: https://www.sec.gov/Archives/edgar/data/1762322/000121390023048945/0001213900-23-048945-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.