8-K filed November 15, 2023, 6:59 PM ET CIK 0001826671

leadership confidence high sentiment negative materiality 0.80

Near Intelligence terminates CEO and President for cause; appoints new CEO, interim CFO, and GC

Near Intelligence, Inc.

CEO Anil Mathews and President Shobhit Shukla terminated for cause effective Nov 14, 2023, following internal investigation into financial mismanagement and alleged fraud.
New CEO Gladys Kong receives $75k retention bonus; base salary raised to $350k retroactive to Oct 1.
Interim CFO John Faieta gets $50k retention bonus; employment agreement provides $300k base salary and quarterly bonus tied to EBITDA/revenue.
CFO Rahul Agarwal remains on administrative leave while investigation into financial mismanagement is ongoing.
Paul Gross appointed General Counsel.

item 5.02 item 8.01 item 9.01

Executive movements

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Appointed (interim)

John Faieta

interim Chief Financial Officer

Near Intelligence, Inc.

Effective: 2023-11-10
Filed: November 15, 2023, 6:59 PM ET

On November 10, 2023, the Company entered into an employment agreement with John Faieta for continued service as interim Chief Financial Officer.

Departed

Anil Mathews

Chief Executive Officer

Near Intelligence, Inc.

Effective: 2023-11-14
Successor: Gladys Kong
Filed: November 15, 2023, 6:59 PM ET

On November 14, 2023, the Restructuring Committee of the Board of Directors (the “ Restructuring Committee ”) of Near Intelligence, Inc. (the “ Company ”) terminated the employment of Anil Mathews, the Company’s Chief Executive Officer, and Shobhit Shukla, the Company’s President, for cause, effective immediately, pursuant to the terms of their respective employment agreements.

Appointed

Gladys Kong

Chief Executive Officer

Near Intelligence, Inc.

Effective: 2023-11-14
Filed: November 15, 2023, 6:59 PM ET

On November 10, 2023, the Company entered into retention bonus agreements with Gladys Kong, the Company’s new Chief Executive Officer, following the termination of Mr. Matthews.

Departed

Shobhit Shukla

President

Near Intelligence, Inc.

Effective: 2023-11-14
Filed: November 15, 2023, 6:59 PM ET

On November 14, 2023, the Restructuring Committee of the Board of Directors (the “ Restructuring Committee ”) of Near Intelligence, Inc. (the “ Company ”) terminated the employment of Anil Mathews, the Company’s Chief Executive Officer, and Shobhit Shukla, the Company’s President, for cause, effective immediately, pursuant to the terms of their respective employment agreements.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

John Faieta was appointed as interim Chief Financial Officer at Near Intelligence, Inc..

Action: appointed
Role: interim Chief Financial Officer

Exact text from the filing

On November 10, 2023, the Company entered into an employment agreement with John Faieta for continued service as interim Chief Financial Officer.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Anil Mathews was terminated as Chief Executive Officer at Near Intelligence, Inc..

Action: terminated
Role: Chief Executive Officer

Exact text from the filing

On November 14, 2023, the Restructuring Committee of the Board of Directors (the “ Restructuring Committee ”) of Near Intelligence, Inc. (the “ Company ”) terminated the employment of Anil Mathews, the Company’s Chief Executive Officer, and Shobhit Shukla, the Company’s President, for cause, effective immediately, pursuant to the terms of their respective employment agreements.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Gladys Kong was appointed as Chief Executive Officer at Near Intelligence, Inc..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

On November 10, 2023, the Company entered into retention bonus agreements with Gladys Kong, the Company’s new Chief Executive Officer, following the termination of Mr. Matthews.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Shobhit Shukla was terminated as President at Near Intelligence, Inc..

Action: terminated
Role: President

Exact text from the filing

On November 14, 2023, the Restructuring Committee of the Board of Directors (the “ Restructuring Committee ”) of Near Intelligence, Inc. (the “ Company ”) terminated the employment of Anil Mathews, the Company’s Chief Executive Officer, and Shobhit Shukla, the Company’s President, for cause, effective immediately, pursuant to the terms of their respective employment agreements.

View on SEC.gov

Source: SEC EDGAR

accession 0001213900-23-087576

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