--- schema_version: "secwatch.filing_event.v1" accession: "0001213900-24-029512" form_type: "8-K" ticker: null cik: "0001822250" company_name: "ContextLogic Inc." filed_at: "2024-04-03T23:59:59+00:00" generated_at: "2026-06-04T02:55:55.569591+00:00" event_type: "other_material" sentiment: "neutral" materiality_score: 0.85 calibrated_materiality_score: 0.85 confidence: "high" source: SEC EDGAR --- # ContextLogic to reconstitute board and management post-Qoo10 asset sale; focuses on $2.7B NOLs ## Summary - Rishi Bajaj to become CEO upon closing; Brett Just promoted to CFO. - Four new independent directors appointed: Michael Farlekas, Marshall Heinberg, Elizabeth LaPuma, Richard Parisi. - Six existing directors (including CEO Joe Yan) to resign upon closing. - Post-closing company to have ~$2.7B NOLs and $150-157M cash; lean executive team. - Bajaj to receive $1/year salary; Just to receive $550k salary, $450k bonus, RSUs. ## SEC filing metadata - accession: 0001213900-24-029512 - form_type: 8-K - cik: 0001822250 - company_name: ContextLogic Inc. - filed_at: 2024-04-03T23:59:59+00:00 - event_type: other_material - sentiment: neutral - materiality_score: 0.85 - calibrated_materiality_score: 0.85 - confidence: high - sec_items: 1.01, 5.02, 7.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1822250/000121390024029512/0001213900-24-029512-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1822250/000121390024029512/ea0203175-8k_context.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001213900-24-029512 - JSON: https://secwatch.observer/filing/0001213900-24-029512.json - Plain text: https://secwatch.observer/filing/0001213900-24-029512.txt ## Key facts - Executive change Marshall Heinberg was appointed as Director at ContextLogic Inc.. - Action: appointed - Role: Director source text: On April 1, 2024, the Board appointed the following directors to fill the vacancies resulting from the resignations and the decrease in the size of the Board referred to above, in each case, subject to, and effective upon, the Closing: Michael Farlekas, Marshall Heinberg, Elizabeth LaPuma and Richard Parisi. evidence_url: https://www.sec.gov/Archives/edgar/data/1822250/000121390024029512/0001213900-24-029512-index.htm - Executive change Tanzeen Syed resigned as Director at ContextLogic Inc.. - Action: resigned - Role: Director source text: On April 1, 2024, Tanzeen Syed, Julie Bradley, Lawrence Kutscher, Stephanie Tilenius, Hans Tung and Jun (Joe) Yan tendered their respective resignations as members of the Board and from all committees of the Board on which they serve, in each case, subject to, and effective upon, the Closing. evidence_url: https://www.sec.gov/Archives/edgar/data/1822250/000121390024029512/0001213900-24-029512-index.htm - Executive change Julie Bradley resigned as Director at ContextLogic Inc.. - Action: resigned - Role: Director source text: On April 1, 2024, Tanzeen Syed, Julie Bradley, Lawrence Kutscher, Stephanie Tilenius, Hans Tung and Jun (Joe) Yan tendered their respective resignations as members of the Board and from all committees of the Board on which they serve, in each case, subject to, and effective upon, the Closing. evidence_url: https://www.sec.gov/Archives/edgar/data/1822250/000121390024029512/0001213900-24-029512-index.htm - Executive change Richard Parisi was appointed as Director at ContextLogic Inc.. - Action: appointed - Role: Director source text: On April 1, 2024, the Board appointed the following directors to fill the vacancies resulting from the resignations and the decrease in the size of the Board referred to above, in each case, subject to, and effective upon, the Closing: Michael Farlekas, Marshall Heinberg, Elizabeth LaPuma and Richard Parisi. evidence_url: https://www.sec.gov/Archives/edgar/data/1822250/000121390024029512/0001213900-24-029512-index.htm - Executive change Stephanie Tilenius resigned as Director at ContextLogic Inc.. - Action: resigned - Role: Director source text: On April 1, 2024, Tanzeen Syed, Julie Bradley, Lawrence Kutscher, Stephanie Tilenius, Hans Tung and Jun (Joe) Yan tendered their respective resignations as members of the Board and from all committees of the Board on which they serve, in each case, subject to, and effective upon, the Closing. evidence_url: https://www.sec.gov/Archives/edgar/data/1822250/000121390024029512/0001213900-24-029512-index.htm - Executive change Michael Farlekas was appointed as Director at ContextLogic Inc.. - Action: appointed - Role: Director source text: On April 1, 2024, the Board appointed the following directors to fill the vacancies resulting from the resignations and the decrease in the size of the Board referred to above, in each case, subject to, and effective upon, the Closing: Michael Farlekas, Marshall Heinberg, Elizabeth LaPuma and Richard Parisi. evidence_url: https://www.sec.gov/Archives/edgar/data/1822250/000121390024029512/0001213900-24-029512-index.htm - Executive change Hans Tung resigned as Director at ContextLogic Inc.. - Action: resigned - Role: Director source text: On April 1, 2024, Tanzeen Syed, Julie Bradley, Lawrence Kutscher, Stephanie Tilenius, Hans Tung and Jun (Joe) Yan tendered their respective resignations as members of the Board and from all committees of the Board on which they serve, in each case, subject to, and effective upon, the Closing. evidence_url: https://www.sec.gov/Archives/edgar/data/1822250/000121390024029512/0001213900-24-029512-index.htm - Executive change Lawrence Kutscher resigned as Director at ContextLogic Inc.. - Action: resigned - Role: Director source text: On April 1, 2024, Tanzeen Syed, Julie Bradley, Lawrence Kutscher, Stephanie Tilenius, Hans Tung and Jun (Joe) Yan tendered their respective resignations as members of the Board and from all committees of the Board on which they serve, in each case, subject to, and effective upon, the Closing. evidence_url: https://www.sec.gov/Archives/edgar/data/1822250/000121390024029512/0001213900-24-029512-index.htm - Executive change Elizabeth LaPuma was appointed as Director at ContextLogic Inc.. - Action: appointed - Role: Director source text: On April 1, 2024, the Board appointed the following directors to fill the vacancies resulting from the resignations and the decrease in the size of the Board referred to above, in each case, subject to, and effective upon, the Closing: Michael Farlekas, Marshall Heinberg, Elizabeth LaPuma and Richard Parisi. evidence_url: https://www.sec.gov/Archives/edgar/data/1822250/000121390024029512/0001213900-24-029512-index.htm - Executive change Jun (Joe) Yan resigned as Director at ContextLogic Inc.. - Action: resigned - Role: Director source text: On April 1, 2024, Tanzeen Syed, Julie Bradley, Lawrence Kutscher, Stephanie Tilenius, Hans Tung and Jun (Joe) Yan tendered their respective resignations as members of the Board and from all committees of the Board on which they serve, in each case, subject to, and effective upon, the Closing. evidence_url: https://www.sec.gov/Archives/edgar/data/1822250/000121390024029512/0001213900-24-029512-index.htm - Executive change Rishi Bajaj was appointed as Chief Executive Officer at ContextLogic Inc.. - Action: appointed - Role: Chief Executive Officer source text: As disclosed below, effective upon, and subject to, the Closing, Mr. Bajaj was appointed by the Board on April 1, 2024, as the Company’s Chief Executive Officer. evidence_url: https://www.sec.gov/Archives/edgar/data/1822250/000121390024029512/0001213900-24-029512-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.