secwatch.observer — SEC 8-K summary
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Issuer:     CEVA INC (CEVA)
CIK:        0001173489
Form:       8-K
Filed at:   2023-02-21T23:59:59+00:00
Accession:  0001437749-23-004005
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CEVA grants $3.2M inducement award to new CEO Amir Panush
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- Inducement award: 14,541 RSUs, up to 28,354 short-term PSUs, 60,587 long-term PSUs, total grant value $3.2M.
- RSUs vest over 3 years; short-term PSUs vest based on 2023 license revenue and TSR vs S&P and Russell indices.
- Long-term PSUs vest upon achieving any of: non-GAAP EPS CAGR 10%, operating margin 20%, revenue CAGR 10% or $180M, or market cap $1.1B.
- 2023 executive bonus plans for CEO (70% target), CFO/COO (50%), and CCO (commission-based) with revenue, EPS, royalty, and customer targets.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1173489/000143774923004005/0001437749-23-004005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1173489/000143774923004005/ceva20230217_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-004005

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