Skillsoft finalizes CEO agreement with Hovsepian: $772.5K salary, $1.5M bonus, stock-based awards

Skillsoft Corp.

Base salary $772,500, target annual bonus 100%, one-time $1.5M sign-on bonus.
Granted 500,000 time-based RSUs vesting ratably over four years.
Performance award up to $17M based on 30-day VWAP thresholds from $30 to $100.
Severance: 2x salary+bonus, COBRA 24 months, equity acceleration; change-in-control gross-up up to $13M.
Effective Sept 4, 2024; restrictive covenants include non-compete for 24 months post-employment.

item 5.02 item 9.01

Executive movements

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Role change

Ronald W. Hovsepian

Executive Chair and Chief Executive Officer

SKIL · Skillsoft Corp.

Effective: 2024-09-04
Filed: September 5, 2024, 7:59 PM ET

On September 4, 2024 (the “Effective Date”), the Company entered into a letter agreement with Mr. Hovsepian (the “Agreement”), pursuant to which he will serve as our Executive Chair and Chief Executive Officer.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Ronald W. Hovsepian was appointed as Executive Chair and Chief Executive Officer at Skillsoft Corp..

Action: appointed
Role: Executive Chair and Chief Executive Officer

Exact text from the filing

On September 4, 2024 (the “Effective Date”), the Company entered into a letter agreement with Mr. Hovsepian (the “Agreement”), pursuant to which he will serve as our Executive Chair and Chief Executive Officer.

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Skillsoft Corp. filing history →

Source: SEC EDGAR

accession 0001437749-24-028488

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