secwatch.observer — SEC 8-K summary
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Issuer:     Skillsoft Corp. (SKIL)
CIK:        0001774675
Form:       8-K
Filed at:   2024-09-05T23:59:59+00:00
Accession:  0001437749-24-028488
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1774675/000143774924028488/0001437749-24-028488-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1774675/000143774924028488/skil20240905_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-028488

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