Sigma Additive CEO to resign upon NextTrip acquisition close; retention bonuses approved for CEO and CFO

NextTrip, Inc.

CEO Jacob Brunsberg to resign as President and CEO upon NextTrip acquisition closing; receives $204,511 prorated retention bonus.
Brunsberg also gets $62,500 separation payment (3 months' salary) and equity award of 31,250 shares subject to stockholder approval.
CFO Frank Orzechowski to remain after close; gets $109,073 prorated retention bonus and $200,000 severance if terminated without cause/for good reason within 18 months.
If acquisition fails, bonuses only payable if asset sale to Divergent Technologies closes; otherwise agreements void.
Prior change-in-control agreements for both executives terminated as of November 22, 2023.

item 5.02 item 9.01

Executive movements

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Departed

Jacob Brunsberg

President and Chief Executive Officer

NTRP · NextTrip, Inc.

Successor: William Kerby
Filed: November 24, 2023, 6:59 PM ET

Mr. Brunsberg will resign as our President and Chief Executive Officer and as an employee of the Company concurrently with the closing of the acquisition and that William Kerby, the co-founder and Chief Executive Officer of NextTrip, will concurrently be appointed as our Chief Executive Officer.

Appointed

William Kerby

Chief Executive Officer

NTRP · NextTrip, Inc.

Filed: November 24, 2023, 6:59 PM ET

Mr. Brunsberg will resign as our President and Chief Executive Officer and as an employee of the Company concurrently with the closing of the acquisition and that William Kerby, the co-founder and Chief Executive Officer of NextTrip, will concurrently be appointed as our Chief Executive Officer.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Jacob Brunsberg resigned as President and Chief Executive Officer at NextTrip, Inc..

Action: resigned
Role: President and Chief Executive Officer

Exact text from the filing

Mr. Brunsberg will resign as our President and Chief Executive Officer and as an employee of the Company concurrently with the closing of the acquisition and that William Kerby, the co-founder and Chief Executive Officer of NextTrip, will concurrently be appointed as our Chief Executive Officer.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

William Kerby was appointed as Chief Executive Officer at NextTrip, Inc..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

Mr. Brunsberg will resign as our President and Chief Executive Officer and as an employee of the Company concurrently with the closing of the acquisition and that William Kerby, the co-founder and Chief Executive Officer of NextTrip, will concurrently be appointed as our Chief Executive Officer.

View on SEC.gov

NextTrip, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-042671

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