secwatch.observer — SEC 8-K summary
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Issuer:     Fabric.AI, Inc. (FABC)
CIK:        0001086745
Form:       8-K
Filed at:   2023-12-15T23:59:59+00:00
Accession:  0001493152-23-044973
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

AYRO CEO Wittenschlaeger resigns; Silverman named Executive Chairman, Hollingsworth Interim President
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- CEO Thomas Wittenschlaeger resigned Dec 13, 2023; no disagreement cited. Severance: 12 months base salary ($280K), $114,800 bonus, COBRA for up to 12 months.
- Chairman Joshua Silverman appointed Principal Executive Officer and Executive Chairman, effective Dec 14, 2023, with no additional compensation.
- CFO David Hollingsworth appointed Interim President of AYRO Operating Company; salary increased to $270K/year plus $25K one-time bonus.
- Company reports $48M cash, 4.9M shares outstanding; focused on cost rationalization, partnerships, and minimizing cash burn.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1086745/000149315223044973/0001493152-23-044973-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1086745/000149315223044973/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-044973

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