secwatch.observer — SEC 8-K summary
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Issuer:     Brand Engagement Network Inc. (BNAI)
CIK:        0001838163
Form:       8-K
Filed at:   2024-08-22T23:59:59+00:00
Accession:  0001493152-24-033580
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 3.02, 8.01, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Co-CEO Zacharski resigns; Paul Chang appointed sole CEO; $360K fees converted to shares
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- Michael Zacharski resigned as co-CEO and director effective Aug 16, 2024; no disagreement with management.
- Separation benefits: $250,000 bonus, $91,666.67 cash payment, forfeiture of 1,012,875 options; 337,625 options extended.
- Paul Chang appointed CEO (from co-CEO) and Class II director, effective immediately.
- Company issued 151,261 shares at $2.38 to DHC Sponsor to convert $360,000 in outstanding fees.
- Shares issued in unregistered transaction under Section 4(a)(2) and Regulation D.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1838163/000149315224033580/0001493152-24-033580-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1838163/000149315224033580/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-033580

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