Beneficient reclassifies $126M to permanent equity, appoints Patrick Donegan to board

Beneficient

Appointed Patrick J. Donegan as independent director, effective Sept 30, 2024; serves on Audit, Credit, Risk, and Related Party committees.
Donegan granted 100,000 stock options at $1.23/share and 138,212 RSUs, vesting quarterly over two and one years respectively.
Subsidiary BCH redesignated 50% of preferred equity as non-redeemable, reclassifying ~$126M from temporary to permanent equity.
Redesignation approved by founders holding majority of preferred equity; effective Sept 30, 2024.

item 1.01 item 5.02 item 7.01 item 9.01

Executive movements

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Appointed

Patrick J. Donegan

Director

BENF · Beneficient

Effective: 2024-09-30
Filed: October 4, 2024, 7:59 PM ET

On September 30, 2024, the board of directors (the “Board”) of the Company appointed Patrick J. Donegan to serve as a director of the Company, effective September 30, 2024.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 1.0

Patrick J. Donegan was appointed as Director at Beneficient.

Action: appointed
Role: Director

Exact text from the filing

On September 30, 2024, the board of directors (the “Board”) of the Company appointed Patrick J. Donegan to serve as a director of the Company, effective September 30, 2024.

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Beneficient filing history →

Source: SEC EDGAR

accession 0001493152-24-039473

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