secwatch.observer — SEC 8-K summary
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Issuer:     DOMO, INC. (DOMO)
CIK:        0001505952
Form:       8-K
Filed at:   2022-07-15T23:59:59+00:00
Accession:  0001505952-22-000021
Event type: litigation
Sentiment:  neutral
Materiality: 0.50
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Domo settles derivative suit over CEO compensation; to amend compensation committee charter
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- Settlement with stockholder plaintiff resolves claims over CEO compensation granted in 2020-2021; no admission of wrongdoing.
- Domo agrees to amend Compensation Committee charter to require at least three members and enhance procedures (advance materials, consultant report, annual evaluation).
- Domo responsible for attorney fees up to $225,000 plus $1,000 incentive award to plaintiff; court approval required.
- Upon court approval, all claims dismissed and governance reforms implemented to prevent recurrence.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1505952/000150595222000021/0001505952-22-000021-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1505952/000150595222000021/domo8k-20220613.htm
  HTML page:      https://secwatch.observer/filing/0001505952-22-000021

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