secwatch.observer — SEC 8-K summary
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Issuer:     Climb Global Solutions, Inc. (CLMB)
CIK:        0000945983
Form:       8-K
Filed at:   2023-04-20T23:59:59+00:00
Accession:  0001558370-23-006328
Event type: leadership
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Climb Global Solutions adopts executive severance and change in control plan
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- Board approved Severance Plan on April 14, 2023, with three tiers of benefits tied to seniority.
- Plan changes equity vesting from single to double trigger upon change in control for all awards.
- CEO Dale Foster designated Tier 1; CFO Andrew Clark, CMO Charles Bass, CIO Vito Legrottaglie designated Tier 2.
- Plan replaces prior severance agreements for named executive officers who signed participation agreements on April 20, 2023.
- Severance includes base salary continuation, COBRA, pro-rated bonus, and equity acceleration based on tier and termination type.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/945983/000155837023006328/0001558370-23-006328-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/945983/000155837023006328/clmb-20230414x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-006328

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