secwatch.observer — SEC 8-K summary
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Issuer:     Crimson Wine Group, Ltd (CWGL)
CIK:        0001562151
Form:       8-K
Filed at:   2022-04-12T23:59:59+00:00
Accession:  0001562151-22-000010
Event type: other_material
Sentiment:  neutral
Materiality: 0.30
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Crimson Wine grants CEO 500k performance-vested options, raises base salary to $375k
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- CEO Jennifer L. Locke granted options to purchase 500,000 shares at $7.50, expiring March 11, 2032.
- Options vest in four tranches (50k/100k/150k/200k) tied to Adjusted EBITDA targets for fiscal 2022-2025.
- Base salary increased to $375,000; target annual cash bonus set at 50% of base salary effective Jan 1, 2022.
- Options also have time-based vesting: 25% vests immediately upon performance goal satisfaction, remainder over 3 years.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1562151/000156215122000010/0001562151-22-000010-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1562151/000156215122000010/cwgl-20220209.htm
  HTML page:      https://secwatch.observer/filing/0001562151-22-000010

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