secwatch.observer — SEC 8-K summary
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Issuer:     MARCHEX INC (MCHX)
CIK:        0001224133
Form:       8-K
Filed at:   2023-04-04T23:59:59+00:00
Accession:  0001564590-23-005366
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Marchex appoints Troy Hartless as Chief Revenue Officer with equity incentives and performance-based pay
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- Hartless joined as CRO effective April 3, 2023; annual base salary $375,000.
- Target bonus for 2023 of $350,000, based on revenue and adjusted OIBA targets; max 195% of target.
- Received 200,000 performance shares with 5-year cliff and accelerated vesting triggers; 150,000 time-vesting options over 4 years.
- Hartless previously served as COO of Govplace and CRO of Callis Communications.
- Severance includes accelerated vesting and lump-sum payments for termination without cause or change in control.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1224133/000156459023005366/0001564590-23-005366-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1224133/000156459023005366/mchx-8k_20230403.htm
  HTML page:      https://secwatch.observer/filing/0001564590-23-005366

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