secwatch.observer — SEC 8-K summary
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Issuer:     MAGNITE, INC. (MGNI)
CIK:        0001595974
Form:       8-K
Filed at:   2021-08-31T23:59:59+00:00
Accession:  0001595974-21-000058
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Magnite grants CEO Barrett 516k total equity units; PSUs tied to $60/$80/$100 stock price
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- CEO Michael Barrett received 136,939 RSUs vesting one-third annually on Aug 15, 2023-2025.
- Also received 379,365 PSUs in three tranches with stock price hurdles of $60, $80, $100 over any trailing 60-day period.
- Performance period runs Aug 26, 2022 to Aug 26, 2026; PSUs vest upon price condition met, then earned over 3-5 years.
- Unearned PSUs accelerate upon involuntary termination; total potential dilution of 516,304 shares.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1595974/000159597421000058/0001595974-21-000058-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1595974/000159597421000058/mgni-20210826.htm
  HTML page:      https://secwatch.observer/filing/0001595974-21-000058

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