Phunware grants new CEO 1.47M RSUs, separates from CTO, authorizes $5M bitcoin-funded buyback

Phunware, Inc.

CTO Luan Dang's employment expired Dec 26, 2022; separation agreement provides $29,890 cash and termination of unvested equity.
New CEO Russell Buyse granted 1,470,588 RSUs under 2022 Inducement Plan, vesting over 3 years from Dec 28, 2022.
Board authorized $5M stock repurchase program over 12 months, funded by liquidation of bitcoin holdings.
Inducement plan reserves 1,470,588 shares for future new-hire equity grants under Nasdaq Rule 5635(c)(4).

item 5.02 item 7.01 item 9.01

Executive movements

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Departed

Luan Dang

Chief Technology Officer

PHUN · Phunware, Inc.

Effective: 2022-12-26
Filed: January 6, 2023, 6:59 PM ET

Mr. Dang's employment agreement expired on December 26, 2022.

Appointed

Russell Buyse

Chief Executive Officer

PHUN · Phunware, Inc.

Effective: 2022-12-28
Filed: January 6, 2023, 6:59 PM ET

the Company entered into a Confidential Executive Employment Agreement with Russell Buyse to serve as Chief Executive Officer of the Company effective December 28, 2022.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Luan Dang departed as Chief Technology Officer at Phunware, Inc..

Action: expired and separated
Role: Chief Technology Officer

Exact text from the filing

Mr. Dang's employment agreement expired on December 26, 2022.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Russell Buyse was appointed as Chief Executive Officer at Phunware, Inc..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

the Company entered into a Confidential Executive Employment Agreement with Russell Buyse to serve as Chief Executive Officer of the Company effective December 28, 2022.

View on SEC.gov

Phunware, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-000659

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