8-K
filed May 2, 2023, 7:59 PM ET
ticker MKTW
CIK 0001805651
other material
confidence high
sentiment neutral
materiality 0.75
MarketWise settles proxy contest; appoints four new directors, board to shrink to nine
MARKETWISE, INC.
- Directors Eifrig, Tongue, Smith appointed per settlement; Turner added via Voting Agreement; Borges resigned.
- Board fixed at ten until 2023 annual meeting (Idzik's term ends), then reduced to nine.
- Investors withdraw nominations, agree to vote for Board's nominees; standstill 90 days after 2023 meeting.
- Proxy contest resolved; no financial terms disclosed; settlement filed as Exhibit 10.1.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
David Eifrig was appointed as Director at MARKETWISE, INC..
- Action
- appointed
- Role
- Director
Exact text from the filing
the Company appointed Matthew Turner, David Eifrig, Glenn Tongue and Matthew Smith (the “New Directors”) as members of the Board, effective immediately.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Manuel Borges resigned as Director at MARKETWISE, INC..
- Action
- resigned
- Role
- Director
Exact text from the filing
Mr. Manuel Borges resigned as a director of the Company
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Glenn Tongue was appointed as Director at MARKETWISE, INC..
- Action
- appointed
- Role
- Director
Exact text from the filing
the Company appointed Matthew Turner, David Eifrig, Glenn Tongue and Matthew Smith (the “New Directors”) as members of the Board, effective immediately.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Matthew Smith was appointed as Director at MARKETWISE, INC..
- Action
- appointed
- Role
- Director
Exact text from the filing
the Company appointed Matthew Turner, David Eifrig, Glenn Tongue and Matthew Smith (the “New Directors”) as members of the Board, effective immediately.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Matthew Turner was appointed as Director at MARKETWISE, INC..
- Action
- appointed
- Role
- Director
Exact text from the filing
the Company appointed Matthew Turner, David Eifrig, Glenn Tongue and Matthew Smith (the “New Directors”) as members of the Board, effective immediately.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
MARKETWISE, INC. entered into Settlement Agreement with F. Porter Stansberry and Stokes Holdings, LLC (effective 2023-04-28).
- Action
- entry
- Agreement
- settlement
- Counterparty
- F. Porter Stansberry and Stokes Holdings, LLC
- Effective
- 2023-04-28
Exact text from the filing
On April 28, 2023, MarketWise, Inc. (the “Company”) entered into a Settlement Agreement (the “Settlement Agreement”) by and among the Company, F. Porter Stansberry and Stokes Holdings, LLC (collectively, the “Investors”)
View on SEC.gov
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