FARO CEO Michael Burger to retire July 1; transition agreement provides advisory role through June 2024

FARO TECHNOLOGIES INC

Burger will remain CEO through June 30, 2023, then serve as Strategic Advisor until June 30, 2024.
Burger resigned from the Board effective May 12, 2023; no disagreement cited.
During transition, Burger continues base salary; eligible for 2023 and prorated 2024 STIP bonuses subject to release.
Outstanding equity awards continue vesting during transition; acceleration triggers include termination without cause or change in control.
If terminated without cause before June 30, 2024, Burger receives lump-sum salary through that date, COBRA, and accelerated vesting.

item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Michael Burger

President and Chief Executive Officer

FARO TECHNOLOGIES INC

Effective: 2023-07-01
Filed: May 18, 2023, 7:59 PM ET

On May 3, 2023, the Company announced that its President and Chief Executive Officer, Michael Burger, had informed the Company that he intended to retire as President and Chief Executive Officer of the Company, with the retirement to be effective July 1, 2023.

Departed

Michael Burger

Director

FARO TECHNOLOGIES INC

Effective: 2023-05-12
Filed: May 18, 2023, 7:59 PM ET

On and effective as of the Effective Date, Mr. Burger resigned as a member of the board of directors of the Company

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Michael Burger changed role as President and Chief Executive Officer at FARO TECHNOLOGIES INC.

Action: retire
Role: President and Chief Executive Officer

Exact text from the filing

On May 3, 2023, the Company announced that its President and Chief Executive Officer, Michael Burger, had informed the Company that he intended to retire as President and Chief Executive Officer of the Company, with the retirement to be effective July 1, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Michael Burger resigned as Director at FARO TECHNOLOGIES INC.

Action: resigned
Role: Director

Exact text from the filing

On and effective as of the Effective Date, Mr. Burger resigned as a member of the board of directors of the Company

View on SEC.gov

Source: SEC EDGAR

accession 0001628280-23-018804

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