secwatch.observer — SEC 8-K summary
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Issuer:     Root, Inc. (ROOT)
CIK:        0001788882
Form:       8-K
Filed at:   2023-08-11T23:59:59+00:00
Accession:  0001628280-23-029070
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Root grants CEO 97,239 RSUs/209,896 PSUs, CTO $750K retention
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- Comp committee replaced annual LTI with four-year RSU/PSU grants for CEO, CFO, and CTO, effective Aug 9, 2023.
- CEO Timm: 97,239 RSUs & 209,896 PSUs; CFO Binkley: 70,904 RSUs & 15,922 PSUs; CTO Bonakdarpour: 72,316 RSUs & 143,476 PSUs.
- CTO Bonakdarpour also gets $750,000 cash retention in Aug 2023, repayable if he leaves before Aug 9, 2025.
- Clawback schedule: 100% if termination before Aug 9, 2024; 50% if Aug 10, 2024–Feb 9, 2025; 25% if Feb 10–Aug 9, 2025.
- PSUs vest based on time (4-year tranches) and stock price goals; unvested units forfeited upon termination per employment agreements.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1788882/000162828023029070/0001628280-23-029070-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1788882/000162828023029070/root-20230808.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-029070

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