{"schema_version":"secwatch.filing_event.v1","accession":"0001628280-23-029480","form_type":"8-K","ticker":null,"cik":"0001021096","company_name":"Troika Media Group, Inc.","filed_at":"2023-08-15T23:59:59+00:00","discovered_at":"2026-05-14T18:03:32.900527+00:00","generated_at":"2026-06-11T09:07:48.793668+00:00","sec_items":["5.02","9.01"],"event_type":"leadership","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Troika Media terminates CEO Toama and CFO Naidrich for cause; appoints interim officers","bullets":["Terminated CEO Sadiq Toama and CFO Erica Naidrich for 'Cause' after investigation into personal relationship and prior representations.","Appointed Grant Lyon as Interim CEO and Eric Glover as Interim CFO via Areté Capital Partners, effective August 15, 2023.","Areté engagement: $10,000/week for Lyon, $25,000/week for Glover, $15,000/week for staff, totaling $50,000 per week.","Special Committee investigation confirmed Toama and Naidrich had a long-standing personal relationship; Board determined gross misconduct.","Company has initiated search for permanent CEO and CFO; termination fee of $200,000 if Areté dismissed without cause within 3 months."],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-23-029480","json":"https://secwatch.observer/filing/0001628280-23-029480.json","markdown":"https://secwatch.observer/filing/0001628280-23-029480.md","text":"https://secwatch.observer/filing/0001628280-23-029480.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1021096/000162828023029480/0001628280-23-029480-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1021096/000162828023029480/trka-20230814.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-11T09:07:48.793668+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"22f2448766","claim":"Sadiq Toama departed as Chief Executive Officer at Troika Media Group, Inc..","evidence_excerpt":"Effective on August 14, 2023, Troika Media Group, Inc. (the “Company”) terminated the employment of Sadiq Toama, its Chief Executive Officer, for “Cause,” pursuant to the terms of his employment agreement.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1021096/000162828023029480/0001628280-23-029480-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"terminated for Cause"},{"label":"Role","value":"Chief Executive Officer"}],"fact_type":"executive_change"},{"claim_id":"2877724d07","claim":"Eric Glover was appointed as Interim Chief Financial Officer at Troika Media Group, Inc..","evidence_excerpt":"and Eric Glover as the Company’s Interim Chief Financial Officer.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1021096/000162828023029480/0001628280-23-029480-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Interim Chief Financial Officer"}],"fact_type":"executive_change"},{"claim_id":"355f389b6a","claim":"Sadiq Toama resigned as Director at Troika Media Group, Inc..","evidence_excerpt":"Mr. Toama was deemed to have resigned from the Company’s Board of Directors (the “Board”) immediately upon his termination, pursuant to the terms of his employment agreement.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1021096/000162828023029480/0001628280-23-029480-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"},{"claim_id":"6f04e62d5d","claim":"Erica Naidrich departed as Chief Financial Officer at Troika Media Group, Inc..","evidence_excerpt":"The Company has also terminated the employment of Erica Naidrich, its Chief Financial Officer, for “Cause,” pursuant to the terms of her employment agreement.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1021096/000162828023029480/0001628280-23-029480-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"terminated for Cause"},{"label":"Role","value":"Chief Financial Officer"}],"fact_type":"executive_change"},{"claim_id":"f49099d481","claim":"Grant Lyon was appointed as Interim Chief Executive Officer at Troika Media Group, Inc..","evidence_excerpt":"Effective immediately, the Company has appointed Grant Lyon, a current member of the Board, as the Company’s Interim Chief Executive Officer","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1021096/000162828023029480/0001628280-23-029480-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Interim Chief Executive Officer"}],"fact_type":"executive_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}