Movella appoints Eric Salzman as permanent CEO; salary $480k, target bonus $120k

Movella Holdings Inc.

Eric Salzman appointed permanent CEO effective June 11, 2024, after serving as interim CEO since Jan 1, 2024.
Base salary of $480,000 annually plus target annual bonus up to $120,000 based on board-established goals.
Severance includes lump sum of base salary plus annual bonus upon involuntary termination, subject to release.
Company to adopt achievement bonus plan tied to consummation of qualifying sale or restructuring transaction.
Employment is at-will; includes arbitration agreement and confidentiality obligations.

item 5.02 item 9.01

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Role change

Eric Salzman

Chief Executive Officer

Movella Holdings Inc.

Effective: 2024-06-11
Filed: June 18, 2024, 7:59 PM ET

The Board has subsequently approved the appointment of Mr. Salzman as Chief Executive Officer on a permanent, non-interim basis effective upon the execution of an employment agreement with Mr. Salzman on June 11, 2024.

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Executive change SEC 8-K Item 5.02 confidence 0.95

Eric Salzman was appointed as Chief Executive Officer at Movella Holdings Inc..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

The Board has subsequently approved the appointment of Mr. Salzman as Chief Executive Officer on a permanent, non-interim basis effective upon the execution of an employment agreement with Mr. Salzman on June 11, 2024.

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Source: SEC EDGAR

accession 0001628280-24-028574

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