secwatch.observer — SEC 8-K summary
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Issuer:     Root, Inc. (ROOT)
CIK:        0001788882
Form:       8-K
Filed at:   2024-11-15T23:59:59+00:00
Accession:  0001628280-24-048094
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Root grants performance-based RSUs to executives tied to 2025 adjusted EBITDA and new writings
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- CEO Alexander Timm granted 73,805 PSUs; CFO Megan Binkley 37,577; President/CTO Matt Bonakdarpour 66,207; CAO Jonathan Allison 35,790.
- PSUs vest based on achievement of 2025 adjusted EBITDA and new policies written goals, with up to 200% payout.
- After performance certification, 25% of earned units vest, with remaining 75% vesting annually over three years, subject to continued service.
- In a Change in Control, performance period shortens and PSUs vest at greater of target or prorated actual achievement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1788882/000162828024048094/0001628280-24-048094-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1788882/000162828024048094/root-20241113.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-048094

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