secwatch.observer — SEC 8-K summary
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Issuer:     USBC, Inc. (USBC)
CIK:        0001074828
Form:       8-K
Filed at:   2023-01-25T23:59:59+00:00
Accession:  0001654954-23-000811
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

Know Labs CEO Phillip Bosua resigns, receives $400K severance; Chairman Ronald Erickson named CEO
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- Phillip Bosua resigned as CEO and Board member on Jan 23, 2023; not due to any disagreement with the company.
- Bosua receives $400,000 severance, $10k/month consulting fee for one year, and lock-up on 3,005,000 shares.
- Chairman Ronald P. Erickson appointed as CEO, effective Jan 23, 2023, while remaining Chairman of the Board.
- Bosua's outstanding stock options cease vesting; vested options exercisable for one year post-separation.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1074828/000165495423000811/0001654954-23-000811-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1074828/000165495423000811/know_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-23-000811

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