---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-23-009406"
form_type: "8-K"
ticker: "TULP"
cik: "0000875355"
company_name: "BLOOMIA HOLDINGS, INC."
filed_at: "2023-07-19T23:59:59+00:00"
generated_at: "2026-06-13T06:44:16.340751+00:00"
event_type: "leadership"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Insignia Systems terminates CEO Kristine Glancy effective Aug 31, 2023; severance tied to pending asset sale

## Summary
- CEO Kristine Glancy terminated without cause; employment ends August 31, 2023.
- Severance includes 200% of base salary ($629,200), 50% of 2023 target bonus ($78,650), COBRA payment ($18,075), outplacement ($5,000), and additional $200,000 lump sum.
- Payments contingent on execution of release and vary if asset sale to TIMIBO LLC closes by termination date.
- Company previously disclosed Asset Purchase Agreement dated May 24, 2023 with TIMIBO LLC.
- Board member Jacob Berning signed termination letter; Glancy acknowledged on July 14, 2023.

## SEC filing metadata
- accession: 0001654954-23-009406
- form_type: 8-K
- ticker: TULP
- cik: 0000875355
- company_name: BLOOMIA HOLDINGS, INC.
- filed_at: 2023-07-19T23:59:59+00:00
- event_type: leadership
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/875355/000165495423009406/0001654954-23-009406-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/875355/000165495423009406/isig_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-23-009406
- JSON: https://secwatch.observer/filing/0001654954-23-009406.json
- Plain text: https://secwatch.observer/filing/0001654954-23-009406.txt

## Key facts
- Executive change
  Kristine A. Glancy was terminated as President and Chief Executive Officer at BLOOMIA HOLDINGS, INC..
  - Action: terminated
  - Role: President and Chief Executive Officer
  source text: On July 13, 2023, Insignia Systems, Inc. (the “Company”) determined to terminate the employment of Kristine A. Glancy, its current President and Chief Executive Officer, effective as of August 31, 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/875355/000165495423009406/0001654954-23-009406-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.