secwatch.observer — SEC 8-K summary
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Issuer:     BLOOMIA HOLDINGS, INC. (TULP)
CIK:        0000875355
Form:       8-K
Filed at:   2023-07-19T23:59:59+00:00
Accession:  0001654954-23-009406
Event type: leadership
Sentiment:  negative
Materiality: 0.75
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/875355/000165495423009406/0001654954-23-009406-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/875355/000165495423009406/isig_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-23-009406

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