secwatch.observer — SEC 8-K summary
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Issuer:     STEM, INC. (STEM)
CIK:        0001758766
Form:       8-K
Filed at:   2024-09-16T23:59:59+00:00
Accession:  0001758766-24-000166
Event type: leadership
Sentiment:  neutral
Materiality: 0.70
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Stem CEO John Carrington steps down; David Buzby named interim CEO
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- John Carrington stepped down as CEO and Board member effective Sept 11, 2024; will serve as advisor through Dec 31, 2024.
- Board appointed current Executive Chair David Buzby as interim CEO; Buzby will continue as Executive Chair.
- Board is conducting a search for a permanent CEO, including internal and external candidates.
- Company is concluding its previously announced strategy review and expects to announce outcome in coming weeks.
- Buzby's compensation: base salary $600k annualized, 125% target bonus (50% guaranteed), 400k stock options at $1.00.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1758766/000175876624000166/0001758766-24-000166-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1758766/000175876624000166/stem-20240911.htm
  HTML page:      https://secwatch.observer/filing/0001758766-24-000166

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