secwatch.observer — SEC 8-K summary
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Issuer:     Latch, Inc. (LTCH)
CIK:        0001826000
Form:       8-K
Filed at:   2022-12-05T23:59:59+00:00
Accession:  0001826000-22-000119
Event type: leadership
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Latch enters severance agreement with Interim CFO Barry Schaeffer
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- Agreement effective Dec 2, 2022, one-year term; provides severance if terminated without cause during term.
- Without-cause severance: cash equal to one-half base salary plus annualized CFO bonus (approx. $448K currently).
- Change-in-control termination: cash equal to 1x (base salary + CFO bonus + annual target bonus), 12 months COBRA, and 50% equity acceleration.
- Receipt of benefits requires signing a release and compliance with restrictive covenants.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1826000/000182600022000119/0001826000-22-000119-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1826000/000182600022000119/lat-20221202.htm
  HTML page:      https://secwatch.observer/filing/0001826000-22-000119

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