secwatch.observer — SEC 8-K summary
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Issuer:     Latch, Inc. (LTCH)
CIK:        0001826000
Form:       8-K
Filed at:   2024-08-13T23:59:59+00:00
Accession:  0001826000-24-000038
Event type: leadership
Sentiment:  neutral
Materiality: 0.70
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Latch extends cash comp for leadership, appoints Jason Mitura CPO, launches stock-price-linked equity plan
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- Jason Mitura appointed CPO effective Aug 16, 2024; previously CPO at Ring, base salary $350,000.
- Cash comp program extended: Siminoff $1,550,000/yr, Lillis $475,000/yr, Mitura $650,000/yr until exchange listing or Board termination.
- Performance equity program grants options (exercise price $0.41) and PSUs vesting at stock price hurdles $4-$6 and $1-$3 within 7 years.
- Siminoff receives 8M performance options, Mitura 7.5M, Lillis 3M; options earned in three tranches at $4, $5, $6 share prices.
- Employment agreement with Mitura includes 12-month salary severance if terminated without cause or for good reason, plus 12-month non-compete.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1826000/000182600024000038/0001826000-24-000038-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1826000/000182600024000038/lat-20240811.htm
  HTML page:      https://secwatch.observer/filing/0001826000-24-000038

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