LuxUrban Hotels names Robert Arigo CEO effective June 10, succeeding Shanoop Kothari

LUXURBAN HOTELS INC.

Robert Arigo appointed CEO effective June 10, 2024; Shanoop Kothari terminated without cause.
Arigo's three-year agreement: $450k base salary, up to $100k bonus, 500k restricted shares per year.
Board grants 1M restricted shares to Chairman Blutinger; vesting partly immediate upon amendments, remainder after $12M capital raise.
Company issues ~2.47M shares to officers for accrued salaries and 5.69M shares to Brian Ferdinand for waiving $1.8M consulting fees.

item 5.02 item 9.01

Executive movements

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Appointed

Robert Arigo

Chief Executive Officer

LUXURBAN HOTELS INC.

Effective: 2024-06-10
Filed: June 11, 2024, 7:59 PM ET

Effective June 10, 2024, Robert Arigo became our Chief Executive Officer.

Departed

Shanoop Kothari

Chief Executive Officer

LUXURBAN HOTELS INC.

Effective: 2024-06-10
Successor: Robert Arigo
Filed: June 11, 2024, 7:59 PM ET

Mr. Kothari’s employment being terminated by the Company without cause and principally based on the Company’s desire to bring significant hotel operations and field experience to the role of Chief Executive Officer.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Robert Arigo was appointed as Chief Executive Officer at LUXURBAN HOTELS INC..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

Effective June 10, 2024, Robert Arigo became our Chief Executive Officer.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Shanoop Kothari was terminated as Chief Executive Officer at LUXURBAN HOTELS INC..

Action: terminated
Role: Chief Executive Officer

Exact text from the filing

Mr. Kothari’s employment being terminated by the Company without cause and principally based on the Company’s desire to bring significant hotel operations and field experience to the role of Chief Executive Officer.

View on SEC.gov

Source: SEC EDGAR

accession 0001829126-24-004078

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