secwatch.observer — SEC 8-K summary
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Issuer:     PureCycle Technologies, Inc. (PCT)
CIK:        0001830033
Form:       8-K
Filed at:   2022-03-08T23:59:59+00:00
Accession:  0001830033-22-000005
Event type: leadership
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PureCycle awards $1.38M in 2021 bonuses, grants large 2022 equity; Dee ceases as officer
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- 2021 STIP payouts: Otworth $881,250, Dee $299,250, Brenner $199,750; Somma received $0.
- Michael Dee no longer serves as an officer; will not receive 2022 STIP or LTIP payments.
- 2022 STIP target awards: Otworth 100% ($772.5K base), Somma 70% ($500K base), Brenner 50% ($351.9K base).
- 2022 LTIP grants: Otworth 226,891 RSUs & 226,891 target PSUs; Somma 58,824 RSUs & 58,823 PSUs; Brenner 42,017 each.
- 2022 STIP objectives include Ironton commissioning, Augusta/Global expansion milestones.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1830033/000183003322000005/0001830033-22-000005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1830033/000183003322000005/pct-20220302.htm
  HTML page:      https://secwatch.observer/filing/0001830033-22-000005

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