---
schema_version: "secwatch.filing_event.v1"
accession: "0001830033-22-000040"
form_type: "8-K"
ticker: "PCT"
cik: "0001830033"
company_name: "PureCycle Technologies, Inc."
filed_at: "2022-06-30T23:59:59+00:00"
generated_at: "2026-06-24T22:07:44.934743+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# PureCycle appoints Dustin Olson CEO, Dan Coombs Executive Chairman after Otworth resignation

## Summary
- Michael Otworth resigns as Chairman and CEO effective Aug 5, 2022; returns to Innventure; no disagreement cited.
- Dustin Olson (current COO & Chief Manufacturing Officer) promoted to CEO; joins Board.
- Dan Coombs appointed Executive Chairman for 12-month term; compensation: $450K salary, $225K bonus, $325K RSUs.
- Olson's new compensation: base salary $773K, STIP target 100%, equity award $1.65M (50% PSUs/50% RSUs).
- Otworth receives base salary through Aug 5, $500K partial STIP payout, forfeits unvested equity.

## SEC filing metadata
- accession: 0001830033-22-000040
- form_type: 8-K
- ticker: PCT
- cik: 0001830033
- company_name: PureCycle Technologies, Inc.
- filed_at: 2022-06-30T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1830033/000183003322000040/0001830033-22-000040-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1830033/000183003322000040/pct-20220624.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001830033-22-000040
- JSON: https://secwatch.observer/filing/0001830033-22-000040.json
- Plain text: https://secwatch.observer/filing/0001830033-22-000040.txt

## Key facts
- Executive change
  Dustin Olson was appointed as Chief Executive Officer at PureCycle Technologies, Inc..
  - Action: appointed
  - Role: Chief Executive Officer
  source text: the Board has appointed Dustin Olson as the Company’s Chief Executive Officer (“CEO”) as of the Effective Date.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1830033/000183003322000040/0001830033-22-000040-index.htm
- Executive change
  Michael Otworth resigned as Chairman of the Board and Chief Executive Officer at PureCycle Technologies, Inc..
  - Action: resigned
  - Role: Chairman of the Board and Chief Executive Officer
  source text: On June 24, 2022, Michael Otworth notified the Board of Directors (“Board”) of PureCycle Technologies, Inc. (the “Company’) of his decision to resign as Chairman of the Board and Chief Executive Officer of the Company effective August 5, 2022 (“Effective Date”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1830033/000183003322000040/0001830033-22-000040-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.