secwatch.observer — SEC 8-K summary
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Issuer:     PureCycle Technologies, Inc. (PCT)
CIK:        0001830033
Form:       8-K
Filed at:   2022-06-30T23:59:59+00:00
Accession:  0001830033-22-000040
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1830033/000183003322000040/0001830033-22-000040-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1830033/000183003322000040/pct-20220624.htm
  HTML page:      https://secwatch.observer/filing/0001830033-22-000040

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