---
schema_version: "secwatch.filing_event.v1"
accession: "0001830033-23-000083"
form_type: "8-K"
ticker: "PCT"
cik: "0001830033"
company_name: "PureCycle Technologies, Inc."
filed_at: "2023-12-01T23:59:59+00:00"
generated_at: "2026-06-07T19:31:46.571570+00:00"
event_type: "leadership"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# PureCycle reduces workforce by 22, CFO Somma departs, board member Fieler named interim CFO

## Summary
- Reduction-in-force of 22 employees (majority not at Ironton); post-separation headcount ~160. Severance costs ~$1M.
- CFO Lawrence C. Somma resigned effective Dec 1; receives $300K cash, pro-rated vesting, acceleration of 120,791 RSUs.
- Board member Jeff Fieler appointed interim CFO; compensation: $42,500/month in stock plus performance bonus of $360K-$720K.
- Committee changes: Allen Jacoby named N&G Chair, Fernando Musa to N&G, Steven Bouck to Audit & Finance.

## SEC filing metadata
- accession: 0001830033-23-000083
- form_type: 8-K
- ticker: PCT
- cik: 0001830033
- company_name: PureCycle Technologies, Inc.
- filed_at: 2023-12-01T23:59:59+00:00
- event_type: leadership
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.05, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1830033/000183003323000083/0001830033-23-000083-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1830033/000183003323000083/pct-20231127.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001830033-23-000083
- JSON: https://secwatch.observer/filing/0001830033-23-000083.json
- Plain text: https://secwatch.observer/filing/0001830033-23-000083.txt

## Key facts
- Executive change
  Jeff Fieler was appointed as Interim Chief Financial Officer at PureCycle Technologies, Inc..
  - Action: appointed
  - Role: Interim Chief Financial Officer
  source text: On November 27, 2023, the Company reached agreement with Jeff Fieler, 54, an independent member of the Board of Directors (“Board”), to serve as the Company’s interim Chief Financial Officer (“CFO”) while the Company conducts a search for a permanent CFO.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1830033/000183003323000083/0001830033-23-000083-index.htm
- Restructurings & Charges
  PureCycle Technologies, Inc. announced a restructuring with charges of approximately $1.0 million (22 employees).
  - Type: restructuring
  - Charge: approximately $1.0 million
  - Headcount: 22 employees
  source text: to be able maintain its historical strategic direction. The Company currently expects severance costs, principally in the form of payroll expenses, to total approximately $1.0 million. --- EX-99.1 (EX-99.1) --- PureCycle Appoints Jeff Fieler as Interim CFO Orlando, Florida – December 1, 2023 – PureCycle Technologies, Inc. (Nasdaq: PCT), today, announced
  evidence_url: https://www.sec.gov/Archives/edgar/data/1830033/000183003323000083/0001830033-23-000083-index.htm

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