secwatch.observer — SEC 8-K summary
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Issuer:     PureCycle Technologies, Inc. (PCT)
CIK:        0001830033
Form:       8-K
Filed at:   2023-12-01T23:59:59+00:00
Accession:  0001830033-23-000083
Event type: leadership
Sentiment:  negative
Materiality: 0.75
Item codes: 2.05, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1830033/000183003323000083/0001830033-23-000083-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1830033/000183003323000083/pct-20231127.htm
  HTML page:      https://secwatch.observer/filing/0001830033-23-000083

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