secwatch.observer — SEC 8-K summary
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Issuer:     ReposiTrak, Inc. (TRAK)
CIK:        0000050471
Form:       8-K
Filed at:   2022-09-08T23:59:59+00:00
Accession:  0001851734-22-000552
Event type: leadership
Sentiment:  neutral
Materiality: 0.45
Item codes: 1.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Park City Group enters employment agreement with CFO John Merrill through May 2026
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- Base salary of $275,000/year ($22,917 per month); discretionary bonus up to 50% of base salary.
- Grant of 50,000 restricted shares valued at $4.82 per share, vesting pro-rata over five years from May 16, 2022.
- Employment term ends May 15, 2026; renewable by mutual agreement.
- On involuntary termination other than for cause: 6 months base salary, COBRA benefits, full acceleration of unvested equity.
- Six-month non-compete in Salt Lake City metro area if employer enforces; non-solicitation of employees/customers.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/50471/000185173422000552/0001851734-22-000552-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/50471/000185173422000552/pcyg20220906_8k.htm
  HTML page:      https://secwatch.observer/filing/0001851734-22-000552

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