Bird Global amends 8-K to detail CEO Torchiana separation: $275K cash, accelerated equity

Bird Global, Inc.

CEO Shane Torchiana departed Aug 9, 2023; separation agreement dated Aug 16, 2023 includes $275,000 cash payment (6 months base salary).
Immediate vesting of 134,251 RSUs valued at $275,000 (VWAP $2.0484); half locked up 3 months, half 6 months.
Unvested time-based equity accelerated as if Torchiana stayed 36 months post-departure, excludes separation equity.
One-year advisory consulting period from Aug 10, 2023 to Aug 10, 2024; COBRA lump sum of approx $5,000.
Separation conditioned on compliance with release, non-disparagement, non-solicitation, and confidentiality obligations.

item 5.02 item 9.01

Executive movements

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Departed

Shane Torchiana

Chief Executive Officer

Bird Global, Inc.

Effective: 2023-08-09
Filed: August 18, 2023, 7:59 PM ET

the departure of Shane Torchiana from his position as the Chief Executive Officer of the Company, effective as of August 9, 2023

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Shane Torchiana departed as Chief Executive Officer at Bird Global, Inc..

Action: departed
Role: Chief Executive Officer

Exact text from the filing

the departure of Shane Torchiana from his position as the Chief Executive Officer of the Company, effective as of August 9, 2023

View on SEC.gov

Source: SEC EDGAR

accession 0001861449-23-000181

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