secwatch.observer — SEC 8-K summary
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Issuer:     Douglas Elliman Inc. (DOUG)
CIK:        0001878897
Form:       8-K
Filed at:   2024-11-25T23:59:59+00:00
Accession:  0001878897-24-000057
Event type: leadership
Sentiment:  neutral
Materiality: 0.75
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Douglas Elliman enters CEO employment agreement with Michael Liebowitz
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- Liebowitz gets $800k salary, $800k signing bonus (pro-rata clawback if terminated without cause within 2 years).
- 1.5M restricted shares vesting over 3 years; 1.55M PSUs with performance stock price targets of $3, $4, $5+ for payout.
- PSU payout ranges from 775k to 2.325M shares based on 30-day VWAP at end of 3-year performance period.
- Severance without cause: 6 months base salary, prorated bonus, RSU acceleration, pro-rata PSUs (none if <1yr in).
- Change of control: 2x base salary lump sum, full RSU vest, PSU acceleration with price at change of control.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1878897/000187889724000057/0001878897-24-000057-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1878897/000187889724000057/doug-20241124.htm
  HTML page:      https://secwatch.observer/filing/0001878897-24-000057

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