Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 11, 2021, the Board of Directors (the "Board") of Arteris, Inc. (the
"Company") approved base salary increases effective as of November 1, 2021 and
increased target cash bonus amounts effective as of January 1, 2022 for each of
Charlie Janac, the Company's Chief Executive Officer, and Nick Hawkins, the
Company's Chief Financial Officer. Effective as of November 1, 2021, Mr. Janac's
base salary was increased to $370,000 from $315,100 and Mr. Hawkins' base salary
was increased to $313,200 from $293,200. With respect to the annual performance
bonus period that will commence on January 1, 2022, Mr. Janac's target bonus was
increased to 92% of his base salary from 35% and Mr. Hawkins' target bonus was
increased to 52% of his base salary from 35%.
In addition, effective as of December 1, 2021, Isabelle Geday, a member of the
Board and a named executive officer, transitioned to a consulting role with the
Company and entered into a consulting agreement with the Company. Pursuant to
the consulting agreement, Ms. Geday will provide services for an initial three
year term and is eligible to receive $26,445 per month for the first 12 months
of the consulting term and $19,445 per month for the remaining 24 months of the
consulting term. As a member of the Board and non-employee consultant, effective
as of December 1, 2021, Ms. Geday is also eligible to participant in the
Company's Non-Employee Director Compensation Program as described in the
Company's Form S-1 filed with the Securities Exchange Commission on October 22,
2021.
Item 9.01 Financial Statements and Exhibits.
Exhibit No. Description
10.1 Amended and Restated Project Assignment 1 to Independent
Contractor Services Agreement, dated as of August 16, 2021
between Arteris, Inc. and Isabelle Geday
104 Cover Page Interactive Data File (embedded within the Inline XBRL
Document)
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