Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
Separation Agreement with
On
• ifMr. Closser timely elects continued health insurance coverage under COBRA, the Company will pay, subject to applicable regulations, the COBRA premium payments onMr. Closser's behalf sufficient to continue coverage forMr. Closser and his covered dependents at its current level for up to six (6) months or, if earlier, until such time asMr. Closser becomes eligible for health insurance at another employer or is otherwise ineligible for COBRA; and • acceleration of vesting and settlement of restricted stock units ("RSUs") held byMr. Closser covering a total of 398,868 shares of common stock that were outstanding as of the Separation Date and had been granted pursuant to the Company's 2014 Stock Incentive Plan and 2021 Equity Incentive Plan, respectively; the shares of common stock will be granted toMr. Closser upon settlement of the RSUs no later thanDecember 31, 2022 , and all ofMr. Closser's remaining RSUs that were not vested as of the Separation Date will be forfeited.
The severance benefits payable to
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit Number Exhibit Description 10.1 Separation Agreement, dated as ofNovember 18, 2022 , by and between the registrant andDonald Closser . 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document).
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