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Cyngn | 8-K: Current report

Cyngn | 8-K: Current report

Cyngn | 8-K：重大事件
美股SEC公告 ·  05/17 17:19

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On May 15, 2024, Cyngn Inc., a company listed on The Nasdaq Capital Market under the trading symbol CYN, disclosed the execution of a Severance and Change of Control Agreement with its Chief Financial Officer, Donald Alvarez. The agreement outlines the conditions under which Alvarez would receive severance benefits, including a lump sum payment, should his employment be terminated without cause or if he resigns for good reason, as well as provisions in the event of a change of control of the company. The definition of a change of control includes scenarios such as a single entity acquiring more than 50% of Cyngn's outstanding shares, a merger, or the sale of substantially all of the company's assets. The severance package includes six months of Alvarez's base salary, a pro-rated annual bonus or a lump sum equivalent for the year of termination, a portion of unvested equity awards, and six months of COBRA premium payments. The benefits are contingent upon Alvarez's execution of a release form acceptable to Cyngn Inc.
On May 15, 2024, Cyngn Inc., a company listed on The Nasdaq Capital Market under the trading symbol CYN, disclosed the execution of a Severance and Change of Control Agreement with its Chief Financial Officer, Donald Alvarez. The agreement outlines the conditions under which Alvarez would receive severance benefits, including a lump sum payment, should his employment be terminated without cause or if he resigns for good reason, as well as provisions in the event of a change of control of the company. The definition of a change of control includes scenarios such as a single entity acquiring more than 50% of Cyngn's outstanding shares, a merger, or the sale of substantially all of the company's assets. The severance package includes six months of Alvarez's base salary, a pro-rated annual bonus or a lump sum equivalent for the year of termination, a portion of unvested equity awards, and six months of COBRA premium payments. The benefits are contingent upon Alvarez's execution of a release form acceptable to Cyngn Inc.
2024年5月15日，在纳斯达克资本市场上市、交易代码为CYN的公司Cyngn Inc. 披露了与其首席财务官唐纳德·阿尔瓦雷斯签订的遣散和控制权变更协议的执行情况。该协议概述了阿尔瓦雷斯在无故解雇或出于正当理由辞职时将获得遣散费（包括一次性付款）的条件，以及公司控制权变更时的条款。控制权变更的定义包括诸如单一实体收购Cyngn50％以上的已发行股份、合并或出售公司几乎所有资产等情景。遣散费包括阿尔瓦雷斯六个月的基本工资、按比例计算的年度奖金或解雇当年的一次性同等金额、部分未归属股权奖励和六个月的COBRA保费支付。这些福利取决于阿尔瓦雷斯是否执行了Cyngn Inc可以接受的释放表。
2024年5月15日，在纳斯达克资本市场上市、交易代码为CYN的公司Cyngn Inc. 披露了与其首席财务官唐纳德·阿尔瓦雷斯签订的遣散和控制权变更协议的执行情况。该协议概述了阿尔瓦雷斯在无故解雇或出于正当理由辞职时将获得遣散费（包括一次性付款）的条件，以及公司控制权变更时的条款。控制权变更的定义包括诸如单一实体收购Cyngn50％以上的已发行股份、合并或出售公司几乎所有资产等情景。遣散费包括阿尔瓦雷斯六个月的基本工资、按比例计算的年度奖金或解雇当年的一次性同等金额、部分未归属股权奖励和六个月的COBRA保费支付。这些福利取决于阿尔瓦雷斯是否执行了Cyngn Inc可以接受的释放表。
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