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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 ·  05/18 05:19

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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,在納斯達克資本市場上市、交易代碼爲CYN的公司Cyngn Inc. 披露了與其首席財務官唐納德·阿爾瓦雷斯簽訂的遣散和控制權變更協議的執行情況。該協議概述了阿爾瓦雷斯在無故解僱或出於正當理由辭職時將獲得遣散費(包括一次性付款)的條件,以及公司控制權變更時的條款。控制權變更的定義包括諸如單一實體收購Cyngn50%以上的已發行股份、合併或出售公司幾乎所有資產等情景。遣散費包括阿爾瓦雷斯六個月的基本工資、按比例計算的年度獎金或解僱當年的一次性同等金額、部分未歸屬股權獎勵和六個月的COBRA保費支付。這些福利取決於阿爾瓦雷斯是否執行了Cyngn Inc可以接受的釋放表。
2024年5月15日,在納斯達克資本市場上市、交易代碼爲CYN的公司Cyngn Inc. 披露了與其首席財務官唐納德·阿爾瓦雷斯簽訂的遣散和控制權變更協議的執行情況。該協議概述了阿爾瓦雷斯在無故解僱或出於正當理由辭職時將獲得遣散費(包括一次性付款)的條件,以及公司控制權變更時的條款。控制權變更的定義包括諸如單一實體收購Cyngn50%以上的已發行股份、合併或出售公司幾乎所有資產等情景。遣散費包括阿爾瓦雷斯六個月的基本工資、按比例計算的年度獎金或解僱當年的一次性同等金額、部分未歸屬股權獎勵和六個月的COBRA保費支付。這些福利取決於阿爾瓦雷斯是否執行了Cyngn Inc可以接受的釋放表。
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