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Marathon Digital | 8-K: Long-Term Equity Incentive Compensation Program

SEC announcement ·  May 6 09:03
Summary by Moomoo AI
Marathon Digital Holdings, Inc. (Marathon Digital) filed a Form 8-K with the SEC on May 1, 2024, announcing the grant of Long-Term Incentive Program (LTIP) awards to its named executive officers. The LTIP, part of the company's 2018 Equity Incentive Plan, is designed to align executive compensation with company performance and stockholder interests. The awards, in the form of restricted stock units (RSUs), are contingent on the company's total stockholder return (TSR) performance relative to its peers from January 1, 2024, to December 31, 2024. The potential vesting of the 2024 LTIP Awards ranges from 0% to 200% of the target amount, based on the percentile of the company's TSR performance. CEO Fred Thiel, CFO Salman Khan, and General Counsel Zabi Nowaid are among the executives...Show More
Marathon Digital Holdings, Inc. (Marathon Digital) filed a Form 8-K with the SEC on May 1, 2024, announcing the grant of Long-Term Incentive Program (LTIP) awards to its named executive officers. The LTIP, part of the company's 2018 Equity Incentive Plan, is designed to align executive compensation with company performance and stockholder interests. The awards, in the form of restricted stock units (RSUs), are contingent on the company's total stockholder return (TSR) performance relative to its peers from January 1, 2024, to December 31, 2024. The potential vesting of the 2024 LTIP Awards ranges from 0% to 200% of the target amount, based on the percentile of the company's TSR performance. CEO Fred Thiel, CFO Salman Khan, and General Counsel Zabi Nowaid are among the executives receiving these awards, with Thiel's target award valued at $17.1 million, Khan's at $11.25 million, and Nowaid's at $4.5 million. The company also announced a strategic reorganization into business units to drive growth and diversify its portfolio, with James Crawford, Ashu Swami, and Adam Swick leading the digital asset mining, technology, and strategic initiatives and energy harvesting units, respectively.

This announcement is a separate document:

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