Summary by Moomoo AI
Elastic has appointed Eric Prengel as interim Chief Financial Officer, effective December 14, 2024. Prengel's compensation package includes an annual base salary of $475,000 and eligibility for a 40% annual target cash incentive, prorated for the fiscal year ending April 30, 2025.The company will grant Prengel restricted stock units (RSUs) valued at approximately $2 million, vesting in two equal annual installments on December 14, 2025, and December 14, 2026. The grant is subject to continuous service requirements and company equity practices.Prengel will receive the company's standard change in control and severance benefits, protecting him if terminated without cause or upon resignation for good reason. Additionally, he will be covered under Elastic's standard indemnification agreement against certain liabilities related to his service.
