Business Context and Reporting Period
This Form 8-K Current Report was filed by Amplitude, Inc. on May 5, 2023. The report discloses a corporate governance event regarding the compensation of certain executive officers.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margin, debt, or liquidity metrics. The document focuses exclusively on executive compensation adjustments.
Material Changes
On May 5, 2023, the Board of Directors approved reductions to the base salaries of the Chief Executive Officer (Spenser Skates) and the Chief Technology Officer (Curtis Liu), effective May 1, 2023.
- Spenser Skates (CEO): Annual base salary reduced from $450,000 to $225,000.
- Curtis Liu (CTO): Annual base salary reduced from $400,000 to $200,000.
- Other Compensation: All other components of compensation for both officers remain unchanged.
Guidance, Outlook, and Risks
The filing contains no financial guidance, forward-looking outlook, management commentary on business performance, or discussion of risks and contingencies. The salary reductions were approved upon the recommendation of the CEO and CTO.
Key Facts for Investor Verification
- Verify the effective date of the salary reductions (May 1, 2023).
- Confirm that the salary cuts represent a 50% reduction for both the CEO and CTO.
- Note that the reductions apply only to base salary, with other compensation components remaining intact.
- Check subsequent filings for any impact on total executive compensation or cash flow.