Business Context and Reporting Period
This Form 8-K is a current report filed by ShotSpotter, Inc. (trading symbol: SSTI) on March 6, 2020. The filing addresses Item 5.02 regarding the appointment of certain officers and compensatory arrangements. The company is incorporated in Delaware and its common stock is registered on The Nasdaq Capital Market.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on executive compensation adjustments effective January 1, 2020.
Material Changes
The primary material change reported is the approval of annual base salary increases and the establishment of target discretionary bonuses for four named executive officers, effective January 1, 2020.
| Named Executive Officer | Title | 2020 Annual Base Salary | Target Bonus (% of Base) |
|---|---|---|---|
| Ralph A. Clark | President and CEO | $450,000 | 90% |
| Alan R. Stewart | Chief Financial Officer | $350,000 | 55% |
| R. Sam Klepper | SVP, Marketing and Product Strategy | $250,000 | 40% |
| Gary T. Bunyard | SVP, Sales and Security | $220,000 | 22.2% |
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary regarding business performance. It notes that the discretionary bonuses are contingent upon the achievement of certain company and individual performance criteria. No specific risks or contingencies are detailed in this report.
Investor Verification Checklist
- Verify the effective date of the salary increases (January 1, 2020) against the company's fiscal calendar.
- Review the specific performance criteria required to achieve the stated target bonuses, as these are not detailed in this filing.
- Confirm the total compensation impact relative to the company's overall compensation expense in the most recent 10-K or 10-Q.
- Check for any subsequent filings regarding changes to executive roles or compensation.