MARA Holdings, Inc. current report, 01 March 2013

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Business Context and Reporting Period

This Form 8-K Current Report was filed by Marathon Patent Group, Inc. (not MARA Holdings, Inc.) on March 6, 2013, covering events occurring on March 1, 2013. The company operates in the intellectual property and internet technology sectors, focusing on patent enforcement and the development of IP services.

Key Financial Metrics

This filing does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The report focuses exclusively on executive appointments and employment agreements.

Material Changes

The primary material change reported is the appointment of two new principal officers effective March 1, 2013:

  • Nathaniel Bradley was appointed Chief Technology Officer and President of IP Services.
  • James Crawford was appointed Chief Operating Officer.

Management Commentary and Employment Terms

Management highlighted the new officers' extensive backgrounds in internet technology, mobile marketing, and patent enforcement. Both executives have experience in patent litigation and hold numerous patents or patents pending.

Employment Agreement Terms

  • Nathaniel Bradley:
    • Base Salary: $195,000 annually.
    • Stock Options: 1,000,000 shares (5-year term, vesting over 24 months).
    • Term: 2 years with automatic 1-year renewals.
  • James Crawford:
    • Base Salary: $185,000 annually.
    • Stock Options: 500,000 shares (5-year term, vesting over 24 months).
    • Term: 2 years with automatic 1-year renewals.

Both executives are eligible for annual bonuses based on criteria set by the Compensation Committee. The filing notes no family relationships between the new officers and existing directors.

Investor Verification Checklist

  • Verify the company name is Marathon Patent Group, Inc., distinct from MARA Holdings, Inc.
  • Confirm the vesting schedule and strike price for the 1.5 million total stock options granted.
  • Review the attached press release (Exhibit 99.1) for additional strategic context.
  • Check subsequent filings for financial performance data, as this 8-K contains none.