Pagaya Technologies Ltd. - Form 8-K Summary
Business Context and Reporting Period
This Form 8-K was filed on December 2, 2024, by Pagaya Technologies Ltd., an emerging growth company incorporated in Israel. The report discloses a material change in executive leadership effective December 2, 2024.
Key Financial Metrics
The filing does not provide financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on personnel changes and compensation arrangements.
Material Changes
The primary material change is the appointment of Cory Vieira as Chief Accounting Officer and principal accounting officer. Mr. Vieira brings extensive experience from BHG Financial, American Express, GE Capital, and PricewaterhouseCoopers.
Management Commentary and Compensation
In connection with the appointment, the Company entered into an offer letter with the following compensation terms:
- Annual Base Salary: $375,000
- 2024 Cash Bonus: At least $150,000 (subject to repayment if resigned or terminated for cause within one year)
- One-Time Cash Bonus: $20,000
- Equity Grant: To be determined by the Compensation Committee
- Benefits: Eligibility to participate in employee benefit plans
The filing states there are no family relationships between Mr. Vieira and other officers or directors, and no undisclosed transactions requiring disclosure under Item 404(a) of Regulation S-K.
Investor Verification Checklist
- Verify the effective date of the Chief Accounting Officer appointment (December 2, 2024).
- Confirm the specific terms of the equity grant once determined by the Compensation Committee.
- Review the repayment conditions for the $150,000 cash bonus regarding resignation or termination for cause.
- Check for any subsequent filings regarding the finalization of the equity grant value.