Business Context and Reporting Period
This Form 8-K Current Report was filed by Amplitude, Inc. on August 5, 2024. The filing primarily addresses the appointment of a new Chief Financial Officer and the associated compensatory arrangements.
Key Financial Metrics
This filing does not contain revenue, profit, cash flow, margin, debt, or liquidity metrics. It focuses exclusively on executive compensation details:
- Annual Base Salary: $500,000
- Annual Performance Bonus Target: 50% of base salary ($250,000), pro-rated for 2024
- Sign-on Bonus: $125,000 (one-time)
- Equity Award: $9,500,000 in Restricted Stock Units (RSUs), vesting over 3 years in 12 quarterly installments
Material Changes
The material change reported is the appointment of Andrew Casey as Chief Financial Officer, effective August 1, 2024. Mr. Casey previously served as CFO of Lacework, Inc. and WalkMe Ltd., and held senior finance roles at ServiceNow, Hewlett-Packard, NortonLifeLock, Oracle, and Sun Microsystems.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary regarding business performance. It details severance provisions for Mr. Casey:
- Standard Termination (Without Cause/Good Reason): 6 months base salary, prorated bonus, and 6 months healthcare.
- Change in Control Termination: 12 months base salary, 100% target bonus, 12 months healthcare, and full acceleration of unvested equity awards.
Investor Verification Checklist
- Verify the vesting schedule and grant date for the $9.5 million RSU award.
- Review the definitions of "Cause" and "Good Reason" in the Employment Agreement (Exhibit 10.7) to understand severance triggers.
- Confirm the pro-rated bonus calculation for the partial year of 2024.
- Check for any prior disclosures regarding the departure of the previous CFO.