Business Context and Reporting Period
This Form 8-K Current Report was filed by ShotSpotter, Inc. on November 15, 2017. The filing discloses a corporate governance change involving the appointment of a new director to the Board of Directors.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel and governance matters.
Material Changes
The Board of Directors increased the authorized number of board members from six to seven. William J. Bratton was appointed as a Class I director effective November 15, 2017. Mr. Bratton previously served on the Board from April 2013 to December 2013.
Management Commentary and Compensation
Mr. Bratton's appointment was recommended by the Nominating and Corporate Governance Committee. His compensation package includes:
- An annual retainer of $31,250.
- A grant of 3,074 restricted stock units (RSUs) vesting on the earlier of June 6, 2018, or the Company's first annual meeting of stockholders.
- Continued vesting of a pre-existing option to purchase 5,000 shares at an exercise price of $3.06 per share, based on his Board service.
Mr. Bratton ceased providing advisory services to the Company on the Effective Date. No other material risks or contingencies were disclosed in this filing.
Investor Verification Checklist
- Verify the total number of authorized board seats is now seven.
- Confirm the vesting schedule for the 3,074 RSUs granted to Mr. Bratton.
- Review the terms of the existing 5,000 share stock option held by Mr. Bratton.
- Check future filings to determine which board committees Mr. Bratton will join.