Vivid Seats Inc
For the period ended Mar 31, 2024. Filed May 7, 2024.
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Mar 31, 2024 · Filed May 7, 2024
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Item 5. Other Information
On May 2, 2024, our Board approved, at the recommendation of its Compensation Committee, amendments to the employment agreements of certain of our executive officers, including Stanley Chia, our Chief Executive Officer, and Lawrence Fey, our Chief Financial Officer, to provide for the following enhanced benefits upon a termination without Cause or for Good Reason (each, as defined in the employment agreements) within one year prior to or following a Change in Control (as defined in the 2021 Plan): a lump-sum cash severance amount equal to a multiple of the executive’s annual base salary and target bonus (1.5x for our Chief Executive Officer and 1.0x for our Chief Financial Officer), and the full acceleration of the executive’s outstanding equity awards, in each case subject to the execution and non-revocation of a release of claims.
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