UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On January 8, 2025, the Compensation Committee (the “Committee”) of the Board of Directors (the “Board”) of Innventure, Inc. (the “Company”) approved the 2025 base salary rates for the Company’s Chief Financial Officer (“CFO”) and named executive officers (the “NEOs”), as listed in the table below. The Committee also recommended that the Board approve the 2025 base salary rate for the Company’s Chief Executive Officer (“CEO”), as listed in the table below. On January 9, 2025, based on the recommendation from the Committee, the independent members of the Board approved the 2025 annual base salary rate for the Company’s CEO.
Name | Title | 2025 Base Salary | ||||||
Gregory W. Haskell | Chief Executive Officer | $700,000 | ||||||
Michael Otworth | Executive Chairman | $450,000 | ||||||
Roland Austrup | Chief Growth Officer | $450,000 | ||||||
Dr. John Scott | Chief Strategy Officer | $450,000 | ||||||
David Yablunosky | Chief Financial Officer | $450,000 | ||||||
In addition to base salary rates, the Company expects to use annual incentive bonuses for the Company’s executive officers, including for the NEOs, to motivate their achievement of short-term performance goals and tie a portion of their compensation to the Company’s performance. The Committee selects the performance targets, target amounts, target award opportunities, and other terms and conditions of annual bonuses for these officers. Following the end of each year, the Committee will determine the extent to which the performance targets were achieved and the amount of the award that is payable to the NEOs.
On January 8, 2025, the Committee approved target 2025 annual short-term incentive (“STI”) award opportunities for the Company’s CFO and NEOs, with a target amount equal to 100% of each NEO’s and the CFO’s 2025 base salary. The Committee also recommended that the Board approve a target 2025 STI annual opportunity for Company’s CEO in an amount equal to 100% of his 2025 base salary. On January 9, 2025, based on the recommendation from the Committee, the independent members of the Board approved such target 2025 STI award opportunity for the Company’s CEO. The Committee intends to approve the terms and conditions of the 2025 STI plan (including the relevant performance measures and goals and the potential payouts as a percentage of target) at a subsequent meeting.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| INNVENTURE, INC. | |||||||||||
Date: January 14, 2025 | By: | /s/ David Yablunosky | |||||||||
Name: | David Yablunosky | ||||||||||
Title: | Chief Financial Officer | ||||||||||