MARA Holdings, Inc 8-K, filed Oct 17, 2022
MARA Holdings, Inc. (MARA)
About this 8-K
MARA Holdings, Inc filed this 8-K on October 17, 2022, reporting on events of October 12, 2022.
Items reported
- Item 8.01: Other events
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Item 8.01 Other Events.
In connection with a dispute concerning the settlement of certain restricted stock unit awards previously granted to Merrick D. Okamoto,
former Chief Executive Officer and Chairman of Marathon Digital Holdings, Inc. (the “Company”), on October 12, 2022, the
Company entered into a settlement agreement with Mr. Okamoto, pursuant to which the Company agreed to pay Mr. Okamoto $24 million. Mr.
Okamoto agreed to a settlement and a broad release of known or unknown claims against the Company, which relate to the Company’s
Amended 2018 Equity Incentive Plan or related restricted stock unit award agreements. The Company entered into related settlement agreements
in respect to certain restricted stock unit awards previously granted to five other individuals, including a director and our current
Chief Executive Officer and Chairman, which total approximately $1 million in the aggregate.
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.
Date: October 17, 2022
| MARATHON DIGITAL HOLDINGS, INC. | ||
| By: | /s/ Hugh Gallagher | |
| Name: | Hugh Gallagher | |
| Title: | CFO | |