Nextnav Inc 8-K, filed Jul 3, 2025
Nextnav Inc. (NN)
About this 8-K
Nextnav Inc filed this 8-K on July 3, 2025, reporting on events of June 27, 2025.
Items reported
- Item 5.02: Director or officer change, or executive pay
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Compensation Decisions Regarding Mariam Sorond for Her Services as President and Chief Executive Officer
On June 27, 2025, the Compensation and Human Capital Committee of the Board of Directors (the “Compensation Committee”) of NextNav Inc. (the “Company”) approved adjustments to the compensation of Mariam Sorond for her services as President and Chief Executive Officer. Ms. Sorond’s annual base salary was increased to $800,000, and her annual target bonus was set at 100% of her base salary.
In addition, on the same date, the Compensation Committee approved a grant of 295,850 stock options to Ms. Sorond. The options are subject to time-based vesting and have an exercise price of $15.07. The options are also subject to Ms. Sorond’s continued service through each applicable vesting date. One-fourth (1/4) of the options will vest on June 27, 2026, with the remaining three-fourths (3/4) vesting in substantially equal quarterly installments over the following three years.
The Compensation Committee’s decisions were based on recent compensation benchmarking for chief executive officers for peer group companies and a determination that the adjustments were appropriate.
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.
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NEXTNAV INC. |
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Date: |
July 3, 2025 |
By: |
/s/ James Black |
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Name: James
Black |