Payoneer Global Inc 8-K, filed Nov 30, 2023
Payoneer Global Inc. (PAYO)
About this 8-K
Payoneer Global Inc filed this 8-K on November 30, 2023, reporting on events of November 29, 2023.
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
Date of Report (Date of earliest event reported):
November 30, 2023 (
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| Item 5.02 | Departure of Directors or Principal Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
(b) On November 30, 2023, Payoneer Global Inc. (the “Company”) announced that Assaf Ronen is expected to depart as Chief Platform Officer of the Company on December 1, 2023. Mr. Ronen will remain employed in an advisory role to assist with the transition of his duties through June 20, 2024.
In connection with Mr. Ronen’s departure from the Company, the Company’s subsidiary, Payoneer Inc., and Mr. Ronen entered into a Separation Agreement, dated November 29, 2023 (the “Separation Agreement”). The Separation Agreement provides that Mr. Ronen will cease to serve as Chief Platform Officer on December 1, 2023 (the “Cessation Date”) and will continue to be employed in a non-executive advisory role to assist with the transition of his duties until June 20, 2024 (the “Separation Date”). Mr. Ronen’s salary through the Separation Date will be at a rate equal to his annual base salary in effect as of the Cessation Date, payable in accordance with the Company’s regular payroll schedule, and he will be eligible for a year-end bonus with respect to 2023 performance consistent with his current terms, and for participation in the Company’s benefit plans through the Separation Date. The Separation Agreement further provides that in exchange for Mr. Ronen’s continued employment, his continued compliance with the restrictive covenants and a release of claims, the Company will provide Mr. Ronen: (i) continued vesting of his restricted stock units through the Separation Date, and (ii) payment of the value of any accrued but unused vacation days up until and including the Cessation Date, to be paid on the Cessation Date. The Separation Agreement also provides that Mr. Ronen agrees to be subject to non-compete and non-solicitation obligations through December 31, 2024.
SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| PAYONEER GLOBAL INC. | |||
| November 30, 2023 | By: | /s/ Bea Ordonez | |
| Name: | Bea Ordonez | ||
| Title: | Chief Financial Officer | ||