Teamshares Inc 8-K, filed Mar 2, 2026
Teamshares Inc (TMS)
About this 8-K
Teamshares Inc filed this 8-K on March 2, 2026, reporting on events of February 25, 2026.
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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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 25, 2026, the Board of Directors (the “Board”) of Live Oak Acquisition Corp. V, a Cayman Islands exempted company (the “Company”), appointed Somak Chivavibul as a Class I director of the Board of Directors of the Company (the “Board”), effective immediately. The Board has determined that Mr. Chivavibul qualifies as an independent director and appointed him to serve as a member of the audit committee and the chair of the compensation committee of the Board.
Somsak Chivavibul, age 59, has over 25 years of experience in public company financial management, capital markets, strategic planning, and risk oversight. Since 2018, Mr. Chivavibul has been serving as a Director at Gift Hero, Inc., a platform offers a unified space to create and manage wish lists. From April 2017 to February 2018, Mr. Chivavibul served as the Chief Decision Management Officer at Navient Corporation and served as its Chief Financial Officer from May 2014 to April 2017, where he oversaw all aspects of the finance functions, including accounting and financial reporting, financial planning and analysis, treasury and capital markets, tax, and investor relations. From April 1992 to April 2014, Mr. Chivavibul held progressively senior finance and treasury leadership roles at Sallie Mae, where he was involved in the company’s privatization, portfolio acquisitions, capital planning during the financial crisis, and the 2014 spin-off that created Navient. He began his career as an auditor at Ernst & Young. Mr. Chivavibul holds a bachelor’s degree in accounting from the University of Maryland and passed the Certified Public Accountant examination. We believe Mr. Chivavibul is well qualified to serve as a director due to his experience in public company finance leadership, SEC reporting, and direct engagement with boards, auditors, and rating agencies.
There are no family relationships between Mr. Chivavibul and any director, executive officer, or person nominated or chosen by the Company to become an executive officer of the Company. There are no transactions between the Company and Mr. Chivavibul that are subject to disclosure under Item 404(a) of Regulation S-K.
In connection with the appointment, the Company and Mr. Chivavibul entered into a joinder to the letter agreement, dated February 27, 2025, as amended on November 14, 2025, by and among the Company and the parties named therein as well as an indemnification agreement, which are substantially similar to the letter agreement and indemnification agreements, respectively, entered into by the current officers and directors of the Company.
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SIGNATURE
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.
| LIVE OAK ACQUISITION CORP. V | |||
| Date: March 2, 2026 | By: | /s/ Richard Hendrix | |
| Name: | Richard Hendrix | ||
| Title: | Chief Executive Officer | ||
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