Roblox Corporation
10/03/2024 | Press release | Distributed by Public on 10/03/2024 14:07
Management Change/Compensation Form 8 K
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e) CFO Compensation
As previously reported, on August 1, 2024, Michael Guthrie, the Company's Chief Financial Officer, notified Roblox Corporation (the "Company") of his intent to resign as Chief Financial Officer to pursue personal interests. The Company entered into a Separation and Transition Agreement (the "Separation Agreement") with Mr. Guthrie on September 30, 2024, pursuant to which Mr. Guthrie's employment with the Company will terminate upon the commencement of employment of the Company's next Chief Financial Officer (the date of such separation, the "Employment Separation Date"). Until the Employment Separation Date, Mr. Guthrie will continue as a full-time employee of the Company and as Chief Financial Officer, and will receive his regular annual base salary, continue to vest in outstanding equity awards, remain eligible to receive the severance and other benefits set forth in his Amended and Restated Change in Control Severance Agreement with the Company effective December 14, 2021, and participate in the Company's benefit plans and programs. Immediately following the Employment Separation Date, Mr. Guthrie will continue to provide advisory transitional services to the Company until March 1, 2025, or, if later, the one month anniversary of the Employment Separation Date. Mr. Guthrie will receive $59,583 per month, or, if greater, 1/12th of his regular annual base salary in effect as of the Employment Separation Date during this period as compensation for his advisory services, and his outstanding equity awards will continue to vest in accordance with their terms during the advisory period. The Separation Agreement contains a general release and waiver of claims in favor of the Company and confidentiality and cooperation provisions.
The foregoing description of the Separation Agreement is only a summary and is qualified in its entirety by reference to the full text of such agreement, which will be filed as an exhibit to the Company's next applicable periodic report.
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