Greenidge Generation Holdings Inc.
04/29/2024 | Press release | Distributed by Public on 04/29/2024 14:01
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.
|
On April 26, 2024, Greenidge Generation Holdings Inc. (the "Company")and Scott MacKenzie, the Company's Chief Strategy Officer, entered into a Release Agreement (the "Release Agreement"). The Release Agreement provides for Mr. MacKenzie's termination as the Company's Chief Strategy Officer, effective April 26, 2024, which was not a result of any disagreement with the Company on any matter related to the operations, policies, or practices of the Company. The responsibilities associated with the position of Chief Strategy Officer are being absorbed by other members of the Company's management team. The Release Agreement contains a customary general release of claims by Mr. MacKenzie against the Company and provides for the acceleration of vesting of Mr. MacKenzie's remaining unvested options to purchase 81,602 shares of the Company's Class A common stock.
The foregoing description of the Release Agreement is not complete and is qualified in its entirety by the full text of the Release Agreement, a copy of which is attached hereto as Exhibit 10.1 and incorporated by reference in this Item 5.02.