Form 8-K - Current report
01 November 2023 - 5:46AM
Edgar (US Regulatory)
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION |
| Washington, D.C. 20549
__________________ | |
FORM 8-K
__________________
CURRENT REPORT
Pursuant to Section 13 or Section 15(d)
of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): October 27, 2023
__________________ |
Abacus Life, Inc.
(Exact name of registrant as specified in its charter) |
Delaware (State or other jurisdiction of incorporation or organization) | 001-39403 (Commission
File Number) | 85-1210472
(I.R.S. Employer
Identification Number) |
2101 Park Center Drive, Suite 170 Orlando, Florida 32835 (800) 561-4148
(Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices) __________________
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(Former name or former address, if changed since last report) __________________ |
| Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation to 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) |
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Securities registered pursuant to Section 12(b) of the Act: |
| Title of each class | Trading Symbols | Name of each exchange on which registered |
| Common stock, par value $0.0001 per share | ABL | The NASDAQ Stock Market LLC |
| Warrants, each whole warrant exercisable for one share of common stock at an exercise price of $11.50 per share | ABLLW | The NASDAQ Stock Market LLC |
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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 or Rule 12b-2 of the Securities Exchange Act of 1934. |
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. ☒ |
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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 October 27, 2023, the Compensation Committee of the Board of Directors (the “Committee”) of Abacus Life, Inc. (the “Company”) approved the grant of 500,000 restricted stock units (the “RSUs”) to the Company’s chief financial officer, William H. McCauley, Jr. under the Company’s 2023 Long-Term Equity Compensation Incentive Plan (the “Plan”).
Ten percent (10%) of the RSUs will vest and be converted to the Company’s common stock (or, at the Company's option, the cash equivalent) on July 3, 2024, and the remaining ninety percent (90%) of the RSUs will do so on July 3, 2026. Mr. McCauley must remain employed through the end of the applicable vesting period to receive any award under the Plan, except that he may be entitled to a prorated portion of the award in the event of involuntary termination without cause, death, disability or retirement. In addition, in the event of such a termination in connection with a change in control, all unvested awards generally vest immediately. A change in control is defined in the Plan generally as an event that would be considered as a change in control in the Treasury Regulations published under Section 409A of the Code.
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.
Abacus Life, Inc.
Date: October 31, 2023 By: /s/ Jay Jackson
Name: Jay Jackson
Title: Chief Executive Officer
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