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DocuSign | 8-K: Separation of Inhi Suh, President of Product and Technology and Amended and Restated Severance and Change in Control Agreements

SEC announcement · Jan 16 00:00

DOCU -0.26%

Summary by Moomoo AI

DocuSign, Inc. has announced the departure of Inhi Cho Suh, the company's President of Product and Technology, effective February 14, 2024. The separation, which was not due to any disagreement with the company, entitles Ms. Suh to severance benefits as per her Severance Agreement. These benefits include a cash severance of $525,000, equivalent to her annual base salary, a similar amount for her on-target bonus for fiscal 2025, up to 12 months of COBRA coverage, and an acceleration of 12 months' vesting of her time-based equity awards. Additionally, Ms. Suh may still vest in a portion of her performance-based restricted stock units if performance goals are met. The company also amended and restated its Executive Severance and Change in Control Agreements for other key executives, enhancing severance benefits during a specified period to strengthen retention incentives.

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