MarketWise, Inc. (NASDAQ:MKTW), a company specializing in prepackaged software services, announced the departure of its Chief Operating Officer, Chad Curlett, on Monday. The news comes as part of a recent 8-K filing with the Securities and Exchange Commission.
Curlett's resignation was effective on August 19, 2024, and the company has since reached a separation agreement with him. Under the terms of the agreement dated today, Curlett will receive a lump-sum payment of $100,000. This severance is contingent upon his agreement to a release of claims against the company and compliance with the terms of their separation contract.
Additionally, the agreement imposes a twelve-month non-solicitation clause, along with perpetual non-disparagement and confidentiality obligations on Curlett. The specific details of the agreement have been included as an exhibit in the 8-K filing.
MarketWise, headquartered in Baltimore, Maryland, has not yet announced a successor for the COO role. The company's stock is traded on The Nasdaq Stock Market LLC and has been publicly listed under the ticker symbol MKTW.
In other recent news, MarketWise, Inc. reported its financial outcomes for Q2 2024. The company's financial performance was disclosed in a letter to shareholders, a standard practice to inform investors about its financial health and operational results.
MarketWise also announced a quarterly cash dividend of $0.01 per share for holders of its Class A common stock, with a comparable distribution approved for holders of MarketWise, LLC units.
Significant changes occurred in the company's leadership structure after the resignation of F. Porter Stansberry as Chairman and CEO. Dr. David Eifrig was appointed as the interim CEO, and Matthew Turner was named the Acting Chairman of the Board. The company also terminated negotiations for the acquisition of Porter & Company, LLC, a deal previously announced and valued at $40 million.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.