Company: CDLX
Filing Date: 2025-06-25
Form Type: 8-K
Source: 0001666071-25-000105
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Company: Cardlytics, Inc.
Filing Date: 2025-06-25
Form: 8-K
Item: Item 5.02
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ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENT OF CERTAIN OFFICERS.

On June 23, 2025, Cardlytics, Inc. (the “ Company”) and Amit Gupta, the Company’s Chief Executive Officer, entered into (i) an amended and restated offer letter (the “ A& R Offer Letter”) that amends the terms of Mr. Gupta’s equity compensation under his existing offer letter (the “ Existing Offer Letter”) and (ii) an amended and restated severance agreement (the “ A& R Severance Agreement”) that provides certain additional severance benefits, as described further below.

Amended and Restated Offer Letter

As previously announced, pursuant to the terms of the Existing Offer Letter, the Company had agreed to grant Mr. Gupta restricted stock units and performance stock units no later than May 31, 2025, with a value of $5,000,000, but no more than 1,000,000 shares in total (the “ Second Tranche Awards”). Pursuant to the A& R Offer Letter, on June 23, 2025 (the “ Grant Date”), the terms of the Second Tranche Awards were amended and Mr. Gupta was granted 1,000,000 RSUs (the “ Second Tranche 2025 RSUs”) and 200,000 PSUs (the “ Second Tranche 2025 PSUs”) pursuant to the terms of the Company’s 2025 Equity Incentive Plan (the “ Plan”). The Second Tranche 2025 RSUs will vest over a period of two years from the Grant Date, with 50% of the Second Tranche 2025 RSUs vesting on the one-year anniversary of the Grant Date and the remaining 50% vesting in equal quarterly amounts thereafter, subject to Mr. Gupta’s continuous service with the Company as of each such vesting date. The Second Tranche 2025 PSUs will vest based on the achievement of specified price per share targets over a three-year performance period commencing April 1, 2025, provided that no shares will vest prior to April 1, 2026 and subject to Mr. Gupta’s continuous service with the Company as of each such vesting date. If Mr. Gupta terminates his employment with the Company for any reason prior to August 16, 202