Company: GROVW
Filing Date: 2025-02-18
Form Type: 8-K
Source: 0001628280-25-006045
Chunk: 0

Company: Grove Collaborative Holdings, Inc.
Filing Date: 2025-02-18
Form: 8-K
Item: Item 5.02
Chunk 0
---
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Executive Transition

The Company previously announced the appointment of Tom Siragusa as interim chief financial officer, interim principal financial officer and interim principal accounting officer effective February 16, 2025. The Company also previously announced that the Company and Sergio Cervantes, the Chief Financial Officer of the Company agreed that Mr. Cervantes’ employment would be terminated, effective February 16, 2025 (the “ Separation Date”). In connection with Mr. Cervantes’ separation, the Company and Mr. Cervantes entered into a separation and general release agreement on February 14, 2025 (the “ Separation Agreement”), which provides that, subject to Mr. Cervantes remaining employed through the Separation Date and his execution of a release of claims in favor of the Company, Mr. Cervantes will be entitled to: (i) a lump sum cash payment equal to 25 weeks of Mr. Cervantes’ base salary; (ii) a cash bonus under the Company’s 2024 Annual Incentive Plan, based on actual performance of the Company; (iii) continued COBRA coverage for up to three months; and (iv) accelerated vesting of the portion of Mr. Cervantes’ outstanding restricted stock unit awards that would have vested on or before May 15, 2025 if Mr. Cervantes had remained employed with the Company through such date.

Item 9.01 Financial Statements and Exhibits