Company: GDOT
Filing Date: 2025-06-20
Form Type: 8-K
Source: 0001386278-25-000051
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Company: GREEN DOT CORP
Filing Date: 2025-06-20
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 Arrangements of Certain Officers.

On June 19, 2025, the Compensation Committee (the “ Committee”) of the Board of Directors of Green Dot Corporation (the “ Company”) approved Mr. Jacobs’ compensation for his continued service as the Company’s interim Chief Executive Officer (the “ Interim CEO”) through January 7, 2026.

Under his compensation package, Mr. Jacobs will continue to receive a monthly salary of $50,000 in cash and a monthly service award of up to $60,000 in cash, consistent with his compensation for the initial period of his service as Interim CEO. Additionally, Mr. Jacobs was granted 131,717 time-based restricted stock units (“ RSUs”) pursuant to the terms of the Company's 2010 Equity Incentive Plan and standard form of RSU award agreement. The RSUs will vest and settle on June 19, 2026, subject to the Company’s standard vesting terms. Additionally, vesting and settlement of the RSUs will accelerate on a pro-rata basis, based on the number of whole months served during the period from June 6, 2025 to January 7, 2026, if his interim service is terminated without cause (a “ Qualifying Termination”) prior to January 7, 2026 or in full if the Qualifying Termination occurs on or after January 7, 2026. The vesting and settlement of the RSUs will also accelerate in full upon the consummation of a Corporate Transaction (as defined in the Company’s Amended and Restated 2010 Equity Incentive Plan).

Mr. Jacobs is also eligible to earn a one-time bonus (the “ One-Time Discretionary Bonus”) of up to an additional $1,750,000, payable in cash or Class A common stock of the Company (at Mr. Jacobs’ election) within 10 days of January 7, 2026, based on Mr. Jacobs’ and Company performance during the period from June 6, 2025 to January 7, 2026, as determined by the Committee in its sole discretion on or about January 7, 2026, provided Mr. Jacobs continues to provide services as an employee, officer, director, consultant, independent contractor or advisor to the Company through such date. The Committee will take into account the following factors,