Company: INV
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001628280-25-017614
Chunk: 80

Company: Innventure, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 11
Chunk 80
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 in this column represents matching contributions provided by Innventure under the 401(k) Plan (as defined and described below).(6) Mr. Otworth provided services to Innventure in a consulting capacity during 2024 through a contract between Innventure LLC and Sugar Grove Ventures, LLC.(7) Dr. Scott provided services to Innventure in a consulting capacity during 2024 through a contract between Innventure LLC and Corporate Development Group LLC, pursuant to which Dr. Scott, the founder and principal of Corporate Development Group LLC, provided strategic guidance and consulting services to Innventure.

Narrative Disclosure to 2024 Summary Compensation Table

Key 2024 Named Executive Officer Compensation Components and Decisions

2024 Base Salary

Pursuant to the terms of their employment or consulting arrangements, as applicable, the NEOs were entitled to base salaries or service fees, as applicable, at the following annual rates during 2024:

NEO2024 Base Salary/Service Fee RateGregory Haskell$300,000Mike Otworth$300,000Dr. John Scott$300,000

We did not modify the base salary or service fee rates of any of the NEOs during 2024. However, we increased the base salary and service fee rates of the NEOs in January 2025.

2024 Bonus Compensation

Each of Messrs. Haskell and Otworth and Dr. Scott is eligible for a target 2024 annual bonus opportunity equal to $300,000 based on Innventure’s performance against certain goals established by the board of directors of Innventure, LLC. The 2024 bonus goals and applicable weighting percentages are set forth in the table below.

2024 Bonus GoalWeightingGoal Achieved?(yes or no)

122

Formation of a new (4th) operating company25%YesComplete the Business Combination with more than $20 million of net proceeds50%YesMeeting each of the following milestones (or a achieving a certain threshold share price):•Formation of a new (4th) operating company10%Yes•$10 million of booked revenue for Accelsius10%No•$15 million of GAAP revenue for AeroFlexx5%No

The 2024 bonuses were also subject to a stretch goal (formation of a new (5th) operating company), which would have resulted in an additional 50% payout. 

In 2025, the Compensation Committee (and the Board with respect to Mr. Haskell) determined that 85% of the 2024 bonus goals were achieved