Company: KITTW
Filing Date: 2025-04-02
Form Type: 8-K
Source: 0001849820-25-000086
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Company: Nauticus Robotics, Inc.
Filing Date: 2025-04-02
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 March 27, 2025, the compensation committee of the board of directors of Nauticus Robotics, Inc. (the “ Company”) modified the cash compensation payable to John W. Gibson, Jr., the Company’s Chief Executive Officer and President and a member of the Company’s board of directors. Mr. Gibson's base salary will be increased from $250,000 to $350,000 per year, effective March 29, 2025. Mr. Gibson was also awarded a bonus for fiscal 2024 performance in the amount of $125,000 and a one-time special retention bonus of $375,000, each payable on or before April 15, 2025.

The other terms of the employment agreement dated February 21, 2024 between the Company and Mr. Gibson (the “ Employment Agreement”) remain unchanged. A description of the principal terms of the Employment Agreement is included in the Company’s Current Report on Form 8-K (the “ Form 8-K”) filed with the Securities and Exchange Commission on February 22, 2024. The Employment Agreement was filed as an exhibit to the Form 8-K.

The foregoing is qualified in its entirety by reference to the Award Letter, which is attached hereto as Exhibit 10.1 and is incorporated by reference herein.