Company: GDOT
Filing Date: 2025-03-24
Form Type: 8-K/A
Source: 0001386278-25-000014
Chunk: 2

Company: GREEN DOT CORP
Filing Date: 2025-03-24
Form: 8-K/A
Chunk 2
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 one-year anniversary of the date of grant, provided Mr. Jacobs continues to provide services to the Company through the vesting date. The vesting and settlement of the RSUs will accelerate as follows upon the following events: on a pro rata basis if Mr. Jacobs’s interim service is terminated without cause (a “Qualifying Termination”) prior to May 31, 2025, based on the number of whole months served during this interim service period; or in full in the event of a Qualifying Termination that occurs on or after May 31, 2025.

Mr. Jacobs will not receive payments under the Company’s non-employee director compensation policy for the period he serves as both a director and interim officer.

Compensation Arrangement for Mr. Ruppel

In connection with his promotion to interim President of the Company and interim Chief Executive Officer and President of the Bank, the Committee increased his previously-approved annual base salary from $485,000 to $550,000 and target annual cash incentive opportunity as a percentage of annual base salary from 75% to 100%. Additionally, the Committee approved a transaction stay bonus for Mr. Ruppel under the Retention Program described further below.

On March 24, 2025, the Committee granted Mr. Ruppel time-based RSUs pursuant to the terms of the Company's 2010 Equity Incentive Plan and standard form of RSU award agreement. The Committee determined that 25,542 shares of the shares subject to the RSUs were compensation for his additional responsibilities as interim President of the Company and interim Chief Executive Officer and President of the Bank. The RSUs will vest and settle in full on the one-year anniversary of the date of grant, provided Mr. Ruppel continues to provide services to the Company through the vesting date. The vesting and settlement of the RSUs will accelerate as follows upon the following events: on a pro rata basis if Mr. Ruppel’s interim service is terminated without cause (a “Qualifying Termination”) prior to May 31, 2025, based on the number of whole months served during this interim service period; or in full in the event of a Qualifying Termination that occurs on or after May 31, 2025.

Retention Program

On March 18, 2025, the Committee approved arrangements designed to retain employees critical to execution of the Company’s previously-announced strategic review process (the “Retention Program”). The Company’s executive officers were awarded the