0001628280-22-006746.txt : 20220318
0001628280-22-006746.hdr.sgml : 20220318
20220318165907
ACCESSION NUMBER: 0001628280-22-006746
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20220314
FILED AS OF DATE: 20220318
DATE AS OF CHANGE: 20220318
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Paradise Andrew
CENTRAL INDEX KEY: 0001836621
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-39243
FILM NUMBER: 22753215
MAIL ADDRESS:
STREET 1: SKILLZ INC., C/O CHARLOTTE EDELMAN
STREET 2: P.O. BOX 445
CITY: SAN FRANCISCO
STATE: CA
ZIP: 94104-0445
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: Skillz Inc.
CENTRAL INDEX KEY: 0001801661
STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374]
IRS NUMBER: 844478274
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: P.O. BOX 445
CITY: SAN FRANCISCO
STATE: CA
ZIP: 94104-0445
BUSINESS PHONE: 415-762-0511
MAIL ADDRESS:
STREET 1: P.O. BOX 445
CITY: SAN FRANCISCO
STATE: CA
ZIP: 94104-0445
FORMER COMPANY:
FORMER CONFORMED NAME: Flying Eagle Acquisition Corp.
DATE OF NAME CHANGE: 20200130
4
1
wf-form4_164763712997831.xml
FORM 4
X0306
4
2022-03-14
0
0001801661
Skillz Inc.
SKLZ
0001836621
Paradise Andrew
C/O SKILLZ INC.
P.O. BOX 445
SAN FRANCISCO
CA
94104
1
1
1
0
Chief Executive Officer
CEO Performance Stock Unit
2022-03-14
4
J
0
16119540
0
D
Class A common stock
16119540.0
0
D
Pursuant to the letter agreement, dated March 14, 2022 between the Reporting Person and the Issuer, the CEO Performance Stock Units granted to the Reporting Person on September 14, 2021 were canceled and permanently forfeited, with no value received by the Reporting Person. The terms of the canceled award provided that one share of the Company's Class A Common Stock would have been earned for each CEO Performance Stock Unit based on the achievement of certain market capitalization milestones.
On March 14, 2022, the Board of Directors of Skillz Inc. (the "Company") and Andrew Paradise, Chief Executive Officer of the Company, agreed to cancel Mr. Paradise's award of 16,119,640 performance share units granted on September 14, 2021 (the "CEO Performance Stock Units"). The CEO Performance Stock Units were divided into four tranches, each vesting upon the achievement of a corresponding market capitalization milestone ranging from two to five times the Company's market capitalization baseline calculated at the time of grant. In canceling the CEO Performance Stock Units, the Board and Mr. Paradise took into consideration a number of factors, including (i) changes in the Company's market capitalization since the award was granted, (ii) the desire by the Board and Company to conduct an equity refresh grant for the broad-based employee population, which is facilitated by the cancellation of the CEO Performance Stock Units and (iii) the cancellation resulting in less dilution to stockholders. The Board and Mr. Paradise are continuing to discuss the terms of a potential equity grant.
/s/ Charlotte Edelman
2022-03-18