Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 6, 2023, Catherine Wong resigned from her position as Chief Operating
Officer and Executive Vice President of Engineering of Domo, Inc. (the
"Company"), effective as of January 15, 2023. There were no disagreements
between Ms. Wong and the Company on any matter relating to the Company's
operations, policies or practices which resulted in her resignation. In
connection with Ms. Wong's resignation, Ms. Wong and the Company entered into a
Separation and Transition Agreement. Among other things, the Separation and
Transition Agreement provides that:
•Between January 15, 2023 and March 31, 2023, Ms. Wong will provide advisory
transitional services as mutually agreed upon by Ms. Wong and the Company's
Chief Executive Officer or the Board.
•Ms. Wong's existing equity incentive awards will continue to vest so long as
Ms. Wong remains a "service provider" for purposes of the Company's equity
incentive plans.
•Ms. Wong makes certain releases in favor of the Company upon execution of the
Separation and Transition Agreement.
•Upon the conclusion of Ms. Wong's advisory transitional services, she will make
certain waivers and releases of claims in favor of the Company (the "Second
Release"), in consideration for the Company allowing Ms. Wong to retain $211,250
in bonus pre-paid by the Company for fiscal year 2023, regardless of the amount
of actual bonuses to be paid to Company executives, and the Company will not
exercise any clawback rights it might have, with the exception of any clawback
required by applicable law.
Additionally, on January 9, 2023, the Company appointed Daren Thayne as the
Company's Executive Vice President of Engineering, effective January 15, 2023.
Mr. Thayne will also continue to serve as the Company's Chief Technology
Officer.
Mr. Thayne, age 57, has served as the Company's Chief Technology Officer since
2010. Prior to joining the Company, Mr. Thayne served as Chief Information
Officer at Interbank FX from 2007 to 2010 and Chief Technology Officer and SVP
of Development at Ancestry.com. Mr. Thayne holds an M.B.A. and a B.S. in
mechanical engineering from Brigham Young University.
Mr. Thayne is continuing under the terms of his existing compensation
arrangements with the Company. Mr. Thayne will continue to be bound by his
existing confidentiality and invention assignment agreement, and will enter into
a standard indemnification agreement in the form previously approved by the
Board.
There are no family relationships between Mr. Thayne and any director or
executive officer of the Company that require disclosure under Item 401(d) of
Regulation S-K. Other than with respect to his employment with the Company,
there are no transactions between Mr. Thayne or any member of his immediate
family, on the one hand, and the Company or any of its subsidiaries, on the
other hand, that require disclosure under Item 404(a) of Regulation S-K.
Furthermore, there are no arrangements or understandings between Mr. Thayne and
any other persons pursuant to which Mr. Thayne was selected as an executive
officer of the Company.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit
No. Description
Separation and Transition Agreement, dated January 9, 2023, by and
10.1 between Domo, Inc. and Catherine Wong
Cover Page Interactive Data File (embedded within the Inline XBRL
104 document)
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