| Item 5.02 |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Appointment of Officer
On July 31, 2024, Merel Witteveen, who had been serving as the Interim Chief Operating Officer of C3.ai, Inc. (the “Company”), was appointed as Senior Vice President, Operations, effective immediately.
Ms. Witteveen, age 39, has previously served as the Company’s Interim Chief Operating Officer, since June 2024 and Group Vice President, Alliances, since November 2022, and has worked at the Company in various roles since August 2016, including Director, Products; Senior Director, Products; Vice President, Marketing; Vice President, Products and Product Operations; and Vice President, Alliances. Prior to joining the Company, Ms. Witteveen worked at McKinsey & Company. Ms. Witteveen holds a Bachelor of Science degree from the University of Amsterdam, a Master of Science degree from Utrecht University and a Master of Business Administration degree from Stanford University.
In connection with her appointment as Senior Vice President, Operations, the Company and Ms. Witteveen have entered into an amended offer letter, pursuant to which Ms. Witteveen will receive an annual base salary of $450,000 and will have a target bonus opportunity of 50% of her base salary. In addition, Ms. Witteveen will also receive an award under the Company’s Amended and Restated 2020 Equity Incentive Plan of 40,000 restricted stock units, which will vest over a five-year period.
There are no arrangements or understandings between Ms. Witteveen and any other persons pursuant to which she was selected as Senior Vice President, Operations. There are no family relationships between Ms. Witteveen and any director or executive officer of the Company, and there are no transactions between Ms. Witteveen and the Company that would be required to be reported under Item 404(a) of Regulation S-K.
The foregoing description is qualified in its entirety by reference to Ms. Witteveen’s amended offer letter with the Company, which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ending September 30, 2024.
Section 16 Officer Transition
On August 1, 2024, Ed Abbo, President and Chief Technology Officer, became Executive Vice President and Chief Technology Officer, continuing to report to Mr. Siebel, our Chairman and Chief Executive Officer.