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Posted 26 August, 2022

Desktop Metal, Inc. appointed new CEO

CEO Change detected for ticker NYSE:DM in a 8-K filed on 26 August, 2022.


  As previously disclosed, Michael Jafar, who was a named executive officer in the proxy statement of Desktop Metal, Inc. (the "Company") for its annual meeting in 2022, ceased to serve as the President and Chief Executive Officer of Desktop Health, effective as of June 30, 2022 (the "Separation Date").  

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Overview of Desktop Metal, Inc.
N/A • N/A

Market Cap
$179M
View Company Details
Desktop Metal, Inc. by TradingView
Relevant filing section
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

As previously disclosed, Michael Jafar, who was a named executive officer in the proxy statement of Desktop Metal, Inc. (the "Company") for its annual meeting in 2022, ceased to serve as the President and Chief Executive Officer of Desktop Health, effective as of June 30, 2022 (the "Separation Date"). On August 22, 2022, the Company entered into a separation agreement (the "Separation Agreement") with Mr. Jafar setting forth the terms of his separation. Pursuant to the Separation Agreement, in exchange for a general release of claims in favor of the Company and its affiliates, (i) Mr. Jafar will receive cash payments equal to $243,923 and (ii) the Company will pay the applicable COBRA premiums for a period of twelve (12) months following the last day of the month in which the Separation Date falls. In connection with the Separation Agreement, the Company agreed to waive Mr. Jafar's non-competition obligations to the Company.