Wed, Apr 30, 8:56 PM (22 days ago)
### Summary of Owlet, Inc. (OWLT) 10-K/A Filing **Company Overview:** Owlet, Inc. (OWLT) filed an amendment to its Annual Report on Form 10-K for the fiscal year ended December 31, 2024. The amendment includes updates to Part III, Items 10 through 14, which were omitted in the original filing. The company is headquartered in Lehi, Utah, and its common stock trades on the New York Stock Exchange. **Financial Performance:** The amendment does not include financial statements or updates to the financial condition. Therefore, specific revenue, net income, and operating expenses are not provided in this filing. **Executive Compensation:** - **Kurt Workman (CEO):** Received a total compensation of $987,073 in 2024, including a salary of $375,000, stock awards of $384,923, and non-equity incentive plan compensation of $225,000. - **Jonathan Harris (President):** Received a total compensation of $1,427,960 in 2024, including a salary of $375,000, stock awards of $865,460, and non-equity incentive plan compensation of $187,500. - **Amanda Crawford (CFO):** Received a total compensation of $1,005,637 in 2024, including a salary of $273,856, stock awards of $624,630, and non-equity incentive plan compensation of $105,000. **Director Compensation:** Directors receive an annual cash retainer of $50,000 for serving on the Board and an additional $32,500 for serving as the chairperson of the Audit Committee. Directors can elect to receive their fees in cash, RSUs, or a combination of both. **Security Ownership:** - **Lior Susan (Chairman):** Holds 12,224,955 shares of common stock, representing 63.55% of the outstanding shares. - **Kurt Workman (CEO):** Holds 552,515 shares of common stock, representing 5.96% of the outstanding shares. - **Entities affiliated with Eclipse:** Hold 12,224,955 shares of common stock, representing 48.88% of the outstanding shares. **Related Party Transactions:** - **Private Placement Financing:** In February 2023 and 2024, Owlet issued Series A and Series B Preferred Stock and warrants to various investors, including related persons. - **Series A Preferred Stock Conversion:** In August 2024, certain holders of Series A Preferred Stock, including related persons, converted 60% of their holdings into common stock. **Audit and Accounting:** - **Principal Accountant:** PricewaterhouseCoopers LLP (PwC) provided audit services, with fees totaling $1,428,607 in 2024. - **Pre-Approval Policies:** The Audit Committee pre-approves all audit and non-audit services provided by PwC. **Future Outlook and Risk Factors:** The amendment does not provide specific future outlook or risk factors. Investors should refer to the original Form 10-K for detailed risk assessments and strategic plans. **Market Position:** Owlet, Inc. continues to operate in the healthcare technology sector, focusing on innovative solutions for monitoring and improving health outcomes. The company's strategic initiatives and executive leadership are aimed at maintaining a competitive edge in the market. **Conclusion:** This amendment to the Form 10-K provides essential updates on executive and director compensation, security ownership, and related party transactions. Investors should review the original Form 10-K for comprehensive financial data and strategic insights.