Blog: MARKETWISE, INC. : Change in Directors or Principal Officers, Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K) – Marketscreener.com

Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Mark Arnold Resigns as Chief Executive Officer and Director


On November 22, 2022, MarketWise, Inc. (the "Company") accepted Mark Arnold's
resignation from his positions as Chairman of the Board of Directors (the
"Board") and Chief Executive Officer of the Company, and as a director of the
Company, effective immediately. These actions were not related to any matter
regarding the Company's financial condition, results of operations, internal
controls, disclosure controls and procedures, policies or practices. In
connection with Mr. Arnold's resignation, the Company and Mr. Arnold entered
into a letter agreement (the "Separation Agreement") pursuant to which Mr.
Arnold is entitled to receive $8,510,225, less applicable withholdings, subject
to his compliance with the terms of the Separation Agreement and his execution
and non-revocation of a general release substantially in the form attached to
the Separation Agreement. This description of the Separation Agreement is
qualified in its entirety by the text of the Separation Agreement, which is
filed as Exhibit 10.1 to this Current Report on Form 8-K.

Appointment of Stephen Sjuggerud as Interim Chief Executive Officer


On November 22, 2022, the Board appointed Dr. Stephen Sjuggerud, currently a
director of the Company, to serve as interim Chief Executive Officer, effective
immediately. In connection with Dr. Sjuggerud's appointment, the Company and Dr.
Sjuggerud are currently negotiating the terms of his compensation as interim
Chief Executive Officer.

Dr. Sjuggerud joined the Company in 2001 and is the editor of our True Wealth
franchise of publications. He has served as a member of our Board of Directors
since July 2021. Dr. Sjuggerud has published investment research continuously
since 1996, and prior to that, was a stockbroker, a vice president of a global
mutual fund, and worked for a New York hedge-fund with $900 million in assets
under management. Dr. Sjuggerud earned a bachelor's degree in Finance from the
University of Florida and earned his MBA and PhD in finance.


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Item 7.01. Regulation FD Disclosure.


On November 23, 2022, the Company issued a press release announcing the events
described in Item 5.02 of this Current Report on Form 8-K. A copy of the press
release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information in Item 7.01 to this Current Report on Form 8-K, including
Exhibit 99.1, is being furnished and shall not be deemed "filed" for purposes of
Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange
Act"), or otherwise subject to the liabilities of that section, nor shall it be
deemed incorporated by reference in any filing under the Securities Act of 1933,
as amended or the Exchange Act, except as expressly set forth by specific
reference in such filing.


Item 9.01. Financial Statements and Exhibits.

(d)Exhibits.

Exhibit No.              Description

10.1                       Separation Agreement, dated November 22, 2022,

by and between MarketWise,

                         Inc. and Mark Arnold.

99.1                       MarketWise, Inc. press release, dated November 2    3    , 2022

104                      Cover Page Interactive Data File (embedded within

the Inline XBRL document).

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