Skillz (NYSE: SKLZ) extends CFO tenure with up to $600,000 in incentives

Rhea-AI Filing Summary

Skillz Inc. has extended the transition period for its Chief Financial Officer. The company and CFO Gaetano Franceschi amended their existing side letter so that his employment will now end on the earlier of October 1, 2026 or a mutually agreed date following the appointment of a permanent successor.

Franceschi will continue serving as CFO during this transition and will receive compensation consistent with the prior side letter. He will also be eligible for an additional $300,000 if he remains with the company through October 1, 2026, plus a discretionary bonus of up to $300,000 tied to his performance, the company’s performance, and the success of the CFO transition. The underlying transition and separation agreement otherwise remains unchanged, and Skillz continues its search for a permanent CFO.

Insights

Corporate governance analyst

Skillz extends CFO transition for continuity with added incentives.

Skillz Inc. is keeping CFO Gaetano Franceschi in place longer while it searches for a permanent successor. The amended arrangement extends his potential departure to the earlier of October 1, 2026 or a mutually agreed post-transition date.

The company is offering an extra $300,000 for continued service through October 1, 2026, plus a discretionary bonus of up to $300,000 based on performance and transition success. This structure encourages an orderly handover without altering the original separation terms.

For investors, the key factor is leadership stability in the finance function during the ongoing search. Subsequent disclosures naming the permanent Chief Financial Officer will provide more clarity on the long-term financial leadership profile.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): March 19, 2026

SKILLZ INC.

(Exact name of registrant as specified in its charter)

Delaware

001-39243

84-4478274

(State or other jurisdiction of incorporation)

(Commission File Number)

(IRS Employer Identification No.)

6625 Badura Avenue

Las Vegas, Nevada 89118

(Address of principal executive offices, including zip code)

Registrant’s telephone number, including area code: (415) 762-0511

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Class A common stock, par value $0.0001 per share

SKLZ

NYSE

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02.    Departure of Directors or Principal Officers; Election of Directors; Appointment of Officers.

As previously disclosed on a Current Report on Form 8-K filed with the Securities and Exchange Commission (the “SEC”) on December 30, 2025, Skillz Inc. (the “Company”) and Gaetano Franceschi, the Company’s Chief Financial Officer, entered into a side letter (the “Side Letter”) with respect to that certain Transition and Separation Agreement, dated December 17, 2025 (the “Transition and Separation Agreement”), described in a Current Report on Form 8-K filed with the SEC on December 18, 2025, pursuant to which Mr. Franceschi’s last day of employment with the Company (the “Departure Date”), was extended until March 31, 2026 with Mr. Franceschi continuing in the position of Chief Financial Officer until the earlier of (i) the Departure Date and (ii) the date a permanent successor Chief Financial Officer is appointed by the Company (the “Transition Date”).

On March 19, 2026, Mr. Franceschi and the Company entered into an amendment to the Side Letter, (the “Side Letter Amendment”), approved by the Board and the Compensation Committee of the Board on March 19, 2026, pursuant to which the Departure Date has been extended through the earlier of (i) October 1, 2026 or (ii) a mutually agreed date following the Transition Date, at which time Mr. Franceschi will separate from employment with the Company. Mr. Franceschi will continue to receive compensation consistent with the terms of the Side Letter, and will additionally be eligible to receive (i) $300,000, subject to Mr. Franceschi’s continued service with the Company through October 1, 2026 and (ii) a discretionary bonus of up to $300,000 reflecting Mr. Franceschi’s performance, the Company’s performance and the success of the transition to a permanent successor Chief Financial Officer. The terms and conditions of the Transition and Separation Agreement and Side Letter otherwise remain unchanged.

The Company is continuing to conduct a search to identify a permanent successor for the Chief Financial Officer position and will announce a successor at the conclusion of the on-going search process.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			SKILLZ INC.
			By:			/s/ Todd A. Valli
			Name:			Todd A. Valli
			Title:			Chief Accounting Officer
Date: March 23, 2026

FAQ

What did Skillz Inc. (SKLZ) announce about its CFO transition?

Skillz Inc. extended CFO Gaetano Franceschi’s transition period, keeping him in role until the earlier of October 1, 2026 or a mutually agreed date following appointment of a permanent successor. The core transition and separation terms otherwise remain unchanged under the existing agreements.

When will Skillz CFO Gaetano Franceschi leave the company?

Gaetano Franceschi is now scheduled to leave Skillz on the earlier of October 1, 2026 or a mutually agreed date after a permanent Chief Financial Officer is appointed. At that time, he will separate from employment under the existing transition and separation framework.

What additional compensation can the Skillz CFO receive under the amended side letter?

Under the amended side letter, the Skillz CFO may receive an additional $300,000 if he continues service through October 1, 2026. He is also eligible for a discretionary bonus of up to $300,000 based on his performance, company performance, and the success of the CFO transition.

Do the original Skillz CFO transition and separation terms change with this amendment?

The amendment primarily extends the potential departure date and adds incentive opportunities. The underlying Transition and Separation Agreement and the existing Side Letter remain otherwise unchanged, preserving the previously agreed structure for Gaetano Franceschi’s separation from Skillz Inc.

Is Skillz Inc. still searching for a new Chief Financial Officer?

Yes, Skillz Inc. continues to conduct a search for a permanent Chief Financial Officer. The company plans to announce a successor when the ongoing search concludes, while the current CFO remains in place to provide continuity during the transition period.

What performance factors affect the discretionary bonus for the Skillz CFO?

The discretionary bonus of up to $300,000 depends on Gaetano Franceschi’s individual performance, Skillz Inc.’s overall performance, and the success of the transition to a permanent Chief Financial Officer. These criteria link additional compensation directly to effective leadership and a smooth handover.

Filing Exhibits & Attachments

3 documents

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 1.7 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT 21.1 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT 12.2 KB