Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Termination of Vito Legrottaglie as Chief Information Officer
On June 12, 2025, Climb Global Solutions, Inc. (the "Company") and Vito Legrottaglie, the Company's Chief Information Officer and Vice President, entered into a separation agreement (the "Separation Agreement"), under which Mr. Legrotagglie's employment concluded effective as of June 13, 2025. In consideration for Mr. Legrottaglie's release and waiver of claims against the Company, the Company has agreed to the following payments and benefits in lieu of any other benefits and payments that may be due to Mr. Legrottaglie under the Climb Global Solutions, Inc. Executive Severance and Change in Control Plan: (i) cash compensation for his services as a consultant in the total amount of $51,666.68, payable in two equal installments on July 15, 2025, and August 15, 2025, subject to his retention as a consultant through each payment date; provided, however, should Mr. Legrottaglie's consulting relationship with the Company terminate prior to August 15, 2025, such payments shall be prorated to reflect the number of days Mr. Legrottaglie performed consulting services and will be paid out on August 15, 2025; and (ii) the accelerated vesting of 1,807 time-vested shares and restricted stock units and 2,755 performance-vested restricted stock units.
The foregoing description is a summary of the Separation Agreement only and does not purport to be complete and is subject to, and is qualified in its entirety by reference to the full text of the Separation Agreement, which is filed as Exhibit 10.1 to this current report on Form 8-K and incorporated herein by reference.