• Fri. Apr 19th, 2024

New Sarcos CFO Trevor Thatcher: Bridging the Gap Between Innovation and Accountability

BySamantha Johnson

Mar 6, 2024
Investing.com reports that Trevor Thatcher is appointed as the new CFO of Sarcos Technology

Trevor Thatcher, 38, has been appointed as the new Chief Financial Officer (CFO) of Sarcos Technology, a robotics company listed on the NASDAQ under the symbol STRC. His appointment comes after Andrew Hamer, who had been serving as CFO since December 2014, decided that it was time for a change in financial leadership. Hamer’s tenure with Sarcos will end on Friday following his departure from the CFO role earlier this week.

Thatcher brings extensive experience to his new role having served as Vice President, Corporate Controller of Sarcos since December 2021. Prior to that, he held various senior financial roles at LifeVantage Corporation from October 2014 to December 2021. Thatcher is also a licensed certified public accountant and holds academic degrees in accounting and economics from Utah State University and a Master of Accounting from the University of Utah.

Sarcos has confirmed that Thatcher does not have any familial connections to any director or executive officer of the company and has not been involved in any reportable transactions with the company. The appointment was made without any pre-existing agreements or understandings with other individuals.

According to Thatcher’s Employment Agreement, he will be an at-will employee with an initial base salary of $300,000 and will have the potential to receive an annual target bonus of 35% of his base salary. He will also receive an equity award of 100,000 restricted stock units in the company which will vest over time and is contingent upon his continued service. This award will be granted under the terms of the company’s 2021 Equity Incentive Plan.

The transition appears to be a strategic step for Sarcos as it continues to expand and innovate in the field of robotics. The company expressed appreciation for Hamer’s dedicated service during his time with them while looking forward to what Thatcher can bring to their team.

By Samantha Johnson

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