SKILLZ INC. : Change in Directors or Principal Officers, Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K)

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

New Chief Financial Officer

Effective February 27, 2023 (the “Effective Date”), Alvin Lobo, 42, will serve
as Chief Financial Officer of Skillz Inc. (the “Company”) and report directly to
the Chief Executive Officer. Mr. Lobo previously served as the Senior Vice
President, Finance and then Chief Financial Officer of Score Media and Gaming
Inc., a digital media company (“Score Media”) from 2019 to 2022. Mr. Lobo joined
Score Media from Boyd Gaming Corporation, a gaming and hospitality company,
where he served as Vice President, Corporate Finance from 2016 to 2019. Prior to
Boyd Gaming, Mr. Lobo served as Director of Corporate Finance and Investor
Relations for Wynn Resorts from 2014 to 2016. Previously, he served as an
Investment Banking Associate at Barclays Capital from 2011 to 2014 and as an
Investment Banking Analyst from 2010 to 2011. Prior to Barclays Capital, Mr.
Lobo served as an Investment Banking Analyst at Lehman Brothers from 2007 to
2009. Mr. Lobo holds a Bachelor of Arts degree in Political Science from the
University of California, Berkeley.

Jason Roswig, the Company’s current President and Chief Financial Officer, will
transition to the role of President, effective the Effective Date.

Under an offer letter that Mr. Lobo entered into with the Company, and approved
by the Company’s Board of Directors on February 25, 2023, he will be paid a
salary of $450,000.00 per year. He will also be eligible to receive annual
target incentive compensation of $300,000.00 (pro-rated for 2023), subject to
achievement of certain performance goals. The Company will also grant Mr. Lobo a
restricted stock unit award covering shares of the Company’s Class A common
stock with a grant date value equal to $2,000,000.00. Such grant vests 25% on
the first anniversary of Mr. Lobo’s start date and the remainder vests in 12
substantially equal quarterly installments, in each case subject to continuous
service with the Company through each applicable vesting date, provided that the
grant vests in full if Mr. Lobo is terminated without cause following a change
of control of the Company. In addition, the Company will also grant to Mr. Lobo a performance stock unit award covering shares of the Company’s Class A common
stock with a grant date value equal to $2,000,000.00. Such grant vests over four
one-year periods, with pro-rata vesting for the first and last performance
periods, in each case subject to continuous service with the Company through
each applicable vesting date and the attainment of certain corporate performance
goals. Mr. Lobo will also receive a one-time signing bonus in the amount of
$200,000.00, which is repayable to the Company if Mr. Lobo voluntarily leaves
the Company within twelve (12) months of his start date or is terminated for
cause.

There are no family relationships between Mr. Lobo and any of the directors or
executive officers of the Company, and there are no transactions in which Mr.
Lobo has an interest requiring disclosure under Item 404(a) of Regulation S-K.
There is no arrangement or understanding between Mr. Lobo and any other person
pursuant to which Mr. Lobo was appointed as an officer of the Company.

Item 7.01. Regulation FD Disclosure

On February 27, 2023, the Company issued a press release announcing Mr. Lobo’s appointment. A copy of the press release is attached hereto as Exhibit 99.1.

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Item 9.01.     Financial Statements and Exhibits.



 (d)  Exhibits.



Exhibit Number               Description
  99.1                         Press Release dated February 27, 2023
104                          Cover Page Interactive Data File (formatted as inline XBRL Document)

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