Skillz Inc. 8-K

What Happened

• Skillz Inc. announced that Michael Darwal, who had been named Chief Financial Officer effective January 12, 2026 (per a prior 8-K filed Dec 18, 2025), withdrew his acceptance on December 23, 2025 and will not assume the CFO role.
• As a result, Skillz and current CFO Gaetano Franceschi entered a side letter to the Transition and Separation Agreement (dated December 17, 2025) extending Mr. Franceschi’s Termination Date to March 31, 2026, with the company’s option to further extend to June 30, 2026. Mr. Franceschi will continue as CFO until a permanent successor is appointed.

Key Details

• Michael Darwal withdrew his acceptance on December 23, 2025; his previously disclosed January 12, 2026 start will not occur.
• Gaetano Franceschi’s Termination Date is extended to March 31, 2026, with a company option to extend to June 30, 2026.
• Mr. Franceschi will remain on the same base salary and benefits and is eligible for a prorated 2026 annual bonus under his October 17, 2023 offer letter; bonus will be paid based on actual company performance and timing for similarly situated executives.
• The Transition and Separation Agreement otherwise remains unchanged; the company is conducting a search for a permanent CFO.

Why It Matters

• For investors, this filing signals a delay in Skillz’s planned CFO transition and continuity in finance leadership through at least Q1 2026. The extension preserves executive compensation and bonus arrangements for Mr. Franceschi and gives Skillz more time to identify a permanent successor without an immediate leadership gap.