OLO Inc. Reports Departure of Chief Revenue Officer, Diego Panama

On January 21, 2025, Olo Inc. (NYSE: OLO) disclosed in its Form 8-K filing with the Securities and Exchange Commission that Mr. Diego Panama, the Chief Revenue Officer of the company, would be departing as previously announced. The mutual decision was made for Mr. Panama to leave the company on December 31, 2024, with an agreement for him to continue providing advisory services on an as-needed basis until March 31, 2025.

Under the terms of the Advisor Agreement signed on January 21, 2025, Olo Inc. has agreed to compensate Mr. Panama for his advisory services. This includes a monthly fee of $45,833, a prorated bonus reflecting Mr. Panama’s executive bonus structure for 2024, excluding commissions, with company performance targets for the first quarter of 2025, and contributions towards Mr. Panama’s COBRA premiums during his advisory tenure. Additionally, stock awards granted to Mr. Panama will continue to vest through March 31, 2025.

In parallel with the Advisor Agreement, a Separation Agreement and Release was also signed on January 21, 2025. According to the Separation Agreement terms, Olo Inc. will commence payments for Mr. Panama’s severance, as outlined in Section 5.2(vi) of his Employment Agreement, effective April 1, 2025.

The company noted that a more comprehensive view of both agreements will be provided when they are filed as exhibits to Olo Inc.’s Annual Report on Form 10-K for the year ending December 31, 2024.

These changes come at a significant juncture for Olo Inc. as it navigates ongoing developments in its executive leadership.

The content contained in the attached Exhibit 99.2 pertains to the 4th Quarter 2024 Earnings Presentation for Simmons First National Corporation (NASDAQ: SFNC).

Please note that all information provided is based on the official SEC filing by Olo Inc. and subsequent available data.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read OLO’s 8K filing here.

OLO Company Profile

Olo, Inc engages in the provision of cloud-based, on-demand commerce platform for multi-location restaurant brands. It enables digital ordering and delivery. The company was founded in 2005 and is headquartered in New York, NY.