Globalscape CTO leaving company
Globalscape and its chief technology officer are parting ways.
According to filings with the Securities and Exchange Commission, Chief Technology Officer Peter Merkulov entered into a severance agreement with the company on Aug. 28.
Merkulov leaves with $42,187.51 in severance plus about $23,000 in additional compensation. The company also will pay Merkulov’s annual bonus for 2018 as well as continuing health insurance premiums through December.
The announcement comes amid what has been a turbulent year for the San Antonio-based software development company. Globalscape on Aug. 21 settled a securities class-action lawsuit brought by stockholders for $1.4 million.
Earlier in August, the company announced layoffs of about 40 workers, or nearly a third of its workforce.