F5, Inc. Files 8-K: Operations, Personnel, and Financial Updates
Ticker: FFIV · Form: 8-K · Filed: Oct 28, 2024 · CIK: 1048695
| Field | Detail |
|---|---|
| Company | F5, INC. (FFIV) |
| Form Type | 8-K |
| Filed Date | Oct 28, 2024 |
| Risk Level | low |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $500,000, $2,400,000, $1 billion, $422.4 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: corporate-events, financial-reporting, personnel-changes
Related Tickers: FFIV
TL;DR
F5 filed an 8-K on Oct 28 for events on Oct 25 covering financials, exec changes, and other biz updates.
AI Summary
F5, Inc. filed an 8-K on October 28, 2024, reporting on events that occurred on October 25, 2024. The filing indicates updates regarding results of operations and financial condition, potential changes in directors or officers, and other events. It also includes financial statements and exhibits.
Why It Matters
This 8-K filing provides crucial updates on F5, Inc.'s financial performance and any significant changes in its leadership or operations, which can impact investor decisions.
Risk Assessment
Risk Level: low — This is a routine 8-K filing reporting on standard corporate events and financial information, not indicating immediate significant risks.
Key Players & Entities
- F5, Inc. (company) — Registrant
- October 25, 2024 (date) — Date of Earliest Event Reported
- October 28, 2024 (date) — Date of Report
- 801 5th Avenue Seattle, WA 98104 (address) — Principal executive offices
FAQ
What specific financial information is being updated in this 8-K filing?
The filing indicates updates regarding 'Results of Operations and Financial Condition' but does not provide specific dollar amounts or detailed financial figures within the provided text.
Are there any reported departures or elections of directors or officers?
Yes, the filing lists 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers' as an item information, suggesting such events may be reported.
What is the primary business of F5, Inc. according to the filing?
F5, Inc. is classified under 'COMPUTER COMMUNICATIONS EQUIPMENT [3576]' according to its Standard Industrial Classification.
When was F5, Inc. incorporated, and in which state?
F5, Inc. was incorporated in Washington (WA).
What was F5, Inc.'s former company name?
F5, Inc. was formerly known as F5 NETWORKS, INC., and prior to that, F5 NETWORKS INC and F5 LABS INC.
Filing Stats: 1,224 words · 5 min read · ~4 pages · Grade level 12.3 · Accepted 2024-10-28 16:07:16
Key Financial Figures
- $500,000 — CFO, Mr. Werner's annual base salary is $500,000 and his target annual bonus is 80% of h
- $2,400,000 — on a prior average stock price value of $2,400,000, of which 50% of the restricted stock u
- $1 billion — 024, the Board authorized an additional $1 billion for the Company's common stock share re
- $422.4 million — new authorization is incremental to the $422.4 million currently unused in the existing progra
Filing Documents
- ffiv-20241025.htm (8-K) — 35KB
- ex991-q424earningsreleasef.htm (EX-99.1) — 279KB
- 0001048695-24-000154.txt ( ) — 459KB
- ffiv-20241025.xsd (EX-101.SCH) — 2KB
- ffiv-20241025_lab.xml (EX-101.LAB) — 21KB
- ffiv-20241025_pre.xml (EX-101.PRE) — 12KB
- ffiv-20241025_htm.xml (XML) — 3KB
02 Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition On October 28, 2024, F5, Inc. (the "Company" or "F5") issued a press release regarding its financial results for the fourth quarter and fiscal year ended September 30, 2024. The press release is attached hereto as Exhibit 99.1. The information in the press release shall not be treated as filed for purposes of the Securities Exchange Act of 1934, as amended. Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers On October 25, 2024, the Company's Board of Directors (the "Board") took action to appoint Edward Cooper Werner as its next Executive Vice President ("EVP") and Chief Financial Officer ("CFO"). Mr. Werner will assume his role effective on the first business day following the filing with the Securities and Exchange Commission of the Company's Form 10-K for the Company's 2024 fiscal year and the related retirement of the Company's current EVP and CFO, Frank Pelzer, consistent with the Company's public announcement on July 29, 2024. Mr. Werner, age 50, has served as F5's Senior Vice President, Finance since 2012 and prior to that served as Vice President, Finance starting in 2008. Mr. Werner received a B.A. in Business Administration with an Accounting Concentration from the Foster School of Business at the University of Washington. There are no arrangements or understandings between Mr. Werner and any other persons pursuant to which he was selected as EVP and CFO. There are no family relationships among any of the Company's directors, executive officers and Mr. Werner. He has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K. In connection with his appointment as EVP and CFO, Mr. Werner's annual base salary is $500,000 and his target annual bonus is 80% of his base salary for the applicable period. In addition, subject to T
01 Other Events
Item 8.01 Other Events On October 25, 2024, the Board authorized an additional $1 billion for the Company's common stock share repurchase program. The new authorization is incremental to the $422.4 million currently unused in the existing program. Acquisitions for the share repurchase program will be made from time to time in private transactions, accelerated share repurchase programs, or open market purchases as permitted by securities laws and other legal requirements. The program can be terminated at any time.
Forward Looking Statements
Forward Looking Statements Certain statements in this Current Report on Form 8-K are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words indicating future events, performance, results and actions, such as "will," "expect," and "following," and variations of such words, and other similar expressions, identify forward-looking statements, but their absence does not mean that a statement is not forward-looking. The forward-looking statements in this report include, among others, statements regarding management succession and the Company's share repurchase program and related matters. Forward-looking statements are not guarantees of future actions, events, results or performance, which may vary materially from those expressed or implied in such statements. Differences may result from, among other things, actions taken by the Company or its management or Board, as well as those beyond the Company's control, including those taken by third parties. Such risks and uncertainties include, but are not limited to, timing and integration of management changes (and related arrangements), F5's ability to execute on and board and management decisions relating to F5's share repurchase program, and changes in strategic and other business objectives. For more information on factors that may affect future performance, events, results or actions, please review "Risk Factors" described in the Company's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q filed with the SEC, as well as other public filings with the SEC. These forward- looking statements reflect the Company's expectations as of the date hereof, and the Company undertakes no obligation to update the information provided herein.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits: 99.1 Press Release of F5, Inc. announcing quarterly earnings dated October 28, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. F5, INC. (Registrant) Date: October 28, 2024 By: /s/ Franois Locoh-Donou Franois Locoh-Donou President and Chief Executive Officer