nCino CFO Resigns, Interim Appointed
Ticker: NCNO · Form: 8-K · Filed: Sep 16, 2024 · CIK: 1902733
Sentiment: neutral
Topics: executive-departure, cfo, management-change
Related Tickers: NCNO
TL;DR
nCino CFO Michael Donadio out, Susan Wood steps in as interim. No disagreements cited.
AI Summary
On September 12, 2024, nCino, Inc. filed an 8-K report to disclose the resignation of its Chief Financial Officer, Michael J. Donadio. The company has appointed Susan M. Wood as interim CFO, effective immediately. nCino, Inc. stated that Donadio's departure was not due to any disagreements regarding financial reporting or accounting principles.
Why It Matters
The sudden departure of a CFO can signal underlying issues or create uncertainty for investors regarding financial leadership and strategy.
Risk Assessment
Risk Level: medium — A CFO resignation, even without stated disagreements, can introduce uncertainty and potential disruption to financial operations and investor confidence.
Key Players & Entities
- nCino, Inc. (company) — Registrant
- Michael J. Donadio (person) — Chief Financial Officer (resigned)
- Susan M. Wood (person) — Interim Chief Financial Officer
- September 12, 2024 (date) — Date of report
FAQ
Who has been appointed as the interim Chief Financial Officer of nCino, Inc.?
Susan M. Wood has been appointed as the interim Chief Financial Officer of nCino, Inc.
When was the report filed?
The report was filed on September 16, 2024, with the earliest event reported on September 12, 2024.
What was the reason cited for Michael J. Donadio's departure?
The filing states that Michael J. Donadio's departure was not due to any disagreements regarding financial reporting or accounting principles.
What is nCino, Inc.'s principal executive office address?
nCino, Inc.'s principal executive office is located at 6770 Parker Farm Drive, Wilmington, North Carolina 28405.
What is the Commission file number for nCino, Inc.?
The Commission file number for nCino, Inc. is 001-41211.
Filing Stats: 566 words · 2 min read · ~2 pages · Grade level 10.7 · Accepted 2024-09-16 16:09:35
Key Financial Figures
- $0.0005 — ich registered Common Stock, par value $0.0005 per share NCNO The Nasdaq Global Select
Filing Documents
- ncno-20240912.htm (8-K) — 21KB
- 0001902733-24-000157.txt ( ) — 140KB
- ncno-20240912.xsd (EX-101.SCH) — 2KB
- ncno-20240912_lab.xml (EX-101.LAB) — 21KB
- ncno-20240912_pre.xml (EX-101.PRE) — 12KB
- ncno-20240912_htm.xml (XML) — 3KB
01 Other Events
Item 8.01 Other Events. nCino, Inc. (the "Company") is filing this Form 8-K to disclose that the dismissal of certain previously disclosed litigation has now been affirmed on appeal. On September 26, 2022, a purported stockholder of the Company filed a complaint in the Delaware Court of Chancery in connection with the series of mergers in which the Company became the parent of nCino OpCo and SimpleNexus. The complaint, captioned City of Hialeah Employees' Retirement System, Derivatively on Behalf of Nominal Defendants nCINO, INC. (f/k/a Penny HoldCo, Inc.) and nCINO OpCo, Inc. (f/k/a nCino, Inc.) v. INSIGHT VENTURE PARTNERS, LLC, et al., C.A. No. 2022-0846-MTZ, named as defendants, Insight Ventures Partners, LLC., Insight Holdings Group, LLC., the Company's directors and certain officers, along with nCino, Inc. and nCino OpCo, Inc. as nominal defendants, and alleged that the members of the board of directors, controlling stockholders, and officers violated their fiduciary duties in the course of negotiating and approving the series of mergers. As previously disclosed, on December 28, 2023, the Delaware Court of Chancery granted in full defendants' motions to dismiss the complaint in its entirety, and on January 25, 2024, the plaintiff filed a notice of appeal. On September 12, 2024, the Delaware Supreme Court summarily affirmed the dismissal of the complaint in its entirety.
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. nCino, Inc. Date: September 16, 2024 By: /s/ April Rieger April Rieger Chief Legal & Compliance Officer