Rackspace Technology Reports Director Departure, Officer Compensation
Ticker: RXT · Form: 8-K · Filed: Jan 17, 2025 · CIK: 1810019
| Field | Detail |
|---|---|
| Company | Rackspace Technology, Inc. (RXT) |
| Form Type | 8-K |
| Filed Date | Jan 17, 2025 |
| Risk Level | low |
| Pages | 5 |
| Reading Time | 7 min |
| Key Dollar Amounts | $0.01, $1,300,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: director-departure, officer-compensation, financial-statements
Related Tickers: RXT
TL;DR
McAndrews out at Rackspace, exec pay details and financials filed.
AI Summary
Rackspace Technology, Inc. announced on January 15, 2025, the departure of director Michael J. McAndrews. The company also reported on compensatory arrangements for certain officers and provided financial statements and exhibits. This filing is a current report under Section 13 or 15(d) of the Securities Exchange Act of 1934.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — This filing primarily reports routine corporate events like director departures and compensation details, with no immediate indication of significant financial distress or strategic shifts.
Key Numbers
- 001-39420 — SEC File Number (Identifies the company's filings with the SEC.)
- 81-3369925 — IRS Number (Company's Employer Identification Number.)
Key Players & Entities
- Rackspace Technology, Inc. (company) — Registrant
- Michael J. McAndrews (person) — Departing Director
- January 15, 2025 (date) — Date of earliest event reported
- Delaware (location) — State of Incorporation
- San Antonio, Texas (location) — Principal executive offices
FAQ
Who is Michael J. McAndrews and what was his role at Rackspace Technology?
Michael J. McAndrews was a director at Rackspace Technology, Inc., and his departure was reported on January 15, 2025.
What specific items are covered in this 8-K filing?
This 8-K filing covers the departure of directors or certain officers, election of directors, appointment of certain officers, compensatory arrangements of certain officers, Regulation FD Disclosure, and Financial Statements and Exhibits.
What is the date of the earliest event reported in this filing?
The date of the earliest event reported in this filing is January 15, 2025.
In which state is Rackspace Technology, Inc. incorporated?
Rackspace Technology, Inc. is incorporated in Delaware.
What is the business address of Rackspace Technology, Inc.?
The business address of Rackspace Technology, Inc. is 19122 US Highway 281N, Suite 128, San Antonio, Texas 78258.
Filing Stats: 1,637 words · 7 min read · ~5 pages · Grade level 11.5 · Accepted 2025-01-17 09:04:08
Key Financial Figures
- $0.01 — ch registered Common stock, par value $0.01 per share RXT The Nasdaq Stock Market L
- $1,300,000 — salary and severance payments totaling $1,300,000 payable in 26 bi-weekly installments; (
Filing Documents
- rxt-20250115.htm (8-K) — 40KB
- a20250117-pressreleaseex991.htm (EX-99.1) — 12KB
- 0001810019-25-000003.txt ( ) — 184KB
- rxt-20250115.xsd (EX-101.SCH) — 2KB
- rxt-20250115_lab.xml (EX-101.LAB) — 22KB
- rxt-20250115_pre.xml (EX-101.PRE) — 13KB
- rxt-20250115_htm.xml (XML) — 3KB
01. Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure. On January 17, 2025, the Company issued a press release announcing the foregoing changes to the Board and the executive leadership team. The press release also reaffirmed the financial guidance provided by the Company in a previous press release dated November 12, 2024. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated into this Item 7.01 by reference. The information in this Current Report on Form 8-K is being "furnished" pursuant to Item 7.01 and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and is not incorporated by reference into any Company filing, whether made before or after the date hereof, except as shall be expressly set forth by specific reference in such filing and regardless of any general incorporation language in such filing.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Exhibit Description 99.1 Press Release dated January 17, 2025 104 Cover Page Interactive Data File (formatted as Inline XBRL) -3-
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 thereunto duly authorized. RACKSPACE TECHNOLOGY, INC. Date: January 17, 2025 By: /s/ Sarah Alexander Sarah Alexander Vice President, Deputy General Counsel & Assistant Secretary -4-