Cerence Inc. Files 8-K: Operations, Personnel Changes, Financials
Ticker: CRNC · Form: 8-K · Filed: 2024-10-07T00:00:00.000Z
Sentiment: neutral
Topics: operations, personnel-change, financials
Related Tickers: CRNC
TL;DR
Cerence 8-K dropped: financials updated, director out, new one in, exec pay details.
AI Summary
Cerence Inc. filed an 8-K on October 7, 2024, reporting on its results of operations and financial condition. The filing also disclosed the departure of a director, the election of a new director, and information regarding compensatory arrangements for certain officers. Additionally, it included financial statements and exhibits.
Why It Matters
This filing provides crucial updates on Cerence's financial performance and significant changes in its board and executive compensation, which can impact investor confidence and strategic direction.
Risk Assessment
Risk Level: medium — The filing involves financial results and executive changes, which can introduce uncertainty and affect stock valuation.
Key Players & Entities
- Cerence Inc. (company) — Registrant
- October 6, 2024 (date) — Earliest event reported
- October 7, 2024 (date) — Filing date
- Delaware (jurisdiction) — State of incorporation
- 25 Mall Road, Suite 416 Burlington, MA 01803 (address) — Business and mail address
FAQ
What specific financial results are being reported by Cerence Inc. in this 8-K?
The 8-K indicates that it reports on 'Results of Operations and Financial Condition,' but the specific financial figures are not detailed in the provided header information.
Who is the departing director and who is the newly elected director?
The provided header information states that there was a 'Departure of Directors or Certain Officers' and 'Election of Directors,' but it does not name the individuals involved.
What are the details of the compensatory arrangements for certain officers?
The filing mentions 'Compensatory Arrangements of Certain Officers' as an item, but the specifics of these arrangements are not included in the header.
When was Cerence Inc. incorporated and in which state?
Cerence Inc. was incorporated in Delaware, as stated in the filing.
What is the primary business of Cerence Inc. according to its SIC code?
Cerence Inc.'s Standard Industrial Classification (SIC) code is 7372, which corresponds to SERVICES-PREPACKAGED SOFTWARE.
Filing Stats: 2,149 words · 9 min read · ~7 pages · Grade level 12.4 · Accepted 2024-10-07 17:22:30
Key Financial Figures
- $0.01 — ange on which registered Common stock, $0.01 par value CRNC The NASDAQ Stock Mar
- $600,000 — Krzanich will receive a base salary of $600,000 per year. In addition, Mr. Krzanich wil
- $6.0 million — award with a target aggregate value of $6.0 million. Such award will consist of 50% time-ba
Filing Documents
- d869370d8k.htm (8-K) — 39KB
- d869370dex101.htm (EX-10.1) — 20KB
- d869370dex102.htm (EX-10.2) — 54KB
- d869370dex103.htm (EX-10.3) — 4KB
- d869370dex991.htm (EX-99.1) — 38KB
- g869370dsp1.jpg (GRAPHIC) — 20KB
- g869370g1007153931034.jpg (GRAPHIC) — 1KB
- g869370g1007153931230.jpg (GRAPHIC) — 3KB
- 0001193125-24-233891.txt ( ) — 348KB
- crnc-20241006.xsd (EX-101.SCH) — 3KB
- crnc-20241006_lab.xml (EX-101.LAB) — 18KB
- crnc-20241006_pre.xml (EX-101.PRE) — 11KB
- d869370d8k_htm.xml (XML) — 4KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Offer Letter by and between the Company and Brian Krzanich 10.2 Change of Control and Severance Agreement, dated October 7, 2024, by and between the Company and Brian Krzanich 10.3 Amendment No. 1 to Cerence Inc. 2024 Inducement Plan 99.1 Press Release issued by Cerence Inc. on October 7, 2024* 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) * Furnished herewith
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. CERENCE INC. Date: October 7, 2024 By: /s/ Tony Rodriquez Name: Tony Rodriquez Title: Interim Chief Financial Officer