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Magnite (NASDAQ: MGNI) Chief Product Officer Adam Soroca to step down

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Magnite, Inc. reported a leadership change in its product organization. The company announced that Chief Product Officer Adam Soroca will cease serving in that role effective April 8, 2026. He will remain with Magnite as an advisor through May 15, 2026 to support transition activities.

In connection with his termination of employment, Mr. Soroca will receive severance benefits under his existing Executive Severance and Vesting Acceleration Agreement, which is described in Magnite’s 2025 proxy statement. The filing does not indicate any change to Magnite’s core operations or strategy beyond this executive transition.

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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
8-K event date April 7, 2026 Date Magnite announced Chief Product Officer transition
CPO role end date April 8, 2026 Effective date Adam Soroca ceases serving as Chief Product Officer
Advisor period end May 15, 2026 Last date Adam Soroca will remain employed as advisor
Chief Product Officer financial
"announced that Adam Soroca would cease serving as the Company’s Chief Product Officer"
Executive Severance and Vesting Acceleration Agreement financial
"severance benefits in accordance with the terms of the Executive Severance and Vesting Acceleration Agreement"
Proxy Statement regulatory
"as further described in the Company’s Proxy Statement for the 2025 Annual Meeting of Stockholders"
A proxy statement is a document companies send to shareholders ahead of a meeting that lays out the items up for a vote—like who will sit on the board, executive pay, and major corporate decisions—and provides background so shareholders can decide how to cast their votes or appoint someone to vote for them. Think of it as an agenda plus a ballot and briefing notes, important because the outcomes can change control, strategy, and value.
Emerging growth company regulatory
"Emerging growth company Item 5.02."
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
Understanding 8-K Material Events →
0001595974FALSE00015959742026-04-072026-04-07

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

April 7, 2026
Date of Report (Date of earliest event reported)

MAGNITE, INC.
(Exact name of registrant as specified in its charter)

Delaware
001-36384
20-8881738
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification No.)
1250 Broadway, 9th Floor
New York, New York 10001
(Address of principal executive offices, including zip code)
(212) 243-2769
(Registrant’s telephone number, including area code)
Not applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common stock, par value $0.00001 per share
MGNI
Nasdaq Global Select Market
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company  ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐


Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


On April 7, 2026, Magnite, Inc. (the “Company”) announced that Adam Soroca would cease serving as the Company’s Chief Product Officer, effective April 8, 2026. Mr. Soroca will remain employed with the Company as an advisor through May 15, 2026. In connection with his termination of employment, Mr. Soroca will be entitled to severance benefits in accordance with the terms of the Executive Severance and Vesting Acceleration Agreement, between the Company and Mr. Soroca, as further described in the Company’s Proxy Statement for the 2025 Annual Meeting of Stockholders, filed with the SEC on April 16, 2025.


SIGNATURE
    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.

MAGNITE, INC.
Date:
April 10, 2026
By:
/s/ Aaron Saltz
Aaron Saltz
Chief Legal Officer

Source: View Original Filing on SEC EDGAR

FAQ

What executive change did Magnite (MGNI) disclose in this 8-K filing?

Magnite disclosed that Chief Product Officer Adam Soroca will leave his role effective April 8, 2026. He will continue as an advisor through May 15, 2026, helping manage the transition of product leadership responsibilities during this period.

When is Magnite (MGNI) Chief Product Officer Adam Soroca’s departure effective?

Magnite stated that Chief Product Officer Adam Soroca will cease serving in that role effective April 8, 2026. After that date, he will no longer hold the Chief Product Officer title, but will remain with the company in an advisory capacity for several weeks.

How long will Adam Soroca remain as an advisor to Magnite (MGNI)?

The filing explains that Adam Soroca will continue as an advisor to Magnite through May 15, 2026. This advisory period provides short-term continuity and support for the company’s product function following his departure from the Chief Product Officer role.

What severance arrangements apply to Adam Soroca’s departure from Magnite (MGNI)?

Magnite notes that Adam Soroca will receive severance benefits under an existing Executive Severance and Vesting Acceleration Agreement. The agreement’s terms are described in Magnite’s 2025 proxy statement, which outlines compensation and vesting provisions for certain executive terminations.

Does Magnite’s 8-K mention why the Chief Product Officer is leaving?

The 8-K filing identifies that Adam Soroca will cease serving as Chief Product Officer but does not state a reason for his departure. It focuses on effective dates, his temporary advisory role, and reference to the applicable executive severance agreement.

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