PagerDuty (NYSE: PD) outlines CFO retirement transition and $475,000 advisor role
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
PagerDuty, Inc. reported that it has entered into a Transition Agreement with its Chief Financial Officer and principal financial officer, Owen Howard Wilson, in connection with his previously disclosed retirement. He is expected to remain in the CFO role until a new CFO’s employment begins, referred to as the Appointment Date.
After the Appointment Date, Mr. Wilson is anticipated to continue as a full-time strategic advisor in a non-officer capacity until no later than February 28, 2027, with an anticipated annual salary of $475,000. His existing equity awards will continue to vest under their current terms, and his employment will remain on an at-will basis. The full Transition Agreement is filed as Exhibit 10.1.
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8-K Event Classification
2 items: 5.02, 9.01
2 items
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.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
FAQ
What executive change did PagerDuty (PD) disclose in this 8-K?
PagerDuty disclosed a Transition Agreement with Chief Financial Officer Owen Howard Wilson related to his previously announced retirement. He will stay on as CFO until a new CFO starts, then move into a full-time strategic advisor role until up to February 28, 2027.
How long will PagerDuty’s current CFO remain with the company?
Owen Howard Wilson is expected to remain CFO until the new CFO’s Appointment Date. After that, he is anticipated to continue as a full-time strategic advisor in a non-officer capacity until no later than February 28, 2027, providing continuity during the transition period.
What compensation will PagerDuty’s outgoing CFO receive as strategic advisor?
As strategic advisor, Mr. Wilson’s annual salary is anticipated to be $475,000. This compensation applies after the new CFO’s Appointment Date. In addition, his existing equity awards will continue to remain outstanding and vest according to their current governing plan documents and agreements.
What happens to the equity awards of PagerDuty CFO Owen Howard Wilson?
Mr. Wilson’s equity awards will remain outstanding and continue to vest under the existing terms and conditions of the applicable equity plans and agreements. The Transition Agreement does not change those vesting rules; it preserves the current structure as he moves to the strategic advisor role.
Is Owen Howard Wilson’s employment with PagerDuty guaranteed through 2027?
No, his employment remains at-will, meaning either PagerDuty or Mr. Wilson can terminate the relationship at any time. The Transition Agreement anticipates full-time strategic advisor service until no later than February 28, 2027, but it does not remove the at-will employment status.
Where can investors find the full terms of PagerDuty’s CFO Transition Agreement?
The complete Transition Agreement for Owen Howard Wilson is filed as Exhibit 10.1 to the 8-K. The company notes that the summary is qualified in its entirety by that agreement, which provides the detailed legal and compensation terms governing his transition and advisory role.