Phunware begins cuts to about 26% of full-time staff

Phunware estimates approximately $0.4 million in severance costs and anticipates approximately $2.0 million in annualized cost savings.

Available on EDGAR 11/10/2026 - 04:06 PM EST Accepted by SEC EDGAR 11/10/2026 - 04:05 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Phunware, Inc. began a reduction in force on November 4, 2026, affecting approximately eight full-time employees, or approximately 26% of its full-time workforce. It also began delivering termination notices to approximately nine consultants.

Phunware estimates approximately $0.4 million in severance costs, expects the reductions to be complete by the end of December 2026, and anticipates approximately $2.0 million in annualized cost savings.

0 points · 0 major

NegativeiHow this balance works

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It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

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0 major · 1 point

How the balance works

Positive

• None.

Negative

• Moderate pointApproximately 26% of full-time employees are affected by the reduction in force.

8-K Event Classification

Item 2.05 — Costs Associated with Exit or Disposal Activities

1 item

Item 2.05 Costs Associated with Exit or Disposal Activities Financial

The company committed to an exit plan involving layoffs, facility closures, or restructuring charges.

Key Figures

Full-time employees affected: Approximately 8 full-time employees Full-time workforce affected: Approximately 26% Consultants receiving termination notices: Approximately 9 consultants +2 more

5 metrics

Full-time employees affected Approximately 8 full-time employees Reduction in force commenced November 4, 2026

Full-time workforce affected Approximately 26% Reduction in force commenced November 4, 2026

Consultants receiving termination notices Approximately 9 consultants Notices began November 4, 2026

Estimated severance costs Approximately $0.4 million In connection with the reductions in force

Anticipated annualized cost savings Approximately $2.0 million Resulting from the employee and consultant reductions

Key Terms

reduction in force, severance costs, annualized cost savings

3 terms

reduction in force technical

"commenced a reduction in force"

A reduction in force is an organized cutback in a company's workforce—commonly known as layoffs—intended to lower costs or reshape operations. Like trimming a household budget or pruning a garden, it can improve long-term financial health but often brings one-time costs, reduced capacity, and morale or execution risks that can affect revenue, expenses, and the company’s stock performance. Investors watch these moves for signals about future profitability and operational stability.

severance costs financial

"Severance costs incurred in connection"

annualized cost savings financial

"anticipates annualized cost savings"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many employees and consultants are affected by PHUN's workforce reductions?

Phunware began a reduction in force affecting approximately eight full-time employees, representing approximately 26% of its full-time workforce, and began delivering termination notices to approximately nine consultants on November 4, 2026.

What severance costs and savings does PHUN expect from the reductions?

Phunware estimates approximately $0.4 million in severance costs and anticipates approximately $2.0 million in annualized cost savings resulting from the employee and consultant reductions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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false000166530000016653002026-11-042026-11-04

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

Date of Report (Date of earliest event reported): November 04, 2026

Phunware, Inc.

(Exact name of Registrant as Specified in Its Charter)

Delaware			001-37862	30-1205798
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
1002 West Avenue
Austin, Texas				78701
(Address of Principal Executive Offices)				(Zip Code)

Registrant’s Telephone Number, Including Area Code: 512 693-4199

(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 $0.0001 per share		PHUN		The Nasdaq Stock 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 2.05 Costs Associated with Exit or Disposal Activities.

On November 4, 2026, as a result of cost cutting measures, Phunware, Inc. (the "Company") commenced a reduction in force affecting approximately eight (8) full-time employees, representing approximately 26% of the Company's full-time employee workforce. In addition, on November 4, 2026, the Company commenced the delivery of notices of termination to approximately nine (9) consultants. Severance costs incurred in connection with the reductions in force are estimated to be approximately $0.4 million. The Company expects the reduction in force to be complete by the end of December 2026 and anticipates annualized cost savings of approximately $2.0 million resulting from the employee and consultant reductions.

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.

			Phunware, Inc.
Date:	November 10, 2026	By:	/s/ Dmitry Kroshka
			Dmitry Kroshka Chief Executive Officer

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1 document

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