Peraso CEO named interim CFO as Sullivan resigns
Peraso’s CFO will step down in October 2026 as the CEO assumes interim finance roles and stockholders approve a 1.5 million-share increase to the equity plan.
Rhea-AI Filing Summary
Peraso Inc. (PRSO) reported that Chief Financial Officer and Secretary James Sullivan has resigned, effective October 2, 2026, including from officer and director roles at its subsidiaries. The company states his resignation is for personal reasons and not due to any disagreement over operations, policies, practices, or financial reporting.
Chief Executive Officer Ronald Glibbery has been appointed interim Chief Financial Officer, Secretary, principal financial officer, and principal accounting officer, effective October 2, 2026, and will receive no additional compensation beyond his CEO pay. Stockholders approved an amendment to the Amended and Restated 2019 Stock Incentive Plan to increase the shares reserved for issuance by 1,500,000, along with all director nominees and the other proposals presented at the September 10, 2026 annual meeting, where shares representing 41.62% of voting power were present.
Positive
- None.
Negative
- Chief Financial Officer resignation: James Sullivan will leave his roles effective October 2, 2026, creating a leadership transition in the finance function even though the company reports his departure is for personal reasons and not due to disagreements.
Filing Explained
The shareholder-approved increase adds 1,500,000 shares to the 2019 Plan’s reserve for issuance; the filing does not report grants or issuances, so it expands future issuance capacity rather than documenting immediate dilution of existing holders.
8-K Event Classification
3 items: 5.02, 5.07, 9.01
3 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 5.07
Submission of Matters to a Vote of Security Holders
Governance
Results of a shareholder vote on proposals at an annual or special meeting.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Additional shares reserved under 2019 Stock Incentive Plan: 1,500,000 shares
Annual Meeting voting power represented: 41.62%
Votes for director Ronald Glibbery: 887,320 votes
+3 more
6 metrics
Additional shares reserved under 2019 Stock Incentive Plan
1,500,000 shares
Increase in common stock reserved under the Amended and Restated 2019 Stock Incentive Plan approved September 10, 2026
Annual Meeting voting power represented
41.62%
Voting power of outstanding shares present or represented by proxy at the September 10, 2026 Annual Meeting
Votes for director Ronald Glibbery
887,320 votes
Election of Ronald Glibbery as director at the 2026 Annual Meeting
Votes withheld for director Ronald Glibbery
230,011 votes
Election of Ronald Glibbery as director at the 2026 Annual Meeting
Broker non-votes on director elections
5,157,456 votes
Broker non-votes recorded in the director election proposals at the 2026 Annual Meeting
Votes for a key proposal
5,937,751 votes
One shareholder proposal approved with 5,937,751 for, 169,037 against, 167,999 abstain, and no broker non-votes
Key Terms
broker non-vote, principal financial officer, principal accounting officer, Amended and Restated 2019 Stock Incentive Plan, +2 more
6 terms
broker non-vote financial
"Broker Non-Vote | ----------------------------------------------------- Ronald Glibbery"
A broker non-vote happens when a brokerage firm holds shares in street name for a client but does not cast a ballot on a particular shareholder item because the broker lacks discretionary authority to vote that matter. Think of it like a person who owns a ticket but the ticket-holder refuses to vote on some issues; the share counts for ownership but not for that vote, which can affect whether proposals reach the required number of votes or a quorum.
principal financial officer financial
"designated Mr. Glibbery as the Company’s principal financial officer"
The principal financial officer is the senior executive who runs a company's financial operations: preparing and certifying financial reports, managing accounting controls, budgets and cash flow, and advising on financial strategy. Investors care about this role because its competence affects how trustworthy the company’s numbers are, how well it manages risk and capital needs, and the credibility of forecasts—like the chief navigator steering a firm's financial course.
principal accounting officer financial
"and principal accounting officer, in each case effective October 2, 2026"
The Principal Accounting Officer is the person responsible for making sure a company's financial records are accurate and follow the rules. They play a key role in preparing financial reports that show how well the company is doing. This helps investors, managers, and regulators trust the company's financial information.
Amended and Restated 2019 Stock Incentive Plan financial
"approved an amendment to the Company’s Amended and Restated 2019 Stock Incentive Plan"
Regulation S-K regulatory
"The information required by Items 401(b), (d) and (e) of Regulation S-K"
A set of U.S. Securities and Exchange Commission rules that tell public companies which narrative and qualitative details must be disclosed in filings, such as risk factors, management discussion, executive pay, legal proceedings and business description. Think of it as a standardized checklist or blueprint that ensures investors get the same types of background information from every company so they can compare risks, management quality and strategy before making investment decisions.
proxy statement financial
"described in more detail in the Proxy Statement"
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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
Why did Peraso Inc. (PRSO) announce a CFO change in this 8-K?
Peraso disclosed that James Sullivan resigned as Chief Financial Officer and Secretary, effective October 2, 2026, including from officer and director positions at subsidiaries. The company states his resignation is for personal reasons and not due to any disagreement on operations or financial reporting.
Who will serve as interim CFO of Peraso Inc. (PRSO) after October 2, 2026?
Ronald Glibbery, Peraso’s Chief Executive Officer and a board member, will serve as interim Chief Financial Officer, Secretary, principal financial officer, and principal accounting officer starting October 2, 2026, and will not receive additional compensation for these interim roles.
What change was approved to Peraso’s 2019 Stock Incentive Plan (PRSO)?
Stockholders approved an amendment to the Amended and Restated 2019 Stock Incentive Plan increasing the number of shares of common stock reserved for issuance by 1,500,000 shares. The amended plan is filed as Exhibit 10.1 and is incorporated by reference.
Were Peraso Inc. (PRSO) director nominees elected at the 2026 Annual Meeting?
Yes. All four nominees—Ronald Glibbery, Cornelis Links, Andreas Melder, and Robert Y. Newell—were elected as directors. For example, Glibbery received 887,320 votes for, 230,011 withheld, and 5,157,456 broker non-votes.
Did Peraso’s stockholders approve other proposals at the 2026 Annual Meeting (PRSO)?
Yes. Multiple proposals were approved. One proposal received 5,937,751 votes for, 169,037 against, and 167,999 abstain with no broker non-votes, while other proposals, including the plan amendment, also achieved majority support.
AI-generated analysis. How Rhea-AI works. Not financial advice.
