secwatch.observer — SEC 8-K summary
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Issuer:     LIVEPERSON INC (LPSN)
CIK:        0001102993
Form:       8-K
Filed at:   2024-01-22T23:59:59+00:00
Accession:  0001102993-24-000019
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 3.03, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

LivePerson adopts poison pill to protect $400M+ NOLs after stockholder accumulates >10% stake
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- Cumulative NOLs exceed $400M as of Dec 31, 2023; plan aims to preserve these tax assets.
- Plan triggered by a stockholder accumulating >10% of common stock, increasing risk of Section 382 ownership change.
- One right dividend per share; restricts beneficial ownership to <4.9% without board approval.
- Rights expire Jan 21, 2027, or earlier if not ratified at 2024 annual meeting (then Jan 21, 2025).
- Existing holders >4.9% grandfathered but cannot acquire additional shares without board approval.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1102993/000110299324000019/0001102993-24-000019-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1102993/000110299324000019/lpsn-20240122.htm
  HTML page:      https://secwatch.observer/filing/0001102993-24-000019

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