{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-26-049755","form_type":"8-K","ticker":"PASG","cik":"0001787297","company_name":"Passage BIO, Inc.","filed_at":"2026-04-28T23:59:59+00:00","discovered_at":"2026-05-14T18:02:32.907265+00:00","generated_at":"2026-05-15T03:00:58.188146+00:00","sec_items":["2.05"],"event_type":"other_material","sentiment":"negative","materiality_score":0.9,"calibrated_materiality_score":0.9,"confidence":"high","headline":"Passage Bio cuts ~75% of workforce, expects $3.3M in severance costs","bullets":["Workforce reduction of approximately 75%; substantial completion expected in Q2 and Q3 2026.","Aggregate severance and exit costs estimated at $3.3 million, primarily recorded in Q2 2026.","Restructuring part of previously announced strategic alternatives review to maximize shareholder value.","Severance benefits contingent on execution of release of claims by impacted employees."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-26-049755","json":"https://secwatch.observer/filing/0001104659-26-049755.json","markdown":"https://secwatch.observer/filing/0001104659-26-049755.md","text":"https://secwatch.observer/filing/0001104659-26-049755.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1787297/000110465926049755/0001104659-26-049755-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1787297/000110465926049755/tm2612859d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-15T03:00:58.188146+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"dd25d6cba07f2f87385a5e00312c7c85e229d8a2","claim":"Passage BIO, Inc. announced a restructuring with charges of approximately $3.3 million (approximately 75%).","evidence_excerpt":"The Company expects that the aggregate severance and exit costs for the Restructuring Plan will be approximately $3.3 million, which will be recorded primarily in the second quarter of 2026.","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1787297/000110465926049755/0001104659-26-049755-index.htm","confidence":0.9}],"comparable_filings":[{"accession":"0001315257-26-000036","ticker":"KOP","company_name":"Koppers Holdings Inc.","filed_at":"2026-05-08T23:59:59+00:00","headline":"Koppers conditionally plans to shut Stickney, IL chemical operations; Q1 adjusted EPS down 19.7%","event_type":"other_material","sec_items":["2.02","2.05","5.02","5.07","7.01","9.01"],"materiality_score":0.85,"calibrated_materiality_score":0.85,"match_reasons":["same fact type: restructuring_charge","same SEC item: 2.05","same event type: other_material","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001315257-26-000036","json":"https://secwatch.observer/filing/0001315257-26-000036.json","markdown":"https://secwatch.observer/filing/0001315257-26-000036.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1315257/000131525726000036/0001315257-26-000036-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1315257/000131525726000036/kop-20260507.htm"},"side_by_side_evidence":{"fact_type":"restructuring_charge","source_excerpt":"The Company expects that the aggregate severance and exit costs for the Restructuring Plan will be approximately $3.3 million, which will be recorded primarily in the second quarter of 2026.","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1787297/000110465926049755/0001104659-26-049755-index.htm","comparable_excerpt":"potentially appropriate uses for the Stickney facility following the end of production activities. The Company expects this action to result in pre-tax charges to earnings of $227 million to $262 million through the end of 2029, approximately $170 million to $195 million of which constitutes non-cash charges and approximately $57 million to $67 million of which","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1315257/000131525726000036/0001315257-26-000036-index.htm"}},{"accession":"0001477333-26-000033","ticker":"NET","company_name":"Cloudflare, Inc.","filed_at":"2026-05-07T23:59:59+00:00","headline":"Cloudflare Q1 revenue $639.8M +34% YoY; announces 20% workforce reduction","event_type":"other_material","sec_items":["2.02","2.05","7.01","9.01"],"materiality_score":0.85,"calibrated_materiality_score":0.85,"match_reasons":["same fact type: restructuring_charge","same SEC item: 2.05","same event type: other_material","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001477333-26-000033","json":"https://secwatch.observer/filing/0001477333-26-000033.json","markdown":"https://secwatch.observer/filing/0001477333-26-000033.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1477333/000147733326000033/0001477333-26-000033-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1477333/000147733326000033/cloud-20260507.htm"},"side_by_side_evidence":{"fact_type":"restructuring_charge","source_excerpt":"The Company expects that the aggregate severance and exit costs for the Restructuring Plan will be approximately $3.3 million, which will be recorded primarily in the second quarter of 2026.","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1787297/000110465926049755/0001104659-26-049755-index.htm","comparable_excerpt":"On May 7, 2026, the Company announced a plan (the “Plan”) designed to further accelerate its evolution to an agentic AI-first operating model. As part of the Plan, the Company expects to reduce its current workforce by approximately 20%. The Company currently estimates that it will incur charges of between $140 million and $150 million in connection with the Plan","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1477333/000147733326000033/0001477333-26-000033-index.htm"}},{"accession":"0001802457-26-000021","ticker":"ORGN","company_name":"Origin Materials, Inc.","filed_at":"2026-05-01T23:59:59+00:00","headline":"Origin Materials board approves dissolution, liquidation; CEO steps down; workforce cut 59%","event_type":"other_material","sec_items":["2.05","5.02","9.01"],"materiality_score":0.95,"calibrated_materiality_score":0.95,"match_reasons":["same fact type: restructuring_charge","same SEC item: 2.05","same event type: other_material","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001802457-26-000021","json":"https://secwatch.observer/filing/0001802457-26-000021.json","markdown":"https://secwatch.observer/filing/0001802457-26-000021.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1802457/000180245726000021/0001802457-26-000021-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1802457/000180245726000021/orgn-20260501.htm"},"side_by_side_evidence":{"fact_type":"restructuring_charge","source_excerpt":"The Company expects that the aggregate severance and exit costs for the Restructuring Plan will be approximately $3.3 million, which will be recorded primarily in the second quarter of 2026.","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1787297/000110465926049755/0001104659-26-049755-index.htm","comparable_excerpt":"its workforce by approximately 59%, resulting in an approximately $14.0 million decrease in annual operating expenses. Origin anticipates that it will incur approximately $2.1 million in restructuring charges in connection with the workforce reduction, primarily consisting of cash expenditures of approximately $2.1 million for severance and benefits costs.","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1802457/000180245726000021/0001802457-26-000021-index.htm"}},{"accession":"0001193125-26-155861","ticker":"SNAP","company_name":"Snap Inc","filed_at":"2026-04-15T23:59:59+00:00","headline":"Snap reports Q1 rev ~$1.53B (+12% YoY), adj EBITDA ~$233M; cuts 16% of staff (~1,000 jobs)","event_type":"other_material","sec_items":["2.02","2.05","7.01","9.01"],"materiality_score":0.8,"calibrated_materiality_score":0.8,"match_reasons":["same fact type: restructuring_charge","same SEC item: 2.05","same event type: other_material","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-26-155861","json":"https://secwatch.observer/filing/0001193125-26-155861.json","markdown":"https://secwatch.observer/filing/0001193125-26-155861.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1564408/000119312526155861/0001193125-26-155861-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1564408/000119312526155861/d36756d8k.htm"},"side_by_side_evidence":{"fact_type":"restructuring_charge","source_excerpt":"The Company expects that the aggregate severance and exit costs for the Restructuring Plan will be approximately $3.3 million, which will be recorded primarily in the second quarter of 2026.","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1787297/000110465926049755/0001104659-26-049755-index.htm","comparable_excerpt":"increased operational efficiencies to accelerate our path toward net-income profitability. As a result, we currently estimate that we will incur pre-tax charges in the range of $95 million to $130 million, primarily consisting of severance and related costs, contract termination costs, and other impairment charges, of which $75 million to $100 million are expected","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1564408/000119312526155861/0001193125-26-155861-index.htm"}},{"accession":"0001171843-26-002302","ticker":"CRMT","company_name":"AMERICAS CARMART INC","filed_at":"2026-04-07T23:59:59+00:00","headline":"America's Car-Mart to close 42 stores (31% of total); non-cash impairment ~$14M due to capital constraints","event_type":"other_material","sec_items":["2.05","2.06","7.01","9.01"],"materiality_score":0.9,"calibrated_materiality_score":0.9,"match_reasons":["same fact type: restructuring_charge","same SEC item: 2.05","same event type: other_material","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001171843-26-002302","json":"https://secwatch.observer/filing/0001171843-26-002302.json","markdown":"https://secwatch.observer/filing/0001171843-26-002302.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/799850/000117184326002302/0001171843-26-002302-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/799850/000117184326002302/f8k_040726.htm"},"side_by_side_evidence":{"fact_type":"restructuring_charge","source_excerpt":"The Company expects that the aggregate severance and exit costs for the Restructuring Plan will be approximately $3.3 million, which will be recorded primarily in the second quarter of 2026.","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1787297/000110465926049755/0001104659-26-049755-index.htm","comparable_excerpt":"the Company expects to record a non-cash impairment charge of approximately $14 million related to assets at the closing locations.","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/799850/000117184326002302/0001171843-26-002302-index.htm"}},{"accession":"0001171843-26-001794","ticker":"SSM","company_name":"Sono Group N.V.","filed_at":"2026-03-19T23:59:59+00:00","headline":"Sono Group exits solar subsidiary, adopts Bitcoin treasury strategy with covered-call yield","event_type":"other_material","sec_items":["2.05","8.01","9.01"],"materiality_score":0.85,"calibrated_materiality_score":0.85,"match_reasons":["same fact type: restructuring_charge","same SEC item: 2.05","same event type: other_material","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001171843-26-001794","json":"https://secwatch.observer/filing/0001171843-26-001794.json","markdown":"https://secwatch.observer/filing/0001171843-26-001794.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1840416/000117184326001794/0001171843-26-001794-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1840416/000117184326001794/f8k_031926.htm"},"side_by_side_evidence":{"fact_type":"restructuring_charge","source_excerpt":"The Company expects that the aggregate severance and exit costs for the Restructuring Plan will be approximately $3.3 million, which will be recorded primarily in the second quarter of 2026.","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1787297/000110465926049755/0001104659-26-049755-index.htm","comparable_excerpt":"On March 14, 2026, the supervisory board of Sono Group N.V. (the “Company”) resolved to terminate all current and future funding commitments to its sole operational subsidiary, Sono Motors GmbH, and to exit the legacy solar operations conducted through Sono Motors GmbH, with immediate effect.","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1840416/000117184326001794/0001171843-26-001794-index.htm"}},{"accession":"0001193125-26-110841","ticker":"ULCC","company_name":"Frontier Group Holdings, Inc.","filed_at":"2026-03-17T23:59:59+00:00","headline":"Frontier defers 69 Airbus deliveries to 2031-33; terminates leases on 24 A320neos from AerCap","event_type":"other_material","sec_items":["1.01","2.05"],"materiality_score":0.85,"calibrated_materiality_score":0.85,"match_reasons":["same fact type: restructuring_charge","same SEC item: 2.05","same event type: other_material","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-26-110841","json":"https://secwatch.observer/filing/0001193125-26-110841.json","markdown":"https://secwatch.observer/filing/0001193125-26-110841.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1670076/000119312526110841/0001193125-26-110841-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1670076/000119312526110841/d101355d8k.htm"},"side_by_side_evidence":{"fact_type":"restructuring_charge","source_excerpt":"The Company expects that the aggregate severance and exit costs for the Restructuring Plan will be approximately $3.3 million, which will be recorded primarily in the second quarter of 2026.","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1787297/000110465926049755/0001104659-26-049755-index.htm","comparable_excerpt":"the Early Return Agreement is expected to result in charges in the range of $75 million to $95 million in connection with early lease termination and return of aircraft and engines to AerCap to be recognized in the first and second quarters of 2026","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1670076/000119312526110841/0001193125-26-110841-index.htm"}},{"accession":"0001650372-26-000021","ticker":"TEAM","company_name":"Atlassian Corp","filed_at":"2026-03-11T23:59:59+00:00","headline":"Atlassian to cut ~10% workforce (~1,600 roles); CTO Rajeev Rajan departing","event_type":"other_material","sec_items":["2.05","7.01","5.02","9.01"],"materiality_score":0.8,"calibrated_materiality_score":0.8,"match_reasons":["same fact type: restructuring_charge","same SEC item: 2.05","same event type: other_material","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001650372-26-000021","json":"https://secwatch.observer/filing/0001650372-26-000021.json","markdown":"https://secwatch.observer/filing/0001650372-26-000021.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1650372/000165037226000021/0001650372-26-000021-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1650372/000165037226000021/team-20260311.htm"},"side_by_side_evidence":{"fact_type":"restructuring_charge","source_excerpt":"The Company expects that the aggregate severance and exit costs for the Restructuring Plan will be approximately $3.3 million, which will be recorded primarily in the second quarter of 2026.","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1787297/000110465926049755/0001104659-26-049755-index.htm","comparable_excerpt":"efficiency and sustainability. Position eliminations in each country are subject to local law and consultation requirements. The Company estimates it will incur approximately $225 million to $236 million in charges in connection with these actions, of which approximately $169 million to $174 million is expected to result in future cash outlays related to","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1650372/000165037226000021/0001650372-26-000021-index.htm"}}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}