{"schema_version":"secwatch.filing_event.v1","accession":"0001140361-23-031710","form_type":"8-K","ticker":null,"cik":"0001719395","company_name":"Eargo, Inc.","filed_at":"2023-06-27T23:59:59+00:00","discovered_at":"2026-05-14T18:03:40.210863+00:00","generated_at":"2026-06-13T16:24:07.002457+00:00","sec_items":["2.05","5.02"],"event_type":"leadership","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Eargo to cut 32–42% of workforce, CEO Gormsen steps down; Brownie named interim CEO","bullets":["Board approved cost reduction plan affecting 90–120 employees (~32–42% of workforce) with $5.0–$7.0M in non-recurring charges.","CEO Christian Gormsen to resign as President, CEO, and director effective June 30, 2023; receives $990,000 severance plus COBRA and option extension.","William Brownie, current COO, appointed interim CEO effective June 30, 2023, retaining COO role.","Board size reduced from seven to six directors upon Gormsen's departure.","Gormsen's resignation not due to any disagreement with the company."],"urls":{"canonical":"https://secwatch.observer/filing/0001140361-23-031710","json":"https://secwatch.observer/filing/0001140361-23-031710.json","markdown":"https://secwatch.observer/filing/0001140361-23-031710.md","text":"https://secwatch.observer/filing/0001140361-23-031710.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1719395/000114036123031710/0001140361-23-031710-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1719395/000114036123031710/brhc20054975_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-13T16:24:07.002457+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":"38d5af07e1","claim":"Christian Gormsen departed as President, Chief Executive Officer, and member of the Board of Directors at Eargo, Inc..","evidence_excerpt":"On June 23, 2023, the Board approved plans for Christian Gormsen, President, Chief Executive Officer, and member of the Board of Directors, to separate from the Company and to step down from his positions as President, Chief Executive Officer, and director, in each case, effective June 30, 2023.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1719395/000114036123031710/0001140361-23-031710-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"stepped down"},{"label":"Role","value":"President, Chief Executive Officer, and member of the Board of Directors"}],"fact_type":"executive_change"},{"claim_id":"39c639a07d","claim":"William Brownie was appointed as interim Chief Executive Officer at Eargo, Inc..","evidence_excerpt":"On June 23, 2023, the Board appointed William Brownie as interim Chief Executive Officer of the Company to succeed Mr. Gormsen, effective June 30, 2023.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1719395/000114036123031710/0001140361-23-031710-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"interim Chief Executive Officer"}],"fact_type":"executive_change"},{"claim_id":"9a19be51538d23bfbf2a3a4405484ab31a10e761","claim":"Eargo, Inc. announced a restructuring with charges of approximately $5.0–$7.0 million (approximately 90–120 employees, or approximately 32–42% of the Company’s workforce).","evidence_excerpt":"The plan is expected to impact approximately 90–120 employees, or approximately 32–42% of the Company’s workforce. The Company estimates that it will incur non-recurring charges of approximately $5.0–$7.0 million in connection with the plan, primarily consisting of one-time employee termination costs such as severance payments, notice pay, employee benefits contribution and related costs, as well as the potential impairment of certain intangible and other assets.","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1719395/000114036123031710/0001140361-23-031710-index.htm","confidence":0.9,"family_label":"Restructurings & Charges","details":[{"label":"Type","value":"restructuring"},{"label":"Charge","value":"approximately $5.0–$7.0 million"},{"label":"Headcount","value":"approximately 90–120 employees, or approximately 32–42% of the Company’s workforce"}],"fact_type":"restructuring_charge"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}