Kubient, Inc.: restructuring charge — Kubient cuts workforce 50%, terminates CTO, explores business wind-down

Kubient, Inc.

Reduced workforce by ~50% (2 employees) as part of potential wind-down of business (Item 2.05).
CTO Mitchell Berg terminated without cause; receives $150,000 severance (6 months base salary) plus COBRA subsidy.
Restructuring charges for severance and benefits expected, but amounts redacted in filing.
Reduction intended to lower operating costs as company considers winding down operations.

item 2.05 item 5.02 item 9.01

Executive movements

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Departed

Mitchell Berg

Chief Technology Officer

Kubient, Inc.

Effective: 2024-05-03
Filed: May 8, 2024, 7:59 PM ET

On May 3, 2024 (the “Separation Date”), as part of the reduction in workforce plan described above in Item 2.05, the Company terminated the employment of Mitchell Berg as Chief Technology Officer of the Company without cause.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Mitchell Berg departed as Chief Technology Officer at Kubient, Inc..

Action: terminated without cause
Role: Chief Technology Officer

Exact text from the filing

On May 3, 2024 (the “Separation Date”), as part of the reduction in workforce plan described above in Item 2.05, the Company terminated the employment of Mitchell Berg as Chief Technology Officer of the Company without cause.

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Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Kubient, Inc. announced a restructuring with charges of approximately $[●] (approximately 50% reduction in the Company’s workforce, or two people).

Type: restructuring
Charge: approximately $[●]
Headcount: approximately 50% reduction in the Company’s workforce, or two people

Exact text from the filing

On May 3, 2024, Kubient, Inc. (the “Company”) implemented an approximately 50% reduction in the Company’s workforce, or two people.

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3 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

Source: SEC EDGAR

accession 0001140361-24-024787

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