secwatch.observer — SEC 8-K summary
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Issuer:     Cerence Inc. (CRNC)
CIK:        0001768267
Form:       8-K
Filed at:   2021-12-15T23:59:59+00:00
Accession:  0001193125-21-357483
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cerence appoints Stefan Ortmanns as CEO, succeeding Sanjay Dhawan
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- Stefan Ortmanns appointed CEO and director, effective immediately; Sanjay Dhawan resigned.
- Ortmanns previously EVP Core Products, responsible for >80% of company revenue.
- Base salary EUR 530,000; target LTI award $5M; sign-on bonus EUR 200,000.
- Dhawan provides transition assistance; confidentiality and release agreement.
- Company expects Q1 fiscal 2022 results within prior guidance range.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1768267/000119312521357483/0001193125-21-357483-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1768267/000119312521357483/d195671d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-21-357483

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