secwatch.observer — SEC 8-K summary
======================================

Issuer:     Cerence Inc. (CRNC)
CIK:        0001768267
Form:       8-K
Filed at:   2022-03-15T23:59:59+00:00
Accession:  0001193125-22-075466
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Cerence appoints Marc Montagner as CFO, effective April 4, 2022
---------------------------------------------------------------

- Marc Montagner named EVP and CFO, replacing Mark Gallenberger who retired March 11.
- Montagner previously CFO of Endurance International Group and LightSquared.
- Base salary $450,000; STI target 75% of base; initial equity award target $4.3M.
- Severance agreement includes change-of-control provisions with up to 150% salary and equity acceleration.
- Montagner also eligible for annual LTI award of $2.75M in November 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1768267/000119312522075466/0001193125-22-075466-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1768267/000119312522075466/d285364d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-075466

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer