---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-006894"
form_type: "8-K"
ticker: "CRNC"
cik: "0001768267"
company_name: "Cerence Inc."
filed_at: "2023-01-12T23:59:59+00:00"
generated_at: "2026-06-20T16:05:41.979150+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "high"
source: SEC EDGAR
---

# Cerence enters change of control severance agreement with CTO Prateek Kathpal

## Summary
- Agreement has three-year initial term, automatically renews unless either party gives 90 days notice.
- Without cause termination outside change of control: 100% base salary over 12 months, target bonus + pro-rata, equity vesting for 12 months, 12 months COBRA.
- Within one year after change of control: lump sum 150% base salary, 150% target bonus + pro-rata, full equity acceleration, 18 months COBRA.
- Death or disability triggers full time-based equity vesting and pro-rata performance-based awards.
- Severance contingent on signing a release and complying with confidentiality and non-competition/non-solicitation covenants.

## SEC filing metadata
- accession: 0001193125-23-006894
- form_type: 8-K
- ticker: CRNC
- cik: 0001768267
- company_name: Cerence Inc.
- filed_at: 2023-01-12T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.3
- calibrated_materiality_score: 0.3
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1768267/000119312523006894/0001193125-23-006894-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1768267/000119312523006894/d396079d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-006894
- JSON: https://secwatch.observer/filing/0001193125-23-006894.json
- Plain text: https://secwatch.observer/filing/0001193125-23-006894.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.