Definitive Healthcare Corp. (DH): restructuring charge — Definitive Healthcare cuts ~6% of staff (55 employees) under restructuring plan

Definitive Healthcare Corp.

Reduction of approx. 55 employees (~6% of workforce) announced Jan 12, 2023.
Pre-tax cash charges of $2.0M-$2.5M expected in Q1 2023, mainly severance and benefits.
Restructuring substantially complete by end of Q1 2023; non-cash stock-based comp charge immaterial.
CEO cites economic slowdown and need to reduce cost structure after rapid hiring growth.
Affected employees get salary continuation (min 3 months), benefits (min 6 months), accelerated equity vesting through Mar 31.

Key facts

Extracted from this filing and checked against the source text.

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

Definitive Healthcare Corp. announced a restructuring with charges of $2.0 million to $2.5 million (approximately 55 people, or approximately 6 percent of its total workforce).

Type: restructuring
Charge: $2.0 million to $2.5 million
Headcount: approximately 55 people, or approximately 6 percent of its total workforce

Exact text from the filing

The Plan provides for a reduction of the Company’s current workforce by approximately 55 people, or approximately 6 percent of its total workforce. The Company estimates that in the first quarter of 2023 it will incur pre-tax cash restructuring and related charges to its GAAP financial results of approximately $2.0 million to $2.5 million, consisting primarily of severance payments, employee benefits, and related cash expenses, as well as an immaterial non-cash stock-based compensation charge related to the vesting of share-based awards for employees who are terminated.

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

Definitive Healthcare Corp. filing history →

Source: SEC EDGAR

accession 0001193125-23-006944

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