secwatch.observer — SEC 8-K summary
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Issuer:     WeWork Inc. (—)
CIK:        0001813756
Form:       8-K
Filed at:   2023-05-16T23:59:59+00:00
Accession:  0001193125-23-146113
Event type: leadership
Sentiment:  neutral
Materiality: 0.70
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

WeWork CEO Sandeep Mathrani resigns; board appoints David Tolley as interim CEO
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- CEO Sandeep Mathrani steps down effective May 26, 2023, not due to any disagreement.
- Board appoints David Tolley as interim CEO; Daniel Hurwitz becomes Chairman and leads search for permanent CEO.
- Tolley's compensation: $229,167/month base salary, $1.5M bonus target, $500K RSUs vesting over six months.
- Company reaffirms Q2 2023 guidance: revenue $840-865M, adjusted EBITDA ($10M)-$15M.
- Under Mathrani, WeWork cut $2.3B in costs and grew revenue to $849M in Q1 2023 from $593M (Q2 2021).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1813756/000119312523146113/0001193125-23-146113-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1813756/000119312523146113/d451919d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-146113

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