{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-23-162681","form_type":"8-K","ticker":null,"cik":"0001391127","company_name":"Edgio, Inc.","filed_at":"2023-06-07T23:59:59+00:00","discovered_at":"2026-05-14T18:03:38.674791+00:00","generated_at":"2026-06-14T05:42:16.454059+00:00","sec_items":["2.05","5.08","8.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Edgio approves restructuring plan to cut 12% of workforce; expects $23.7M annual savings","bullets":["Board approved restructuring on June 6, 2023; reduction of ~134 employees (~12% of global workforce) by Q4 2023.","Estimated restructuring charges of ~$3.7 million in cash for severance and health benefits.","Company expects net annual savings of ~$23.7 million from the restructuring plan.","2023 annual meeting delayed; no date set due to pending restatement of financials for Open Edge solution.","In litigation with College Top Holdings, agreed not to enforce certain stockholder agreement provisions for 2023 meeting."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-23-162681","json":"https://secwatch.observer/filing/0001193125-23-162681.json","markdown":"https://secwatch.observer/filing/0001193125-23-162681.md","text":"https://secwatch.observer/filing/0001193125-23-162681.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1391127/000119312523162681/0001193125-23-162681-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1391127/000119312523162681/d497499d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-14T05:42:16.454059+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"5e9ebc1bfcfb526b4715ca807ebee68215212132","claim":"Edgio, Inc. announced a restructuring with charges of approximately $3.7 million (approximately 134 employees, or approximately 12% of the Company's global workforce).","evidence_excerpt":"global workforce, to be implemented through the fourth quarter of 2023 (the “Reduction in Force”). The Company estimates that Restructuring Plan charges will be approximately $3.7 million and will be recorded as restructuring expenses which consist of one-time severance charges and continuation of health benefits. The foregoing estimated charges will be cash","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1391127/000119312523162681/0001193125-23-162681-index.htm","confidence":0.9,"family_label":"Restructurings & Charges","details":[{"label":"Type","value":"restructuring"},{"label":"Charge","value":"approximately $3.7 million"},{"label":"Headcount","value":"approximately 134 employees, or approximately 12% of the Company's global workforce"}],"fact_type":"restructuring_charge"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}