secwatch.observer — SEC 8-K summary
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Issuer:     Olo Inc. (—)
CIK:        0001431695
Form:       8-K
Filed at:   2023-06-14T23:59:59+00:00
Accession:  0001193125-23-166570
Event type: leadership
Sentiment:  positive
Materiality: 0.80
Item codes: 2.05, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Olo appoints Joanna Lambert COO, cuts 11% staff, reiterates Q2/FY23 guidance
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- Workforce reduction of ~11% (81 employees) to reorganize business units; expects $7.5M-$10M in charges in Q2 2023.
- Appoints Joanna Lambert as COO effective July 5, 2023; she will oversee operations, R&D, and growth strategy.
- New COO compensation: $550K salary, 60% bonus target, $5M new-hire RSU (4-yr vest), $500K sign-on RSU (1-yr vest).
- Reaffirms Q2 and FY2023 revenue and Non-GAAP operating income guidance (in line with May 9, 2023 outlook).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1431695/000119312523166570/0001193125-23-166570-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1431695/000119312523166570/d479942d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-166570

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