---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-169162"
form_type: "8-K"
ticker: null
cik: "0001760173"
company_name: "SURGALIGN HOLDINGS, INC."
filed_at: "2023-06-20T23:59:59+00:00"
generated_at: "2026-06-13T21:32:11.408175+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Surgalign cuts 25 jobs, eliminates CCO role; gives CEO/CFO retention bonuses as part of restructuring

## Summary
- Workforce reduction of 25 employees expected to save $3.5M annually; one-time severance charge of $242K in Q2 2023.
- Chief Commercial Officer William S. Durall's position eliminated; transitions to consultant for 4 months at $33K/month.
- CEO Terry Rich receives $550K retention bonus; CFO Dave Lyle receives $350K, with clawback if terminated before Dec 31, 2023 or restructuring completion.
- Rich and Lyle eligible for additional incentive bonuses up to $550K and $350K respectively, tied to restructuring milestones.

## SEC filing metadata
- accession: 0001193125-23-169162
- form_type: 8-K
- cik: 0001760173
- company_name: SURGALIGN HOLDINGS, INC.
- filed_at: 2023-06-20T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.05, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1760173/000119312523169162/0001193125-23-169162-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1760173/000119312523169162/d377677d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-169162
- JSON: https://secwatch.observer/filing/0001193125-23-169162.json
- Plain text: https://secwatch.observer/filing/0001193125-23-169162.txt

## Key facts
- Executive change
  William S. Durall departed as Chief Commercial Officer at SURGALIGN HOLDINGS, INC..
  - Action: departed
  - Role: Chief Commercial Officer
  source text: On June 12, 2023, the Company eliminated the position of Chief Commercial Officer, effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1760173/000119312523169162/0001193125-23-169162-index.htm
- Restructurings & Charges
  SURGALIGN HOLDINGS, INC. announced a restructuring with charges of one-time charge of approximately $242,000 in the second quarter of 2023 related to the reduction in workforce affecting workforce reduction (termination of approximately 25 employees).
  - Type: restructuring
  - Charge: one-time charge of approximately $242,000 in the second quarter of 2023 related to the reduction in workforce
  - Affected area: workforce reduction
  - Headcount: termination of approximately 25 employees
  source text: on June 16, 2023, Surgalign Holdings, Inc. (the “Company, authorized a reduction in workforce which will result in the termination of approximately 25 employees, effective June 16, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1760173/000119312523169162/0001193125-23-169162-index.htm

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