---
schema_version: "secwatch.filing_event.v1"
accession: "0001326732-25-000032"
form_type: "8-K"
ticker: "XNCR"
cik: "0001326732"
company_name: "Xencor Inc"
filed_at: "2025-03-05T23:59:59+00:00"
generated_at: "2026-05-25T09:41:52.938323+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Xencor dismisses RSM as auditor over material weaknesses; appoints KPMG

## Summary
- RSM dismissed Feb 27, 2025; KPMG appointed effective Mar 3, 2025.
- Material weaknesses in controls over non-routine royalty sale accounting and tax legislation led to restatement of FY2023 and Q1-Q3 2024 financials.
- RSM recalled its 2023 audit opinions and interim reviews; internal control reports flagged weaknesses.
- Additional material weakness in impairment analysis of Zenas equity investment was remediated by Q3 2024.
- No disagreements with RSM; company requested letter to SEC, not yet received.

## SEC filing metadata
- accession: 0001326732-25-000032
- form_type: 8-K
- ticker: XNCR
- cik: 0001326732
- company_name: Xencor Inc
- filed_at: 2025-03-05T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 4.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1326732/000132673225000032/0001326732-25-000032-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1326732/000132673225000032/xncr-20250227.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001326732-25-000032
- JSON: https://secwatch.observer/filing/0001326732-25-000032.json
- Plain text: https://secwatch.observer/filing/0001326732-25-000032.txt

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