---
schema_version: "secwatch.filing_event.v1"
accession: "0001381507-23-000005"
form_type: "8-K"
ticker: null
cik: "0001381507"
company_name: "LIMEADE, INC"
filed_at: "2023-01-11T23:59:59+00:00"
generated_at: "2026-06-20T16:29:52.314234+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Limeade announces 15% headcount reduction, $1.3M in severance, $7M annual savings; CFO resigns

## Summary
- Headcount cut by 15% across R&D, Product, Customer Operations, Customer Success, Marketing and Sales teams.
- One-time severance and benefit costs estimated at $1.3 million; annualized savings of $7.0 million expected.
- CFO Todd Spartz resigns effective January 18, 2023 to pursue other opportunity; search for successor underway.
- Interim CFO duties handled by Controller Paul Crick and outside vendors until permanent CFO is appointed.

## SEC filing metadata
- accession: 0001381507-23-000005
- form_type: 8-K
- cik: 0001381507
- company_name: LIMEADE, INC
- filed_at: 2023-01-11T23:59:59+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/1381507/000138150723000005/0001381507-23-000005-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1381507/000138150723000005/lme-20230111.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001381507-23-000005
- JSON: https://secwatch.observer/filing/0001381507-23-000005.json
- Plain text: https://secwatch.observer/filing/0001381507-23-000005.txt

## Key facts
- Executive change
  Todd Spartz resigned as Chief Financial Officer at LIMEADE, INC.
  - Action: resigned
  - Role: Chief Financial Officer
  source text: Limeade CFO, Mr. Todd Spartz will resign as CFO of the Company, departing January 18th, 2023 to pursue another opportunity in the corporate sector.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1381507/000138150723000005/0001381507-23-000005-index.htm
- Restructurings & Charges
  LIMEADE, INC announced a restructuring with charges of approximately $1.3 million affecting R&D, Product, Customer Operations, Customer Success, Marketing and Sales teams (15%).
  - Type: restructuring
  - Charge: approximately $1.3 million
  - Affected area: R&D, Product, Customer Operations, Customer Success, Marketing and Sales teams
  - Headcount: 15%
  source text: On January 11, 2023, Limeade, Inc. (the "Company") (ASX: LME), an immersive employee well-being company that creates healthy employee experiences, today announced a company restructure that will lower its headcount overall by 15% and restructure its R&D, Product, Customer Operations, Customer Success, Marketing and Sales teams. The one-time costs associated with the reduction in force include severance payments and employee benefits and will involve future cash expenditures. Costs are anticipated to be approximately $1.3 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1381507/000138150723000005/0001381507-23-000005-index.htm

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