---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-008887"
form_type: "8-K"
ticker: null
cik: "0001029744"
company_name: "SONIC FOUNDRY INC"
filed_at: "2024-03-22T23:59:59+00:00"
generated_at: "2026-06-04T08:56:09.085704+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# Sonic Foundry enters receivership; board resigns; shareholders likely get nothing

## Summary
- On March 20, 2024, Sonic Foundry made an Assignment for Benefit of Creditors; receiver appointed by Dane County Circuit Court.
- All $7.0M principal, interest, fees under Burish Note become due; shareholders will not receive distributions.
- Directors Mozden, Murphy, St. Lawrence, Wiegand resigned immediately; no new directors to be appointed.
- Trading in company's securities during receivership is highly speculative; investors could suffer complete loss.

## SEC filing metadata
- accession: 0001437749-24-008887
- form_type: 8-K
- cik: 0001029744
- company_name: SONIC FOUNDRY INC
- filed_at: 2024-03-22T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.03, 2.04, 5.02, 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1029744/000143774924008887/0001437749-24-008887-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1029744/000143774924008887/sofo20240321_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-008887
- JSON: https://secwatch.observer/filing/0001437749-24-008887.json
- Plain text: https://secwatch.observer/filing/0001437749-24-008887.txt

## Key facts
- Debt Financings
  SONIC FOUNDRY INC faced acceleration on loan of $7.0 million with Mark Burish.
  - Instrument: loan
  - Principal: $7.0 million
  - Counterparty: Mark Burish
  - Event: acceleration
  source text: As a result of such event of default, all amounts due under the Burish Note and Security Agreement automatically became due. The Company has approximately $7.0 million of principal, interest and fees outstanding under the Burish Note and Security Agreement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1029744/000143774924008887/0001437749-24-008887-index.htm
- Distress & Bankruptcy
  SONIC FOUNDRY INC entered receivership in Dane County Circuit Court in Wisconsin (petition 2024-03-21).
  - Proceeding: receivership
  - Court: Dane County Circuit Court in Wisconsin
  - Petition: 2024-03-21
  source text: On March 20, 2024, Sonic Foundry gave an Assignment for the Benefit of Creditors to an intended Receiver and the intended Receiver petitioned the Dane County Circuit Court in Wisconsin (the “Court”), to appoint himself as receiver (the “Receiver”) of all assets of Sonic Foundry, Inc. (the “Company”) on March 21, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1029744/000143774924008887/0001437749-24-008887-index.htm
- Executive change
  Wiegand resigned as Director at SONIC FOUNDRY INC.
  - Action: resigned
  - Role: Director
  source text: On March 20, 2024, each of Messrs. Mozden, Murphy, St. Lawrence and Wiegand resigned as members of the Board and as members of all committees effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1029744/000143774924008887/0001437749-24-008887-index.htm
- Executive change
  Mozden resigned as Director at SONIC FOUNDRY INC.
  - Action: resigned
  - Role: Director
  source text: On March 20, 2024, each of Messrs. Mozden, Murphy, St. Lawrence and Wiegand resigned as members of the Board and as members of all committees effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1029744/000143774924008887/0001437749-24-008887-index.htm
- Executive change
  St. Lawrence resigned as Director at SONIC FOUNDRY INC.
  - Action: resigned
  - Role: Director
  source text: On March 20, 2024, each of Messrs. Mozden, Murphy, St. Lawrence and Wiegand resigned as members of the Board and as members of all committees effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1029744/000143774924008887/0001437749-24-008887-index.htm
- Executive change
  Murphy resigned as Director at SONIC FOUNDRY INC.
  - Action: resigned
  - Role: Director
  source text: On March 20, 2024, each of Messrs. Mozden, Murphy, St. Lawrence and Wiegand resigned as members of the Board and as members of all committees effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1029744/000143774924008887/0001437749-24-008887-index.htm

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