---
schema_version: "secwatch.filing_event.v1"
accession: "0001448056-23-000015"
form_type: "8-K"
ticker: null
cik: "0001448056"
company_name: "NEW RELIC, INC."
filed_at: "2023-04-03T23:59:59+00:00"
generated_at: "2026-06-17T06:54:44.878374+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# New Relic commits to restructuring plan, expects $40M-$45M in lease termination costs

## Summary
- Board approved restructuring on March 29, 2023 to reduce global real estate footprint.
- Expected aggregate charges of $40M-$45M, primarily for real estate lease termination and associated costs.
- Approximately 65% of charges are non-cash; remainder cash expenditures.
- Majority of restructuring costs expected in Q4 fiscal 2023.
- Company says plan will provide operating flexibility and position for long-term success.

## SEC filing metadata
- accession: 0001448056-23-000015
- form_type: 8-K
- cik: 0001448056
- company_name: NEW RELIC, INC.
- filed_at: 2023-04-03T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 2.05
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1448056/000144805623000015/0001448056-23-000015-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1448056/000144805623000015/newr-20230329.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001448056-23-000015
- JSON: https://secwatch.observer/filing/0001448056-23-000015.json
- Plain text: https://secwatch.observer/filing/0001448056-23-000015.txt

## Key facts
- Restructurings & Charges
  NEW RELIC, INC. announced a restructuring with charges of approximately $40 million to $45 million affecting global real estate footprint.
  - Type: restructuring
  - Charge: approximately $40 million to $45 million
  - Affected area: global real estate footprint
  source text: On March 29, 2023, the Board of Directors of New Relic, Inc. (the "Company") committed to a restructuring plan in connection with reduction of its global real estate footprint in line with its Flex First philosophy. The Company expects to incur aggregate restructuring charges totaling approximately $40 million to $45 million, consisting primarily of real estate lease termination and other associated costs.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1448056/000144805623000015/0001448056-23-000015-index.htm

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