secwatch.observer — SEC 8-K summary
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Issuer:     Snap Inc (SNAP)
CIK:        0001564408
Form:       8-K
Filed at:   2022-07-21T23:59:59+00:00
Accession:  0001564590-22-026167
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 2.02, 5.02, 5.03, 5.07, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Snap Q2 revenue +13% to $1.11B, net loss widens to $422M; $500M buyback, special dividend tied to $40 stock
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- Q2 revenue $1.111B (+13% YoY); net loss $422M vs $152M loss in prior year; adjusted EBITDA $7M down 94%.
- DAUs reached 347M (+18% YoY); Spotlight time spent grew 59% YoY.
- Board authorized $500M stock repurchase program over 12 months.
- Special dividend of one Class A share per common share, conditioned on 65-day VWAP ≥$40 (deadline July 21, 2032).
- Co-founders Spiegel and Murphy sign employment agreements through Jan 2027 with $1 salary, no equity grants; agree to convert super-voting shares on dividend sales.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1564408/000156459022026167/0001564590-22-026167-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1564408/000156459022026167/snap-8k_20220719.htm
  HTML page:      https://secwatch.observer/filing/0001564590-22-026167

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