secwatch.observer — SEC 8-K summary
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Issuer:     PagerDuty, Inc. (PD)
CIK:        0001568100
Form:       8-K
Filed at:   2023-11-03T23:59:59+00:00
Accession:  0001568100-23-000053
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PagerDuty amends executive severance policy; CEO Tejada gets enhanced change-in-control terms
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- Tier 2 NEO severance: 0.5x salary+bouns on non-CIC termination; 1.0x + pro-rata bonus + 12-month health on CIC termination.
- CEO Tejada base $600k, target bonus $600k; non-CIC severance 1.0x + $12k + 50% equity vest; CIC 1.5x + full vest.
- Policy three-year term, auto-renew; CIC protection extends 18 months post-consummation.
- Severance payments subject to 280G cutback provision for after-tax benefit.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1568100/000156810023000053/0001568100-23-000053-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1568100/000156810023000053/pd-20231030.htm
  HTML page:      https://secwatch.observer/filing/0001568100-23-000053

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer