---
schema_version: "secwatch.filing_event.v1"
accession: "0001582961-23-000044"
form_type: "8-K"
ticker: "DOCN"
cik: "0001582961"
company_name: "DigitalOcean Holdings, Inc."
filed_at: "2023-08-24T23:59:59+00:00"
generated_at: "2026-06-11T04:11:23.137000+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# DigitalOcean CEO Yancey Spruill to step down once successor found; Warren Adelman appointed Executive Chairman

## Summary
- CEO Yancey Spruill to step down once successor appointed; will continue as CEO in transition.
- Board formed Search Committee, retained Spencer Stuart executive search firm.
- Warren Adelman appointed Executive Chairman; receives $162,500/mo salary and $975,000 stock option grant.
- Company reaffirms Q3 and FY2023 financial outlook provided on August 11, 2023.

## SEC filing metadata
- accession: 0001582961-23-000044
- form_type: 8-K
- ticker: DOCN
- cik: 0001582961
- company_name: DigitalOcean Holdings, Inc.
- filed_at: 2023-08-24T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1582961/000158296123000044/0001582961-23-000044-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1582961/000158296123000044/docn-20230824.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001582961-23-000044
- JSON: https://secwatch.observer/filing/0001582961-23-000044.json
- Plain text: https://secwatch.observer/filing/0001582961-23-000044.txt

## Key facts
- Executive change
  Warren Adelman was appointed as Executive Chairman at DigitalOcean Holdings, Inc..
  - Action: appointed
  - Role: Executive Chairman
  source text: The Company also announced that Warren Adelman, who has served on the Board since 2020 and as lead independent director since 2022, has been appointed Executive Chairman of the Board, effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1582961/000158296123000044/0001582961-23-000044-index.htm
- Executive change
  Yancey Spruill departed as Chief Executive Officer at DigitalOcean Holdings, Inc..
  - Action: to step down
  - Role: Chief Executive Officer
  source text: Yancey Spruill will continue to serve as the Company’s Chief Executive Officer and a member of the board of directors of the Company (the “Board”) until a successor has been appointed, or upon such other date determined by the Board or an earlier resignation by Mr. Spruill upon thirty days’ notice after the four-month anniversary of date of the Separation Agreement (as defined below).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1582961/000158296123000044/0001582961-23-000044-index.htm

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