secwatch.observer — SEC 8-K summary
======================================

Issuer:     DigitalOcean Holdings, Inc. (DOCN)
CIK:        0001582961
Form:       8-K
Filed at:   2023-08-24T23:59:59+00:00
Accession:  0001582961-23-000044
Event type: leadership
Sentiment:  neutral
Materiality: 0.75
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1582961/000158296123000044/0001582961-23-000044-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1582961/000158296123000044/docn-20230824.htm
  HTML page:      https://secwatch.observer/filing/0001582961-23-000044

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