---
schema_version: "secwatch.filing_event.v1"
accession: "0001582961-24-000010"
form_type: "8-K"
ticker: "DOCN"
cik: "0001582961"
company_name: "DigitalOcean Holdings, Inc."
filed_at: "2024-01-17T23:59:59+00:00"
generated_at: "2026-06-06T22:34:26.431001+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# DigitalOcean appoints Paddy Srinivasan as CEO effective Feb 12, 2024

## Summary
- Srinivasan receives $600k base salary, 100% target bonus, and $17M RSU with 4-year vest.
- PRSU valued at $8M vests on stock price targets: $65, $100, $135, $170 over 5 years.
- Outgoing CEO Yancey Spruill departs as of February 12, 2024.
- Srinivasan was CEO of GoTo ($1B+ revenue SaaS) and previously at Amazon, Microsoft, and Oracle.
- New CEO will participate in Q4 2023 earnings call on Feb 21, 2024.

## SEC filing metadata
- accession: 0001582961-24-000010
- form_type: 8-K
- ticker: DOCN
- cik: 0001582961
- company_name: DigitalOcean Holdings, Inc.
- filed_at: 2024-01-17T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1582961/000158296124000010/0001582961-24-000010-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1582961/000158296124000010/docn-20240111.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001582961-24-000010
- JSON: https://secwatch.observer/filing/0001582961-24-000010.json
- Plain text: https://secwatch.observer/filing/0001582961-24-000010.txt

## Key facts
- Executive change
  Yancey Spruill departed as Chief Executive Officer at DigitalOcean Holdings, Inc..
  - Action: departed
  - Role: Chief Executive Officer
  source text: as of the Employment Date, Mr. Spruill will depart from the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1582961/000158296124000010/0001582961-24-000010-index.htm
- Executive change
  Padmanabhan Srinivasan was appointed as Chief Executive Officer at DigitalOcean Holdings, Inc..
  - Action: appointed
  - Role: Chief Executive Officer
  source text: On January 11, 2024, DigitalOcean Holdings, Inc. (the “Company”) entered into an employment agreement with Padmanabhan Srinivasan (the “Srinivasan Agreement”) to serve as Chief Executive Officer of the Company, effective as of the commencement of his employment, which is currently expected to be on or around February 12, 2024 (the “Employment Date”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1582961/000158296124000010/0001582961-24-000010-index.htm

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