secwatch.observer — SEC 8-K summary
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Issuer:     DigitalOcean Holdings, Inc. (DOCN)
CIK:        0001582961
Form:       8-K
Filed at:   2024-01-17T23:59:59+00:00
Accession:  0001582961-24-000010
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

DigitalOcean appoints Paddy Srinivasan as CEO effective Feb 12, 2024
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1582961/000158296124000010/0001582961-24-000010-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1582961/000158296124000010/docn-20240111.htm
  HTML page:      https://secwatch.observer/filing/0001582961-24-000010

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