{"schema_version":"secwatch.filing_event.v1","accession":"0001628280-22-031915","form_type":"8-K","ticker":null,"cik":"0001391127","company_name":"Edgio, Inc.","filed_at":"2022-12-14T23:59:59+00:00","discovered_at":"2026-05-14T18:03:50.417112+00:00","generated_at":"2026-06-21T04:39:36.562581+00:00","sec_items":["2.05","5.02"],"event_type":"other_material","sentiment":"negative","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Edgio approves restructuring plan cutting 10% of workforce; Chief Growth Officer Armstrong to depart Dec 31","bullets":["Board approves restructuring plan to cut ~95 employees (~10% of global workforce) through Q2 2023.","Estimated restructuring charges of $2.6M; expects $14.0M in net annual savings.","Chief Growth Officer Eric Armstrong to leave Dec 31, 2022; CEO Bob Lyons to assume duties.","Armstrong gets 12-month base salary severance, 2022 bonus, health benefits; equity unvested forfeited."],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-22-031915","json":"https://secwatch.observer/filing/0001628280-22-031915.json","markdown":"https://secwatch.observer/filing/0001628280-22-031915.md","text":"https://secwatch.observer/filing/0001628280-22-031915.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1391127/000162828022031915/0001628280-22-031915-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1391127/000162828022031915/llnw-20221213.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-21T04:39:36.562581+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"c46af70321","claim":"Eric Armstrong departed as Chief Growth Officer at Edgio, Inc..","evidence_excerpt":"On December 14, 2022, Eric Armstrong and the Company entered into a Separation and Release Agreement (the “ Agreement ”), whereby Mr. Armstrong will leave his position as the Company’s Growth Officer on December 31, 2022","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1391127/000162828022031915/0001628280-22-031915-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"leave"},{"label":"Role","value":"Chief Growth Officer"}],"fact_type":"executive_change"},{"claim_id":"f2842c5bc2067eaa7c7e92d09d39017a5d8b321f","claim":"Edgio, Inc. announced a restructuring with charges of approximately $2.6 million (approximately 95 employees, or approximately 10% of the Company’s global workforce).","evidence_excerpt":"On December 13, 2022, the Board of Directors (the \"Board\") of Edgio, Inc. (the \"Company\") approved a restructuring plan (the “Restructuring Plan”) in order to reduce its operating costs as part of its transformational initiative to optimize its business model and increase efficiencies. The Restructuring Plan is anticipated to entail a reduction in force of approximately 95 employees, or approximately 10% of the Company’s global workforce, to be implemented through the second quarter of 2023 (the “Reduction in Force”). The Company estimates that Restructuring Plan charges will be approximately $2.6 million and will be recorded as restructuring expenses which consist of one-time severance charges and continuation of health benefits.","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1391127/000162828022031915/0001628280-22-031915-index.htm","confidence":0.9,"family_label":"Restructurings & Charges","details":[{"label":"Type","value":"restructuring"},{"label":"Charge","value":"approximately $2.6 million"},{"label":"Headcount","value":"approximately 95 employees, or approximately 10% of the Company’s global workforce"}],"fact_type":"restructuring_charge"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}