secwatch.observer — SEC 8-K summary
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Issuer:     Edgio, Inc. (—)
CIK:        0001391127
Form:       8-K
Filed at:   2022-12-14T23:59:59+00:00
Accession:  0001628280-22-031915
Event type: other_material
Sentiment:  negative
Materiality: 0.60
Item codes: 2.05, 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Edgio approves restructuring plan cutting 10% of workforce; Chief Growth Officer Armstrong to depart Dec 31
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1391127/000162828022031915/0001628280-22-031915-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1391127/000162828022031915/llnw-20221213.htm
  HTML page:      https://secwatch.observer/filing/0001628280-22-031915

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