---
schema_version: "secwatch.filing_event.v1"
accession: "0001666071-22-000149"
form_type: "8-K"
ticker: "CDLX"
cik: "0001666071"
company_name: "Cardlytics, Inc."
filed_at: "2022-11-14T23:59:59+00:00"
generated_at: "2026-06-21T20:32:43.269257+00:00"
event_type: "leadership"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Cardlytics terminates 51 employees; Executive Chairman Grimes and Director Laube resign; Balen named Chairman

## Summary
- Reduction in force of 51 employees; estimated $1.1M in severance and related costs, substantially incurred in Q4 2022.
- Executive Chairman Scott Grimes resigns; 51,117 RSUs accelerated to vest by Nov 18, 2022; other equity forfeited.
- Director and Advisor Lynne Laube resigns; 65,372 RSUs accelerated to vest by Nov 18, 2022; other equity forfeited.
- John V. Balen appointed Chairman of the Board, effective Nov 12, 2022, succeeding Grimes.

## SEC filing metadata
- accession: 0001666071-22-000149
- form_type: 8-K
- ticker: CDLX
- cik: 0001666071
- company_name: Cardlytics, Inc.
- filed_at: 2022-11-14T23:59:59+00:00
- event_type: leadership
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.05, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1666071/000166607122000149/0001666071-22-000149-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1666071/000166607122000149/cdlx-20221108.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001666071-22-000149
- JSON: https://secwatch.observer/filing/0001666071-22-000149.json
- Plain text: https://secwatch.observer/filing/0001666071-22-000149.txt

## Key facts
- Executive change
  Lynne Laube resigned as Advisor to the Chief Executive Officer and Director at Cardlytics, Inc..
  - Action: resigned
  - Role: Advisor to the Chief Executive Officer and Director
  source text: On November 11, 2022, Lynne Laube resigned from all positions with the Company, including but not limited to that of Advisor to the Chief Executive Officer and Director of the Board of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1666071/000166607122000149/0001666071-22-000149-index.htm
- Executive change
  John V. Balen was appointed as Board Chairman at Cardlytics, Inc..
  - Action: appointed
  - Role: Board Chairman
  source text: the Board also approved the appointment of Board member John V. Balen as Board Chairman, effective immediately
  evidence_url: https://www.sec.gov/Archives/edgar/data/1666071/000166607122000149/0001666071-22-000149-index.htm
- Executive change
  Scott D. Grimes resigned as Executive Chairman at Cardlytics, Inc..
  - Action: resigned
  - Role: Executive Chairman
  source text: On November 11, 2022, Scott D. Grimes resigned from all positions with the Company, including but not limited to that of the Executive Chairman of the Board of Directors (the "Board") of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1666071/000166607122000149/0001666071-22-000149-index.htm
- Restructurings & Charges
  Cardlytics, Inc. announced a restructuring with charges of approximately $1.1 million (51 employees).
  - Type: restructuring
  - Charge: approximately $1.1 million
  - Headcount: 51 employees
  source text: On November 8, 2022, Cardlytics, Inc. (the “Company”) committed to and effectuated a plan of termination of 51 employees. This decision was based on cost-reduction initiatives intended to reduce operating expenses and allow the Company to focus on key growth priorities. The Company currently estimates that it will incur charges of approximately $1.1 million in connection with the reduction in force, primarily consisting of severance payments, employee benefits and related costs.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1666071/000166607122000149/0001666071-22-000149-index.htm

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