Cerence announces foreign ops restructuring ($7.2-7.9M charges); retention pact for EVP Schanz

Cerence Inc.

Restructuring plan for foreign operations to reduce costs; estimated cash charges $7.2-7.9M, mostly severance.
Majority of charges expected in Q1 FY2026; plan substantially complete by end of Q1 FY2026.
Retention bonus of $350K for EVP Nils Schanz, repayable if resigns or terminated for cause before Aug 25, 2026.
Schanz also receives $2M equity award: 50% time-based RSUs vesting over 3 years, 50% PSUs tied to FY2026-2028 performance metrics.

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