Amendment: Sonos Inc. filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits
$SONO
Consumer Electronics/Appliances
Consumer Staples
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K/A
(Amendment No. 1)
CURRENT REPORT
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Explanatory Note
This Amendment No. 1 to Current Report on Form 8-K (this “Form 8-K/A”) amends the Current Report on Form 8-K of Sonos, Inc. (the “Company”) filed with the Securities and Exchange Commission (the "SEC") on January 14, 2025, which reported the elimination of the Chief Product Officer (“CPO”) role, effective as of January 13, 2025 (the “Original Form 8-K”). This Form 8-K/A is being filed solely to provide information called for in Item 5.02(e) of Form 8-K that had not been determined at the time of filing of the Original Form 8-K.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
As previously disclosed, the Company eliminated the CPO role, effective January 13, 2025, and Mr. Bouvat-Merlin, the Company’s CPO, remained employed by the Company as an advisor to the Interim Chief Executive Officer for a mutually agreed transition period.
On March 3, 2025, the Company entered into a Severance Agreement and General Release (the “Severance Agreement”) with Mr. Bouvat-Merlin. Under the Severance Agreement, Mr. Bouvat-Merlin’s employment with the Company terminated February 19, 2025. Subject to Mr. Bouvat-Merlin’s non-revocation of the release of claims in favor of the Company included in the Severance Agreement, Mr. Bouvat-Merlin will receive a cash severance payment in the amount of approximately $200,961, a one-time lump sum payment of $6,500 for outplacement services, subsidized COBRA continuation coverage until July 31, 2025, and accelerated vesting on or about the execution date of the unvested RSUs that would have vested if his employment had continued until May 15, 2025. The Severance Agreement includes intellectual property assignment and non-disparagement provisions and reaffirms the current restrictive covenants to which Mr. Bouvat-Merlin is currently subject.
The foregoing description of the Severance Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Severance Agreement, a copy of which is attached as Exhibit 10.1 hereto and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | |||||
| 10.1 | |||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | ||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| SONOS, INC. | ||||||||
| Date: March 5, 2025 | By: | /s/ Eddie Lazarus | ||||||
Eddie Lazarus Chief Legal and Strategy Officer | ||||||||