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
CURRENT REPORT
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 19, 2025, Deirdre Findlay, Chief Commercial Officer, informed Sonos, Inc. (the “Company”) that she is resigning from her role, effective March 3, 2025. Ms. Findlay is resigning for personal reasons and there were no disagreements between the Company and Ms. Findlay on any matters relating to the Company’s operations, policies or practices that led to her resignation.
On February 20, 2025, the Company entered into a Transition Agreement (the “Transition Agreement”) with Ms. Findlay pursuant to which Ms. Findlay will provide consulting services, including advice on the Company’s marketing strategy, to the Company until May 18, 2025 (the “Consulting Period”). During the Consulting Period, Ms. Findlay’s stock awards covering shares of Company common stock will continue to vest, and Ms. Findlay will receive subsidized COBRA continuation coverage. The Transition Agreement includes a perpetual confidentiality provision as well as provisions relating to mutual non-disparagement and non-solicitation of employees, clients, and vendors that apply during the Consulting Period, reaffirms the current restrictive covenants to which Ms. Findlay is currently subject and contains a release of claims in favor of the Company.
The foregoing description of the Transition Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Transition 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: February 24, 2025 | By: | /s/ Eddie Lazarus | ||||||
Eddie Lazarus Chief Legal and Strategy Officer | ||||||||