Business Context and Reporting Period
This Form 8-K Current Report was filed by N-able, Inc. on March 24, 2025. The filing discloses the appointment of a new Principal Accounting Officer effective April 21, 2025.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on executive compensation and appointment details.
Material Changes
The primary material change is the appointment of Christopher Stagno as Group Vice President and Chief Accounting Officer. Tim O'Brien, the current Chief Financial Officer, will continue as Principal Financial Officer but will no longer serve as Principal Accounting Officer.
Management Commentary and Compensation Details
- Base Salary: $315,000 annually.
- Target Bonus: 55% of base salary.
- Sign-on Equity: 25,615 Restricted Stock Units (RSUs) and 25,614 Performance Share Units (PSUs).
- RSU Vesting: 25% on May 15, 2026, with the remainder vesting in quarterly increments of 6.25%.
- PSU Vesting: Performance-based (0% to 200% of target) for fiscal 2025. Earned shares vest in three tranches: one-third upon certification, one-third on February 15, 2027, and one-third on February 15, 2028.
- Severance: In the event of termination without Cause within 12 months of a Change of Control, Mr. Stagno is eligible for 6 months of base salary, unpaid incentives, 6 months of health premium reimbursement, and accelerated vesting of equity awards that would have vested within 12 months.
Investor Verification Checklist
- Verify the effective date of the Chief Accounting Officer transition (April 21, 2025).
- Confirm the specific performance metrics tied to the 25,614 PSUs for fiscal 2025.
- Review the Company's 2021 Equity Incentive Plan for details on PSU calculation and vesting conditions.
- Monitor future filings for any changes to the executive compensation structure or additional departures.