PagerDuty, Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by PagerDuty, Inc. on April 7, 2021, covering events that occurred on April 2, 2021. The company is incorporated in Delaware and trades on the New York Stock Exchange under the symbol "PD".
Key Financial Metrics
The filing does not provide specific financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity. The report focuses exclusively on executive compensation arrangements.
Material Changes
On April 2, 2021, the Company granted Performance Stock Units (PSUs) to its named executive officers under the 2019 Equity Incentive Plan. These awards are subject to a three-year vesting schedule contingent upon achieving a net new annual recurring revenue performance goal for the fiscal year ending January 31, 2022.
| Name | Title | Target PSUs Granted |
|---|---|---|
| Jennifer Tejada | Chief Executive Officer | 48,043 |
| Howard Wilson | Chief Financial Officer | 14,412 |
| David Justice | Executive Vice President, Chief Revenue Officer | 14,412 |
Guidance, Outlook, and Risks
The filing does not contain updated financial guidance, management commentary on market outlook, or specific risk factors beyond the performance conditions attached to the equity awards. The full text of the PSU Award Agreement is intended to be filed as an exhibit to the Quarterly Report on Form 10-Q for the quarter ending April 30, 2021.
Key Facts for Investor Verification
- Verify the specific definition and calculation methodology for the "net new annual recurring revenue" performance goal required for PSU vesting.
- Review the upcoming Form 10-Q for the quarter ending April 30, 2021, to obtain the full PSU Award Agreement.
- Confirm the total number of PSUs granted to executive officers and their impact on future dilution.