Coursera, Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Coursera, Inc. on September 17, 2026. The report discloses a significant executive leadership change within the company's legal department, specifically the appointment of a new Chief Legal Officer and the departure of the incumbent.
Key Financial Metrics
The filing does not provide financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on executive compensation and appointment details.
Material Changes and Executive Compensation
- Appointment: Tom Savage was appointed as Senior Vice President, Chief Legal Officer, and Corporate Secretary, effective September 21, 2026.
- Departure: Alan Cardenas stepped down as an "officer" under Rule 16a-1(f) effective September 21, 2026. He will remain as Senior Vice President, General Counsel until the end of 2026 to support the transition and is expected to serve as an advisor thereafter.
- Compensation for New Hire:
- Annual Base Salary: $425,000.
- Target Bonus: 60% of base salary, subject to performance conditions.
- Equity Award: One-time new hire award valued at $2,450,000 in Restricted Stock Units (RSUs).
- Vesting Schedule: 50% vests on the first anniversary; the remainder vests quarterly over the subsequent two years.
Outlook, Risks, and Management Commentary
The filing includes no forward-looking guidance, financial outlook, or discussion of material risks and contingencies. Management commentary is limited to the background of the new appointee, Mr. Savage, who previously served as Vice President at IBM and Senior Vice President and General Counsel at Red Hat, Inc.
Key Facts for Investor Verification
- Verify the exact number of RSUs granted to Mr. Savage, as the share count depends on the average stock price during the month of his employment commencement (September 2026) versus the $10.00 floor.
- Review the full text of the "CLO Offer Letter" and the "Amended and Restated Executive Severance Plan" (Exhibit 10.13 to the 2026 10-K/A) for detailed severance and change-in-control provisions.
- Confirm the transition timeline for Alan Cardenas to ensure continuity in legal operations through the end of 2026.