Business Context and Reporting Period
This Form 8-K Current Report was filed by Docusign, Inc. on December 10, 2018, covering events that occurred on December 5, 2018. The company is incorporated in Delaware and is classified as an emerging growth company.
Financial Metrics
This filing does not contain financial performance data. There are no disclosures regarding revenue, profit, cash flow, margins, debt, or liquidity in this document.
Material Changes
The report discloses two significant corporate governance and executive leadership changes:
- Board Election: The Board of Directors elected Cynthia Gaylor to serve as a director until her successor is elected or qualified. Her term expires at the 2020 annual stockholders' meeting. She has been appointed to the Audit Committee and is deemed independent under Nasdaq and Exchange Act standards.
- Executive Appointment: The Board appointed Scott V. Olrich as Chief Operating Officer (COO). Mr. Olrich previously served as Chief Strategy and Marketing Officer since April 2017. His prior experience includes roles at Heighten Software, Inc. (acquired by LinkedIn) and Responsys, Inc.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, management commentary on business performance, or discussion of risks and contingencies. It notes that Ms. Gaylor will receive compensation in accordance with the existing Non-Employee Director Compensation Policy and will enter into a standard indemnification agreement. No unusual items or related party transactions were disclosed.
Key Facts for Investor Verification
- Verify the independence status and background of the newly elected director, Cynthia Gaylor.
- Confirm the strategic rationale for promoting Scott V. Olrich to COO and his specific responsibilities.
- Review the attached Exhibit 10.5 (Non-Employee Director Compensation Policy) referenced in the filing for details on Ms. Gaylor's compensation structure.
- Note that this filing is purely informational regarding personnel changes and does not impact the company's financial statements.