Coursera, Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Coursera, Inc. on March 13, 2026. The report discloses the permanent appointment of Michael Foley as Senior Vice President, Chief Financial Officer, and Treasurer, effective March 16, 2026. Mr. Foley transitions from an interim role to a permanent position, continuing to serve as the Company's principal financial and accounting officer.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margin, debt, or liquidity metrics. This report focuses exclusively on executive compensation and appointment details.
Material Changes
The primary material change is the formalization of Mr. Foley's executive role and the execution of a new compensation agreement dated March 13, 2026, which supersedes his prior interim offer letter from November 13, 2025.
Management Commentary, Risks, and Unusual Items
Compensation Structure:
- Base Salary: $475,000 annually.
- Cash Bonus: Target opportunity of 70% of base salary. For 2026 only, a guaranteed minimum bonus of $200,000 is provided, prorated from the effective date.
- Equity Awards:
- 350,000 Restricted Stock Units (RSUs) vesting over four years (25% on Feb 15, 2027, remainder quarterly).
- 350,000 Performance-Based Restricted Stock Units (PSUs) vesting over four years, contingent on financial goals for the year ending December 31, 2026.
- Severance: Mr. Foley is designated as a "Class A Executive" under the Company's Amended and Restated Executive Severance Plan.
Risks and Contingencies: The filing notes that bonus payments are contingent upon continued employment through the applicable payment dates. PSU vesting is subject to the achievement of pre-established financial goals certified by the Human Resources and Compensation Committee.
Investor Verification Checklist
- Verify the full text of the CFO Offer Letter when filed as an exhibit to the Form 10-Q for the quarter ended March 31, 2026.
- Review the specific financial goals tied to the 350,000 PSUs to understand performance hurdles.
- Confirm the terms of the "Class A Executive" designation within the Executive Severance Plan referenced in the 2025 Form 10-K.
- Monitor future filings for any changes to the interim-to-permanent transition timeline or additional compensation adjustments.