Business Context and Reporting Period
This Form 8-K was filed by ZipRecruiter, Inc. on September 7, 2022, reporting a material event occurring on the same date. The company is an emerging growth company incorporated in Delaware with its principal executive offices in Santa Monica, California.
Key Financial Metrics
The filing does not provide specific financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity figures. The report focuses exclusively on the termination of a material definitive agreement.
Material Changes
On September 7, 2022, the Company entered into a Termination of Lease Agreement with Cousins Fund II Phoenix III, LLC regarding office space in Tempe, Arizona. Key details include:
- Premises: Approximately 27,135 rentable square feet located at 40 East Rio Salado, Tempe, Arizona.
- Termination Date: The lease will terminate effective October 31, 2022.
- Terms: The agreement requires the surrender of the premises and removal of specified company property.
- Security Deposit: The letter of credit serving as the security deposit will be terminated within 30 days of the Termination Date.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, or outlook. The primary contingency noted is the execution of the lease surrender and the removal of company property by the October 31, 2022 deadline. The full text of the Lease Termination Agreement is expected to be filed as an exhibit to the Quarterly Report on Form 10-Q for the period ending September 30, 2022.
Investor Verification Checklist
- Verify the final status of the lease termination and property surrender by October 31, 2022.
- Review the upcoming Form 10-Q for the three months ended September 30, 2022, to examine the full text of the Lease Termination Agreement.
- Confirm the release of the letter of credit representing the security deposit within the 30-day post-termination window.