DigitalOcean Holdings, Inc. - Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by DigitalOcean Holdings, Inc. on January 14, 2022, covering events occurring on January 13, 2022. The company is an emerging growth company incorporated in Delaware, with its common stock trading on the New York Stock Exchange under the symbol DOCN.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance changes and does not contain financial performance data.
Material Changes
The primary material change reported is the departure of a director. Peter Levine, a member of the Board of Directors since February 2014, notified the Company of his intention not to stand for reelection at the 2022 Annual Meeting of Stockholders. Mr. Levine joined the Board in connection with the Series A investment by Andreessen Horowitz and intends to focus on managing his existing venture investments at that firm.
Management Commentary and Risks
Management explicitly stated that Mr. Levine's decision not to stand for reelection was not due to any disagreement with the Company on any matter relating to its operations, policies, or practices. He will continue to serve on the Board through the date of the Annual Meeting. No other risks, contingencies, or unusual items were disclosed in this filing.
Key Facts for Investor Verification
- Peter Levine will not seek reelection as a director at the 2022 Annual Meeting.
- The departure is voluntary and unrelated to any disagreement with company management or operations.
- Mr. Levine will remain on the Board until the Annual Meeting concludes.
- This filing contains no financial results or updated guidance.