Hippo Holdings Inc 8-K, filed Oct 26, 2023
Hippo Holdings Inc. (HIPO)
8-K
2023-10-26
For: 2023-10-26
View Original
Added on
April 04, 2026
About this 8-K
Hippo Holdings Inc filed this 8-K on October 26, 2023.
Items reported
- Item 2.05: Exit or restructuring costs
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): October 26, 2023
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Item 2.05 Costs Associated with Exit or Disposal Activities.
To further drive efficiency and increase focus on the strategic priorities of Hippo Holdings Inc. (the “Company”), on October 26, 2023 the Company initiated an organizational realignment, including an involuntary workforce reduction affecting up to approximately 120 employees, which represents approximately 20% of the Company’s worldwide workforce. The Company notified the majority of the affected employees on October 26, 2023, with most job eliminations effective on November 1, 2023. In the fourth quarter of 2023, the Company expects to record charges of approximately $2.2 million to $2.7 million for severance, benefits, and related costs as a result of these actions, materially all of which is expected to result in cash expenditures in the same period. The Company is continuing to review the potential impact of the reduction, including facility lease exits and additional employee related costs, and is unable to estimate any additional restructuring costs or charges at this time. If the Company subsequently determines that it will incur additional material restructuring costs or charges, it will amend this Current Report on Form 8-K with respect to such determination.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
| Exhibit Number | Exhibit Title or Description | ||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | ||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: October 26, 2023
| HIPPO HOLDINGS, INC. | ||||||||
| By: | /s/ STEWART ELLIS | |||||||
| Stewart Ellis | ||||||||
| Chief Financial Officer | ||||||||