SentinelOne, Inc 8-K, filed Apr 7, 2022
SentinelOne, Inc. (S)
8-K
2022-04-07
For: 2022-04-06
View Original
Added on
April 10, 2026
About this 8-K
SentinelOne, Inc filed this 8-K on April 7, 2022, reporting on events of April 6, 2022.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 9.01: Financial statements and exhibits
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): April 6, 2022
(Exact name of registrant as specified in its charter)
_____________________________________________________________________________________________
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Registrant’s telephone number, including area code: (855 ) 868-3733
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(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
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Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
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Item 5.02 Departures of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On April 6, 2022, (the “Effective Date”) the Board of Directors (the “Board”) of SentinelOne, Inc. (the “Company”) appointed Nicholas Warner, the Company’s current Chief Operating Officer to the role of President, Security and Vats Srivatsan as the Chief Operating Officer of the Company, effective as of April 4, 2022.
Prior to joining the Company, Mr. Srivatsan, aged 55, served as President and Chief Operating Officer at ColorTokens Inc., from April 2021 to April 2022 and in various leadership roles at Palo Alto Networks, Inc. (“PANW”), a global cybersecurity company, including most recently as Chief Strategy Officer from January 2019 to March 2021. Prior to joining PANW, Mr. Srivatsan served as Managing Director, Business Operations & Strategy at Google Cloud, a cloud computing services company, from October 2015 to January 2019. Mr. Srivatsan holds a Bachelor of Technology from the Indian Institute of Technology, Bombay, a M.S. in Manufacturing Engineering from Boston University, and a Ph.D. in Operations Research from the Massachusetts Institute of Technology.
In connection with his appointment, the Company entered into an offer letter with Mr. Srivatsan (the “Offer Letter”). The Offer Letter does not have a specific term and provides that Mr. Srivatsan will serve as an at-will employee. Pursuant to the Offer Letter, Mr. Srivatsan is entitled to receive (i) an annual base salary of $450,000 and (ii) an opportunity to earn an annual cash bonus of $450,000.
Subject to the terms and conditions of the Company's 2021 Equity Incentive Plan and the forms and awards thereunder, the Board also approved on the Effective Date a restricted stock unit (“RSU”) award with an aggregate value of $15 million (the “Aggregate RSU Value”). The number of shares of the Company's Class A common stock subject to the award is calculated as follows: the Aggregate RSU Value divided by the fair market value of one share of the Company's Class A common stock on the date of grant. Twenty-five (25%) of the RSU shall vest on the first Vesting Date (as defined below) following the one-year anniversary of April 4, 2022 (the “First Vesting Date”), and 1/16th of the RSU will vest on each third Vesting Date following the First Vesting Date. Vesting Date is defined as the fifth (5th) day of each month.
Mr. Srivatsan is also entitled to certain payments and benefits on termination of employment or upon a termination in connection with a change of control. In the event he is terminated without “cause” or resigns for “good reason” within three months before or twelve months following a “change of control” of the Company, he will be entitled to: (i) an amount equal to twelve months of his base salary and his then-current annual target bonus, in each case at the rate in effect immediately prior to such termination, payable in a cash lump-sum and (ii) to the extent Mr. Srivatsan timely elects to receive continued coverage under the Company's group-healthcare plans, the Company will continue to pay the employer portion of his premium payments for such continued coverage for a period ending on the earlier of (x) twelve months following the termination date and (y) the date that he becomes eligible for coverage under another employer’s plans. In addition, Mr. Srivatsan’s equity awards, excluding awards that would otherwise vest contingent upon remaining-unsatisfied performance criteria, will become vested and exercisable, as applicable, with respect to 100% of the underlying shares. All such severance payments and benefits will be subject to Mr. Srivatsan’s execution of a general release of claims against us.
Additionally, in the event that Mr. Srivatsan is terminated without “cause” or resigns for “good reason” outside of a “change of control,” he will be entitled to (i) an amount equal to six months of his base salary at the rate in effect immediately prior to such termination, payable in a cash lump-sum and (ii) to the extent he timely elects to receive continued coverage under the Company's group-healthcare plans, the Company will continue to pay the employer portion of his premium payments for such continued coverage for a period ending on the earlier of (x) six months following the termination date and (y) the date that he becomes eligible for coverage under another employer’s plans. All such severance payments and benefits will be subject to Mr. Srivatsan’s execution of a general release of claims against us.
There are no family relationships between Mr. Srivatsan and any director or executive officer of the Company and no transaction involving Mr. Srivatsan that would require disclosure under Item 404(a) of Regulation
S-K promulgated under the Securities Exchange Act of 1934, as amended. In connection with his appointment, the Company will enter into its standard form of Indemnification Agreement with Mr. Srivatsan.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit Number | Exhibit 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.
| SENTINELONE, INC. | ||||||||||||||
| Date: April 7, 2022 | By: | /s/ David Bernhardt | ||||||||||||
| David Bernhardt | ||||||||||||||
| Chief Financial Officer | ||||||||||||||
EXHIBIT 99.1
SentinelOne Promotes Nicholas Warner to President, Vats Srivatsan Joins as COO
New Roles Driven by Continued Company Growth, Strategy for Long-Term Success
Mountain View, Calif. – April 7, 2022 – SentinelOne (NYSE: S), an autonomous cybersecurity platform company, today announced that Chief Operating Officer Nicholas Warner has been promoted to President, Security and Vats Srivatsan has been appointed Chief Operating Officer. The new appointments reflect SentinelOne’s continued growth, increasing scale, and strategic vision for long-term success.
“We are at a critical and exciting point in our company’s evolution with tremendous growth opportunities ahead,” said Tomer Weingarten, CEO, SentinelOne. “It’s incredible what Nick has accomplished since joining the team - elevating his role to President reflects my trust in his ability to lead us to new places in cybersecurity. Our momentum, our industry presence, and our differentiation have never been stronger. I’m pleased to welcome Vats Srivatsan as COO, leading our global expansion, growth, and operational alignment as we scale to the next level. I’m confident that Nick’s promotion and Vats’ appointment positions SentinelOne for future evolution and growth.”
Warner joined SentinelOne as Chief Revenue Officer in 2017 and was promoted to Chief Operating Officer in 2019. Warner built the company’s global sales organization and subsequently led all go-to-market functions as well as represented the company in its landmark IPO. In his President role, Nick will continue to provide complete focus in building, growing, and delivering customer-first cybersecurity. “I couldn’t be more proud of SentinelOne’s journey since joining in 2017 - and am excited about our bright future securing the world’s largest and leading organizations from the evolving threat landscape. Vats will be an important addition to our team as we continue to grow and expand the company’s scope” said Warner.
Vats brings more than 30 years of professional experience to SentinelOne, including a deep understanding of cloud and growth transformations. Notably, Vats served as Chief Strategy Officer at Palo Alto Networks, where he played a critical role in the strategic transformation of the company from a single product to a multi-platform business. Most recently, Vats was President and Chief Operating Officer at ColorTokens, a zero trust security startup. Vats also served as Managing Director, Business Operations at Google Cloud and Corporate Vice President at Motorola Mobility, a Google Company. Vats was a core member of the team that architected Google’s cloud strategy, the commercial engine that scaled to a multi-billion dollar cloud business. Prior, Vats was a Partner at McKinsey & Company for more than 11 years where he co-founded the tech/media/telecom practice focused on F100 CxO business transformation initiatives.
“Few companies have achieved the growth that I've seen SentinelOne accomplish over the past few years,” said Srivatsan. “I am incredibly excited to join Tomer and the SentinelOne leadership team to help scale and expand further as a public company while focusing on what SentinelOne does best - delivering autonomous cybersecurity, powered by data."
About SentinelOne
SentinelOne’s cybersecurity solution encompasses AI-powered prevention, detection, response and hunting across endpoints, containers, cloud workloads, and IoT devices in a single autonomous platform.
Press Contact
Jake Schuster
fama PR for SentinelOne
E: S1@famapr.com
Investor Contact
Doug Clark
SentinelOne, Inc.
E: investors@sentinelone.com
Source String: SentinelOne
Category: Investors