ChargePoint Holdings Inc.
07/31/2026 | Press release | Distributed by Public on 07/31/2026 15:29
Reorganization, Regulation FD Disclosure (Form 8-K)
Item 2.05 Costs Associated with Exit or Disposal Activities.
On July 29, 2026, ChargePoint Holdings, Inc. (the "Company") implemented a reorganization of its operations including a reduction of the Company's current global workforce by approximately 10% (the "Reorganization"). The Company estimates the aggregate restructuring costs associated with the Reorganization to be approximately $6 million, primarily consisting of severance benefits, employee benefits and related costs and facility-related costs. The Company expects to complete the Reorganization during its third quarter of fiscal year 2027 and to incur these costs primarily during its second and third quarters of fiscal year 2027.
The estimates of the charges and expenditures that the Company expects to incur in connection with the Reorganization, and the timing thereof, are subject to a number of assumptions, including local law requirements in various jurisdictions, and actual amounts may differ materially from estimates. In addition, the Company may incur other charges or cash expenditures not currently contemplated due to unanticipated events that may occur, including in connection with the implementation of the Reorganization.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Mr. John "David" Vice, a current named executive officer of the Company, separated as Chief Revenue Officer, effective July 28, 2026, and is expected to separate from the Company following a four-month transition period to help ensure a smooth transition of his responsibilities. In addition, due to Mr. Vice's qualifying termination of employment under the terms of the Company's Executive Severance Plan, after the end of the transition period and provided Mr. Vice enters into a final general release of claims, Mr. Vice will be eligible to receive severance benefits under the terms of the Executive Severance Plan, as described in the Company's Definitive Proxy Statement filed with the Securities and Exchange Commission (the "SEC") on May 28, 2026.
Item 7.01 Regulation FD Disclosure.
The Company reaffirms its prior guidance that it expects revenue of $100 million to $110 million for its second quarter ended July 31, 2026.
The information contained in this Item 7.01 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended (the "Securities Act") or the Exchange Act, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference in such filing.
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