Brief: TechTarget Inc - On December 6, 2022 Co Committed To Restructuring Plan - Filing

TechTarget

09/12/2022 21:42

Dec 9 (Reuters) - TechTarget Inc  TTGT.O :
    * TECHTARGET INC - ON DECEMBER 6, 2022 CO COMMITTED TO
RESTRUCTURING PLAN
    * TECHTARGET - PLAN INVOLVES STREAMLINING OPERATIONS OF
CERTAIN
BUSINESS UNITS WITHIN CO
    * TECHTARGET - PLAN INCLUDES ELIMINATION OF APPROXIMATELY 60
POSITIONS, OR APPROXIMATELY 5% OF THE COMPANY’S CURRENT
WORKFORCE
    * TECHTARGET - ESTIMATES WILL INCUR PRE-TAX RESTRUCTURING
AND
RELATED CHARGES TO GAAP FINANCIAL RESULTS OF ABOUT $4.5 MILLION
TO $5.0 MILLION
    * TECHTARGET - EXPECTS PLAN WILL BE SUBSTANTIALLY COMPLETE
BY THE
END OF THE FIRST QUARTER OF 2023
    * TECHTARGET - TO INCUR NON-RECURRING, CASH CHARGES,
STOCK-BASED
COMPENSATION CHARGE FOR VESTING OF SHARE-BASED AWARDS FOR
EMPLOYEES TERMINATED IN Q422

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