Item 2.02 Results of Operations and Financial Condition.
On September 6, 2022, GitLab Inc. (the "Company") issued a press release
announcing its financial results for the fiscal quarter ended July 31, 2022. A
copy of the press release is attached as Exhibit 99.1 to this Current Report on
Form 8-K and is furnished herewith as Exhibit 99.1. The Company also announced
that it would hold a webcast to discuss its financial results for the fiscal
second quarter ended July 31, 2022.
The Company makes reference to non-GAAP financial information in the Company's
press release and the webcast call. A reconciliation of these non-GAAP financial
measures to the comparable GAAP financial measures is contained in the attached
press release.
The information contained herein, including the accompanying Exhibit 99.1
hereto, shall not be deemed "filed" for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to
the liabilities of that section, nor shall it be deemed incorporated by
reference into any filing made by the Company under the Securities Act of 1933,
as amended, or the Exchange Act, regardless of any general incorporation
language in such filings, unless expressly incorporated by specific reference in
such filing.
Item 5.02 Departure of Directors and Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On September 1, 2022, Eric Johnson, our Chief Technology Officer, and the
Company entered into a Service Continuation Agreement, pursuant to which Mr.
Johnson will resign from his position effective October 1, 2022 ("Separation
Date").
Pursuant to the Service Continuation Agreement, and subject to a release of
claims and his provision of consulting services, Mr. Johnson will receive a
monthly payment equal to $32,500 per month commencing October 2, 2022 and ending
on March 31, 2023 (the "Service Period"). Mr. Johnson will also receive for six
(6) months from the Separation Date COBRA along with continued vesting of an
option award granted on March 18, 2021 under the Company's 2015 Equity Incentive
Plan, as amended, during the Service Period. All of Mr. Johnson's other equity
awards will cease vesting on the Separation Date. The foregoing description of
the Service Continuation Agreement is qualified in its entirety by reference to
the complete text of the Service Continuation Agreement, a copy of which will be
filed with the Company's Quarterly Report on Form 10-Q for the nine months
ending October 31, 2022.
Mr. Johnson's resignation did not result from any disagreement with the Company
or any matter relating to its operations, policies, or practices. The Company
thanks Mr. Johnson for his contributions and wishes him well in his future
endeavors.
Additionally, on September 2, 2022, Dale Brown, our Principal Accounting
Officer, notified us of his intent to retire in fiscal year 2024 from the
Company. Mr. Brown's resignation did not result from any disagreement with the
Company or any matter relating to its operations, policies, or practices.
Item 7.01 Regulation FD Disclosure.
On September 6, 2022, the Company posted supplemental investor materials on the
Investors Relations section of its website, available at gitlab.gcs-web.com. The
Company announces material information to the public through filings with the
Securities and Exchange Commission, the investor relations page on the Company's
website, press releases, public conference calls, webcasts, the Company's
Twitter account (@gitlab), the Company's Facebook page, the Company's LinkedIn
page, the Company's news site, available at https://about.gitlab.com/press/ and
blog posts on the Company's corporate blog at https://about.gitlab.com/blog/ in
order to achieve broad, non-exclusionary distribution of information to the
public and for complying with its disclosure obligations under Regulation FD.
The information disclosed by the foregoing channels could be deemed to be
material information. As such, the Company encourages investors, the media and
others to follow the channels listed above and to review the information
disclosed through such channels.
Any updates to the list of disclosure channels through which the Company
announces information will be posted on the investor relations page on the
Company's website.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
99.1 Press Release dated September 6, 2022.
104 Cover Page Interactive Data File (formatted as Inline XBRL).
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