Form 8-K - Current report

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 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 3, 2023

SONOS, INC.

(Exact name of registrant as specified in its charter)



Delaware	001-38603	03-0479476
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

614 Chapala Street

Santa Barbara, California 93101

(Address of principal executive offices, including zip code)

(805) 965-3001

(Registrant’s telephone number, including area code)

Not applicable

(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):


☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.001 par value	SONO	The Nasdaq Stock Market LLC

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).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(b) On October 3, 2023, Sonos, Inc. (the “Company”) announced that Deirdre Findlay has been appointed as the Company’s Chief Commercial Officer, effective October 16, 2023. In connection with her appointment, Ms. Findlay resigned from the Board of Directors of the Company (the “Board”), effective October 3, 2023.

Immediately following Ms. Findlay’s resignation from the Board, the Board decreased its size from seven (7) to six (6) directors. The Company intends to conduct a director search process.

Item 7.01 Regulation FD Disclosure.

The Company’s press release announcing certain management changes, including Ms. Findlay’s appointment as Chief Commercial Officer, is attached as Exhibit 99.1 to this Current Report on Form 8-K.

The information furnished under this Item 7.01, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, regardless of any general incorporation language in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.


Exhibit No.	Description
99.1	Press release dated October 3, 2023.
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.


		SONOS, INC.

Date: October 3, 2023	By:	/s/ Eddie Lazarus
		Eddie Lazarus Chief Financial Officer and Chief Legal Officer

Exhibit 99.1

Preparing for the opportunity ahead, Sonos bolsters Leadership Team

Deirdre Findlay joins as Chief Commercial Officer, Dunja LaRosa joins as Chief Revenue Officer and Maxime Bouvat-Merlin named Chief Product Officer

SANTA BARBARA, Calif. – Oct. 3, 2023 - Sonos, Inc. (Nasdaq: SONO) today introduced new members of its executive management team. Deirdre Findlay joins as its new Chief Commercial Officer with responsibilities spanning all go-to-market and customer experience functions, while Dunja LaRosa joins as Chief Revenue Officer, responsible for overseeing Sonos’ key sales channels, and veteran Sonos executive Maxime Bouvat-Merlin was recently named Chief Product Officer, leading the global product and operations organizations.

“I am excited to welcome this group of highly accomplished executives to these key leadership roles at Sonos,” says Sonos CEO Patrick Spence. “We are adding world class talent across marketing, sales and product, focused on achieving our ambition to be the world’s leading sound experience company. Each will be integral in further strengthening our brand and executing on the opportunity in front of us.”

Deirdre spent the first decade of her career at Digitas, one of the world’s leading marketing agencies, and has since gone on to leadership positions at eBay, Google, Stitch Fix, Conde Nast and McAfee. The consistent thread throughout Deirdre’s career has been driving growth for consumer companies by aligning product stories with cultural trends to reach more consumers. Deirdre lives at the intersection of culture and product, and will drive Sonos’ efforts to reach new audiences. Deirdre served on the Sonos Board of Directors for more than three years, acquiring a deep understanding of the business and the opportunities ahead.

Dunja brings more than 25 years of international sales experience spanning leading consumer electronics brands including Dyson and Sony, with experience at scale across the categories in which Sonos plays today and those it plans to enter in the future.

Max joined Sonos in 2016 and is now responsible for the teams that develop and manufacture its expanding portfolio of software enabled hardware and services. Prior to joining Sonos, Max held executive positions at distinguished technology companies including Quicklogic, Qualcomm Atheros, Broadcom and Texas Instruments.

In connection with her appointment as Chief Commercial Officer, Deirdre resigned from Sonos’ Board of Directors, effective October 3, 2023.

About Sonos

Sonos (Nasdaq: SONO) is one of the world’s leading sound experience brands. As the inventor of multi-room wireless home audio, Sonos’ innovation helps the world listen better by giving people access to the content they love and allowing them to control it however they choose. Known for delivering an unparalleled sound experience, thoughtful home design aesthetic, simplicity of use and an open platform, Sonos makes the breadth of audio content available to anyone. Sonos is headquartered in Santa Barbara, California. Learn more at www.sonos.com.

Investor Contact
James Baglanis

IR@sonos.com

Media Contact
Erin Pategas

PR@sonos.com

Source: Sonos

Document And Entity Information	Oct. 03, 2023
Cover [Abstract]
Document Type	8-K
Document Period End Date	Oct. 03, 2023
Entity Registrant Name	SONOS, INC.
Entity Incorporation, State or Country Code	DE
Securities Act File Number	001-38603
Entity Tax Identification Number	03-0479476
Entity Address, Address Line One	614 Chapala Street
Entity Address, City or Town	Santa Barbara
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	93101
City Area Code	805
Local Phone Number	965-3001
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, $0.001 par value
Trading Symbol	SONO
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false
Entity Central Index Key	0001314727
Amendment Flag	false