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): January 26, 2024
ALTERYX, INC.
(Exact Name of the Registrant as Specified in Charter)
| Delaware | 001-38034 | 90-0673106 | ||
| (State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
| 17200 Laguna Canyon Road, Irvine, California | 92618 | |
| (Address of Principal Executive Offices) | (Zip Code) |
(888) 836-4274
(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:
| ☐ | 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 |
Name of each exchange on which registered | ||
| Class A Common Stock, $0.0001 par value per share | AYX | New York Stock Exchange |
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 January 24, 2024, Mark Anderson, the Chief Executive Officer (“CEO”) and a member of the Board of Directors (the “Board”) of Alteryx, Inc. (the “Company”), resigned from his role as CEO and as a member of the Board, effective January 26, 2024 (the “Resignation Date”), to pursue other professional opportunities. Mr. Anderson’s resignation was not due to any disagreement with the Company on any matter relating to its operations, policies or practices. In connection with Mr. Anderson’s resignation, the Board decreased the authorized number of directors from nine to eight, effective as of the Resignation Date.
(c)
On January 25, 2024, the Board appointed Kevin Rubin, age 49, and the Company’s existing Chief Financial Officer, to become the Company’s interim CEO, effective as of the Resignation Date. Mr. Rubin will continue to serve as Chief Financial Officer in addition to interim CEO.
Kevin Rubin has served as the Chief Financial Officer of the Company since April 2016. Prior to joining the Company, Mr. Rubin served as Chief Financial Officer of MSC Software Corporation, an enterprise simulation software company, from July 2011 to April 2016. Mr. Rubin has also served as Chief Financial Officer for Pictage, Inc., DataDirect Networks, Inc. and MRV Communications, Inc. Mr. Rubin holds a B.A. in business economics with an emphasis in accounting from the University of California, Santa Barbara. There is no arrangement or understanding between Mr. Rubin and any other person(s) pursuant to which Mr. Rubin was selected as interim CEO. Mr. Rubin is not a party to any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
(e)
In connection with Mr. Rubin’s service as interim CEO and in addition to Mr. Rubin’s current cash compensation, Mr. Rubin will receive (i) a $15,000 bonus for each full calendar month serving as interim CEO (prorated for any partial month) and (ii) at the end of his service as interim CEO, an assignment bonus of $15,000 for each full calendar month served as interim CEO (prorated for any partial month).
| Item 8.01 | Other Events. |
On January 26, 2024, the Company issued a press release relating to this announcement. A copy of the Company’s press release is being furnished as Exhibit 99.1 to this Form 8-K.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
| 99.1 | Press Release dated January 26, 2024. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
| ALTERYX, INC. | ||||||
| Date: January 26, 2024 | By: | /s/ Christopher M. Lal | ||||
| Name: | Christopher M. Lal | |||||
| Title: | Chief Legal Officer and Corporate Secretary | |||||
Exhibit 99.1
FOR IMMEDIATE RELEASE
Alteryx Appoints Kevin Rubin as Interim Chief Executive Officer
IRVINE, Calif., January 26, 2024 – Alteryx, Inc. (NYSE: AYX), the Analytics Cloud Platform company, today announced that its Board of Directors has appointed Kevin Rubin, the Company’s Chief Financial Officer, to serve as Interim Chief Executive Officer. Rubin succeeds Mark Anderson, who has stepped down as CEO and from the Board of Directors to pursue other professional opportunities.
“As we work toward completing our previously announced transaction and prepare to become a private company, we’re grateful to have Kevin at the helm to oversee our operations,” said Dan Warmenhoven, Lead Independent Director of Alteryx. “With over 20 years of leadership experience in scaling global financial operations for growth companies, including eight as Alteryx’s CFO, Kevin possesses the skills and expertise to lead the Company forward during this transitional period.”
“I am pleased to serve as Interim CEO as we continue to build on our strong foundation and capitalize on the momentum in the business,” said Rubin. “Alteryx has a deep bench of talent across the entire organization fueling our innovation and success, and I look forward to continuing to deliver for our customers, employees and stockholders.”
Warmenhoven continued, “We thank Mark for his contributions to Alteryx. Throughout his tenure as CEO, Mark led the Company through key milestones, including our cloud and AI transformation, the COVID-19 pandemic and the transaction announcement in December. We wish Mark well in his future endeavors.”
“It has been a privilege serving on the Alteryx Board of Directors and leading Alteryx as CEO for the last three years,” said Anderson. “I am immensely proud of what our team accomplished together. Alteryx has a remarkable future ahead with Clearlake and Insight, and I look forward to following its continued success.”
With the support of the Company’s finance organization, Rubin will continue to serve as Chief Financial Officer while serving as Interim CEO.
On December 18, 2023, Alteryx announced that it had entered into a definitive agreement to be acquired by Clearlake Capital Group, L.P. and Insight Partners, two global private equity firms. The transaction is expected to close in the first half of 2024, subject to customary closing conditions and approvals, including approval by Alteryx stockholders and the receipt of required regulatory approvals.
About Kevin Rubin
Kevin Rubin is the Chief Financial Officer of Alteryx, responsible for all aspects of its global financial operations, including finance, accounting, tax, treasury, investor relations, corporate development and Alteryx Ventures, and global real estate and workplace services. He brings over 20 years of experience in the industry, leading both public and private technology companies through rapid growth and expansion. Prior to joining Alteryx in 2016, Rubin served as CFO of MSC Software, a private-equity backed software company. In this role, he was responsible for managing MSC through significant transitions, including launching and navigating the company’s shift to a subscription-based model. Prior to joining MSC, Rubin served as CFO for Pictage, DataDirect Networks and MRV Communications. He is a certified public accountant (inactive) in California and holds a bachelor’s degree in business economics with an emphasis in accounting from the University of California, Santa Barbara.
About Alteryx
Alteryx (NYSE: AYX) powers analytics for all with the award-winning Alteryx Analytics Cloud Platform. With Alteryx, enterprises can make intelligent decisions across their organizations with automated, AI-driven insights. More than 8,000 customers globally rely on Alteryx to democratize analytics across use cases and deliver high-impact business outcomes. To learn more, visit http://www.alteryx.com.
Alteryx is a registered trademark of Alteryx, Inc. All other product and brand names may be trademarks or registered trademarks of their respective owners.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the federal securities laws that involve risks and uncertainties, including statements regarding our expectations with respect to the pending acquisition of Alteryx (the “Transaction”) and other future events. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors including, but not limited to: the possibility that the conditions to the closing of the Transaction are not satisfied, including the risk that required approvals from Alteryx’s stockholders for the Transaction or required regulatory approvals to consummate the Transaction are not obtained, on a timely basis or at all; the occurrence of any event, change or other circumstance that could give rise to the right to terminate the Transaction, including in circumstances requiring Alteryx to pay a termination fee; our history of losses; volatile and significantly weakened global economic conditions; our ability to develop, release, and gain market acceptance of product and service enhancements and new products and services to respond to rapid technological change in a timely and cost-effective manner, or if we are unable to develop a successful business model to sell those products and services we have acquired or integrate them into our existing products and services; our dependence on our software platform for a large portion of our revenue; our ability to manage our growth effectively; our ability to attract new customers, expand sales to existing customers, both domestically and internationally, or maintain the subscription amount or subscription term of renewing customers; our ability to establish and maintain successful relationships with our channel partners; intense and increasing competition in our market; the rate of growth in the market for analytics products and services; our dependence on technology and data licensed to us by third parties; risks associated with the expansion of our international operations; our ability to develop, maintain, and enhance our brand and reputation cost-effectively; litigation and related costs; security breaches; the success of our AI initiatives; our indebtedness and risks related to our outstanding notes; and other macroeconomic conditions, including, but not limited to, rising inflation, interest rates, disruptions in access to bank deposits or lending commitments due to bank failures, foreign currency exchange rates, economic uncertainty, and the impacts of geopolitical and other natural and man-made events, like regional conflicts and government shutdowns. Additionally, these forward-looking statements involve risk, uncertainties and assumptions, many of which relate to matters that are beyond our control and changing rapidly.
Additional risks and uncertainties that could affect our financial results are detailed in the periodic reports that Alteryx files with the SEC, including Alteryx’s Annual Report on Form 10-K and Alteryx’s Quarterly Reports on Form 10-Q. All forward-looking statements in this communication are based on information available to Alteryx as of the date of this communication, and Alteryx does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.
Contacts
Media Contact:
Emily Valla
Alteryx, Inc.
pr@alteryx.com
Investor Contact:
Ryan Goodman
Alteryx, Inc
ir@alteryx.com