Company: NCNO
Filing Date: 2025-02-03
Form Type: 8-K
Source: 0001902733-25-000002
Chunk: 1

Company: nCino, Inc.
Filing Date: 2025-02-03
Form: 8-K
Item: Item 5.02
Chunk 1
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ended Desmond Agreement”) with the Company through its operating subsidiary, nCino OpCo, Inc. The Amended Desmond Agreement is generally consistent with Mr. Desmond’s existing employment agreement, except that the Amended Desmond Agreement provides for (i) an increase to Mr. Desmond’s annual base salary to $500,000; (ii) an increase to Mr. Desmond’s target annual bonus opportunity equal to 100% of his annual base salary, with the actual payment amount to be determined upon the satisfaction of goals and objectives established by the Compensation Committee of the Board, and subject to such other terms and conditions of the annual cash bonus program maintained for senior executive officers of the Company (the “ Annual Incentive Program”); and (iii) an equity incentive opportunity with a target grant date fair value equal to $8.2 million for the Company’s fiscal year 2026. In addition, the Amended Desmond Agreement provides that, in the event that Mr. Desmond’s employment is terminated by the Company without “ Cause” or by Mr. Desmond for “ Good Reason” (each as defined in the Amended Desmond Agreement), in each case, prior to a “ Change in Control” (as defined in the Amended Desmond Agreement) or more than 18 months following a Change in Control, then, among other things, Mr. Desmond’s outstanding equity awards will vest upon such termination to the extent that the normal vesting date for such awards would have occurred within 24 months of such termination of employment (increased from 12 months), subject to his execution and non-revocation of a release of claims in favor of the Company.

Compensation Arrangement with Mr. Naudé

In connection with his appointment as Executive Chairman of the Company, Mr. Naudé entered into a letter agreement with the Company (the “ Naudé Letter Agreement”), which provides for an initial term expiring on February 1, 2026, which term will automatically renew for additional one-year increments until either party provides 30 days’ prior written notice of non-renewal to the other party. Pursuant to the Naudé Letter Agreement, while serving as Executive Chairman, Mr. Naudé will be eligible (i) to receive an annual base salary of $260,000, (ii) to participate in the Annual Incentive Program, with a target annual bonus opportunity of $260,000 for the Company’s fiscal year 2026, with the actual payment amount to be determined upon the satisfaction of goals and