Company: ARVN
Filing Date: 2025-05-01
Form Type: 8-K
Source: 0001655759-25-000081
Chunk: 1

Company: ARVINAS, INC.
Filing Date: 2025-05-01
Form: 8-K
Item: Item 2.05
Chunk 1
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Item 2.05 Costs Associated with Exit or Disposal Activities.

On April 30, 2025, the Company's management, pursuant to authority delegated by the Board of Directors of the Company, committed the Company to and approved a reduction of the Company’s workforce by approximately 33% across all areas of the Company, as part of the Company's decision to streamline operations across the organization and enable the efficient progression of the Company’s portfolio.

The Company expects the workforce reduction will be substantially completed by the end of the second quarter of 2025. The Company expects that it will incur approximately $10 million in costs in connection with the workforce reduction, which consist of severance and other one-time employee termination benefit expenses, which the Company expects to recognize primarily in the second quarter of 2025. The estimate of costs that the Company expects to incur, and the timing thereof, are subject to a number of assumptions and actual results may differ. The Company may also incur other charges or cash expenditures not currently contemplated due to events that may occur as a result of, or associated with, the workforce reduction.

Item 8.01 Other Events.