Company: NCNO
Filing Date: 2025-02-03
Form Type: 8-K
Source: 0001902733-25-000002
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Company: nCino, Inc.
Filing Date: 2025-02-03
Form: 8-K
Item: Item 5.02
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On January 31, 2025, the Board of Directors (the “ Board”) of nCino, Inc. (the “ Company”) appointed Sean Desmond, the Company’s Chief Product Officer, as the Company’s Chief Executive Officer, and appointed Pierre Naudé, the Company’s Chairman and Chief Executive Officer, as the Executive Chairman of the Board, both effective February 1, 2025. On the same date, Mr. Naudé determined to step down as the Company’s Chief Executive Officer, effective February 1, 2025. In addition, on January 31, 2025, the Board also approved an increase in the size of the Board from eight to nine directors, and appointed Mr. Desmond as a Class II Director, effective February 1, 2025. Mr. Desmond will stand for election as a director at the 2025 annual meeting of stockholders.

Mr. Desmond, 52, was appointed Chief Product Officer of the Company on May 1, 2024. He previously served as the Company’s Chief Customer Success Officer from July 2013 until May 1, 2024. Prior to joining the Company, Mr. Desmond held various leadership positions from February 1999 to June 2013 at Informatica, an enterprise cloud data management provider, most recently serving as Vice President, Global Delivery from January 2012 to June 2013. Prior to Informatica, Mr. Desmond served as a Business Analyst at Platinum Technologies (acquired by Computer Associates), a database management software company, from August 1996 to January 1999. Mr. Desmond holds a B. B. A. in Business Administration from James Madison University.

There are no arrangements or understandings between Mr. Desmond and any other persons pursuant to which he was selected as a director, and there are no family relationships between Mr. Desmond and any director or executive officer of the Company. Mr. Desmond has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K. Mr. Desmond will not serve on any committees of the Board or receive any directors’ fees.

Compensation Arrangement with Mr. Desmond

In connection with his appointment as the Company’s President and Chief Executive Officer, Mr. Desmond entered into an amended and restated employment agreement (the “ Am