# EDGAR Filing Document

**Accession Number:** 0001834494
**File Stem:** 0001834494-23-000015
**Filing Date:** 2023-2
**Character Count:** 12295
**Document Hash:** af2f38f4489ec6bf64349dd6bd678b0d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001834494-23-000015.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001834494-23-000015

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20230224

**ITEM INFORMATION**: Cost Associated with Exit or Disposal Activities

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MeridianLink, Inc.
- **CENTRAL INDEX KEY:** 0001834494
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-PREPACKAGED SOFTWARE [7372]
- **IRS NUMBER:** 824844620
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40680
- **FILM NUMBER:** 23678265

**BUSINESS ADDRESS:**
- **STREET 1:** 3560 HYLAND AVE STE 200
- **CITY:** COSTA MESA
- **STATE:** CA
- **ZIP:** 92626
- **BUSINESS PHONE:** 866-417-3274

**MAIL ADDRESS:**
- **STREET 1:** 3560 HYLAND AVE STE 200
- **CITY:** COSTA MESA
- **STATE:** CA
- **ZIP:** 92626

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Project Angel Parent, LLC
- **DATE OF NAME CHANGE:** 20201202

?xml version="1.0" ? mlnk-20230224

    

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 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): **February 24, 2023**

**MeridianLink, Inc.**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-40680** | **82-4844620** |
| (State or other jurisdiction<br>of incorporation) | (Commission <br>File Number) | (IRS Employer<br>Identification No.) |

---

**3560 Hyland Avenue, Suite 200**

**Costa Mesa, CA 92626**

(Address of principal executive offices and Zip Code)

**(714) 708-6950**

(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:

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

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

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

☐&nbsp;&nbsp;&nbsp;&nbsp;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:

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| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock, par value $0.001 per share | MLNK | The 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. ☐

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**Item 2.05 Costs Associated with Exit or Disposal Activities.**

On February 24, 2023, the Board of Directors (the "Board") of MeridianLink, Inc. (the "Company") authorized a restructuring plan (the "Plan") that is designed to consolidate the Company's functions and investments to prioritize customer-centric areas of the Company's organization, align teams with the Company's highest business priorities, and improve efficiencies. The Plan includes a reduction of the Company's current workforce by approximately 9%.

The Company estimates that it will incur charges of approximately $2.5 million to $3.5 million in connection with the Plan, consisting primarily of cash expenditures and relating to employee severance payments, employee benefits, and employee transition costs.

The actions associated with the workforce reduction under the Plan are expected to be substantially complete by the end of the first quarter of 2023, subject to local law and consultation requirements.

The estimates of the charges and expenditures that the Company expects to incur in connection with the Plan, and timing thereof, are subject to a number of assumptions, including local law requirements in various jurisdictions, and actual amounts may differ from the estimates discussed above.

**Item 7.01 Regulation FD Disclosure.**

On February 28, 2023, Nicolaas Vlok, chief executive officer of the Company, sent a communication to Company employees. A copy of this communication is furnished as Exhibit 99.1 and is incorporated by reference herein.

The information contained in this Item 7.01 of this Current Report on Form 8-K, including the Exhibit 99.1 attached hereto, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

**Forward-Looking Statements**

This Current Report on Form 8-K contains statements which are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Generally, these statements can be identified by the use of words such as "anticipates," "believes," "estimates," "expects," "intends," "may," "plans," "projects," "seeks," "should," "will," and variations of such words or similar expressions, although not all forward-looking statements contain these identifying words. Further, statements describing our strategy, outlook, guidance, plans, intentions, or goals are also forward-looking statements. These forward-looking statements reflect our predictions, expectations, or forecasts, including, but not limited to, statements regarding our restructuring plan, including expected or contemplated timing, benefits, and costs associated with the restructuring plan. Actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control including, without limitation, the risk that the restructuring costs and charges may be greater than anticipated or incurred in different periods than anticipated; the risk that the Company's restructuring efforts may adversely affect the Company's internal programs and the Company's ability to recruit and retain skilled and motivated personnel, and may be distracting to employees and management; the risk that the Company's restructuring efforts may negatively impact the Company's business operations and reputation with or ability to serve customers; the risk that the Company's restructuring efforts may not generate their intended benefits to the extent or as quickly as anticipated, as well as those risks set forth in Item 1A. Risk Factors, or elsewhere, in our Annual Report on Form 10-K for the most recently ended fiscal year, any updates in our Quarterly Reports on Form 10-Q filed for periods subsequent to such Form 10-K, and our other SEC filings. These forward-looking statements are based on reasonable assumptions as of the date hereof. The plans, intentions, or expectations disclosed in our forward-looking statements may not be achieved, and you should not rely upon forward-looking statements as predictions of future events. We undertake no obligation, other than as required by applicable law, to update any forward-looking statements, whether as a result of new information, future events, or otherwise.

------

**Item 9.01 Financial Statements and Exhibits.**

(d) Exhibits

---

| | |
|:---|:---|
| **<u>Exhibit No.</u>** | **<u>Exhibit Description</u>** |
| 99.1 | <u>[Communication to MeridianLink, Inc. employees from Nicolaas Vlok on February 28, 2023.](exhibit991-2282023form8xkc.htm)</u> |
| 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.

---

| | | |
|:---|:---|:---|
| | MERIDIANLINK, INC. | MERIDIANLINK, INC. |
| Date: February 28, 2023 |  |  |
|  | By: | /s/ Sean Blitchok |
|  |  | Sean Blitchok |
|  |  | Chief Financial Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

To: MeridianLink Employees

From: Nicolaas Vlok

Date: February 28, 2023

Team MLNK,

MeridianLink has grown and transformed extraordinarily over the last several years. While it has been an exciting time in many ways, we now find ourselves at an inflection point where we must solidify our foundation to support company growth and best serve our customers. That's why we have made the difficult decision to reduce the size of our team by about 9%.

All employees will receive an email within the next 15 minutes about the status of their role. Impacted employees will also receive a Teams invitation for a call with management and HR to go over transition and severance details.

We did not make this decision lightly, and we want to be transparent in sharing how we got here and what is next for MeridianLink.

**<u>Restructuring</u>**

At MeridianLink, we are dedicated to customer service and success. That dedication means making focused decisions to ensure that our areas of investment drive innovation, customer expansion, and long-term company growth.

To that end, we carefully looked at our departments and products to prioritize customer-centric investment areas. As a result, MeridianLink is consolidating functions to flatten our organizational structure and simplify how we get work done. We believe this change will improve efficiencies and better match our current business needs.

**<u>Caring for Our Team</u>**

It is difficult to say goodbye to our teammates who made significant contributions to our company. We are communicating and supporting each impacted employee with dignity and respect.

Departing employees will be offered the following support through their separation agreements:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Eight weeks of severance pay, plus two additional weeks for every completed year of service, up to a total of 26 weeks of severance pay;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Up to three months of paid benefit continuation through COBRA; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Career support with coaching through Lee Hecht Harrison (LHH), an outplacement agency dedicated to this process.

**<u>Looking Toward the Future</u>**

Ultimately, our decision marks an investment in our future as an organization. We believe these changes, while difficult today, will enable us to efficiently deliver on our business objectives and grow in the right areas.

We are keenly aware of the challenges presented by macroeconomic trends, but we are optimistic about the future. We are one team, and we are laser-focused on creating even better experiences for our customers, our partners, and each other.

In times of change, it's natural to have questions or feel uncertain. During these times, it is helpful to focus on what is not changing. We remain true to our vision and mission, and we will continue to invest in building and maintaining strong customer relationships.

Over the next few days, we'll discuss these changes at the team level, and more broadly in our Company Update meeting. In the meantime, please reach out to your manager, HR, or me with any questions.

Best,

Nicolaas

<br>