TechTarget Inc - On December 6, 2022 Co Committed To Restructuring Plan - Filing

TechTarget Inc TTGT:

• TECHTARGET INC - ON DECEMBER 6, 2022 CO COMMITTED TO RESTRUCTURING PLAN

• TECHTARGET - PLAN INVOLVES STREAMLINING OPERATIONS OF CERTAIN BUSINESS UNITS WITHIN CO

• TECHTARGET - PLAN INCLUDES ELIMINATION OF APPROXIMATELY 60 POSITIONS, OR APPROXIMATELY 5% OF THE COMPANY’S CURRENT WORKFORCE

• TECHTARGET - ESTIMATES WILL INCUR PRE-TAX RESTRUCTURING AND RELATED CHARGES TO GAAP FINANCIAL RESULTS OF ABOUT $4.5 MILLION TO $5.0 MILLION

• TECHTARGET - EXPECTS PLAN WILL BE SUBSTANTIALLY COMPLETE BY THE END OF THE FIRST QUARTER OF 2023

• TECHTARGET - TO INCUR NON-RECURRING, CASH CHARGES, STOCK-BASED COMPENSATION CHARGE FOR VESTING OF SHARE-BASED AWARDS FOR EMPLOYEES TERMINATED IN Q422