01—Abstract
Summary
Summary of the 8-K filed April 28, 2025. Cited figures are marked; the original filing is the authoritative source.
MongoDB, Inc. (NASDAQ: MDB) announced on April 28, 2025 the appointment of Michael J.
Berry as Chief Financial Officer, effective May 27, 2025. Berry, age 62, most recently served as Executive Vice President and Chief Financial Officer of NetApp, Inc. from March 2020 through May 2025, and previously held CFO roles at McAfee, FireEye, Informatica, IO Data Centers, SolarWinds and i2 Technologies. He will lead the company's accounting, FP&A, treasury and investor relations efforts and partner with senior leadership on long-term strategic and financial objectives.
Under his offer letter, Berry receives a starting annual base salary of $350,000a and a target cash bonus opportunity of 65% of base salary. He will also receive two RSU grants under the 2016 Equity Incentive Plan: a new hire grant valued at approximately $9,000,000 and a sign-on bonus grant valued at approximately $3,000,000, each vesting over four years with 25% vesting after 12 months and the balance in equal quarterly installments. The company also entered into its standard indemnification agreement with him.
The filing states there are no related party transactions reportable under Item 404(a) of Regulation S-K. The company also stated it will report first quarter fiscal 2026 results for the three months ended April 30, 2025 after market close on June 4, 2025, with a conference call at 5:00 p.m.
Eastern Time that day. The 8-K's Exhibit 99.1 press release is furnished under Item 7.01 and is not deemed filed for Section 18 purposes.
02—Key points
Key Highlights
- Michael J. Berry, age 62, appointed Chief Financial Officer effective May 27, 2025
- Berry most recently served as EVP and CFO of NetApp, Inc. from March 2020 through May 2025, and is a board member and audit committee chair of Rapid7, Inc.
- Starting base salary of $350,000 with a target cash bonus of 65% of base salary
- Sign-on equity: new hire RSU grant valued at approximately $9,000,000 and sign-on bonus RSU grant valued at approximately $3,000,000, each vesting over four years
- Berry will lead accounting, FP&A, treasury and investor relations
- First quarter fiscal 2026 results (quarter ended April 30, 2025) to be reported after market close on June 4, 2025
- Offer letter to be filed with the Form 10-Q for the quarter ending April 30, 2025
03—Questions
Frequently Asked Questions
Who is the new CFO and what is his background?
Michael J. Berry, age 62, previously served as EVP and CFO of NetApp, Inc. from March 2020 through May 2025, and as EVP and CFO of McAfee from February 2017 to March 2020. His earlier CFO roles include FireEye, Informatica, IO Data Centers, SolarWinds and i2 Technologies. He holds a B.A. in Finance from Augsburg College and an MBA in Finance from the University of St. Thomas.
When does the new CFO start and what are his core responsibilities?
Berry's appointment is effective May 27, 2025. He will lead MongoDB's accounting, FP&A, treasury and investor relations efforts and partner with other senior leaders on long-term strategic and financial objectives.
What compensation is the new CFO receiving?
Berry's offer letter provides a starting annual base salary of $350,000 and a target cash bonus opportunity of 65% of base salary. He will receive two RSU grants under the 2016 Equity Incentive Plan: a new hire grant valued at approximately $9,000,000 and a sign-on bonus grant valued at approximately $3,000,000. Each vests over four years, with 25% vesting after 12 months and the balance in equal quarterly installments over the remaining 12 quarters. He will also be eligible for the executive benefit and compensation programs.
When will MongoDB report its next quarterly results?
MongoDB will report first quarter fiscal 2026 results for the three months ended April 30, 2025, after U.S. financial markets close on June 4, 2025, with a conference call at 5:00 p.m. Eastern Time the same day.
Are there any related party transactions or family relationships tied to the appointment?
The filing states Berry has no family relationship with any MongoDB officers or directors, was not appointed under any arrangement or understanding with another person, and that there are no related party transactions reportable under Item 404(a) of Regulation S-K.
04—Continue