01—Abstract
Summary
Summary of the 8-K filed October 15, 2026. Cited figures are marked; the original filing is the authoritative source.
MongoDB, Inc. (MDB) filed this Form 8-K on October 15, 2026 under Item 5.02 to disclose compensation arrangements for two executives.
Dev Ittycheria, who was appointed Interim President and Chief Executive Officer effective September 28, 2026, entered into an employment agreement on October 14, 2026, effective as of September 28, 2026. It provides an annual base salary of $500,000,a a one-time sign-on cash bonus of $500,000, and a target cash bonus of 70% of base salary ($350,000), prorated for fiscal year 2027 and, if applicable, fiscal year 2028. He will also receive restricted stock units with a grant value of $15,000,000, vesting in four equal quarterly installments from January 1, 2027 through October 1, 2027.
The agreement supersedes his prior advisory agreement, and he is required to provide continuous service through at least April 1, 2028. Severance terms include 12 months of base salary continuation and up to 18 months of COBRA premium payments upon a termination without cause or for good reason, subject to a release of claims. Enhanced change-in-control protections apply within three months before or 12 months after a change in control, including 12 months of cash-eligible target bonus and full accelerated vesting of time-based equity awards.
Chief Financial Officer Michael Berry also received a one-time retention award approved by the Compensation Committee on October 12, 2026, and executed a Retention Agreement on October 14, 2026. He will receive service-vesting RSUs with a grant value of $10,000,000,b vesting in three equal installments on April 1, 2027, October 1, 2027, and April 1, 2028, with full vesting upon a termination without cause or for good reason.
02—Key points
Key Highlights
- Dev Ittycheria, Interim President and CEO since September 28, 2026, has an employment agreement with a $500,000 base salary and a $500,000 sign-on cash bonus.
- Ittycheria's target annual cash bonus is 70% of base salary ($350,000), prorated for fiscal year 2027 and, if applicable, fiscal year 2028.
- Ittycheria will receive RSUs with a $15,000,000 grant value, vesting in four equal quarterly installments through October 1, 2027.
- The employment agreement supersedes his prior advisory agreement dated October 29, 2025, which will have no further force or effect.
- Ittycheria must provide continuous service for at least 12 months after a new CEO's start date, and such service will not end before April 1, 2028.
- CFO Michael Berry received a one-time retention award of service-vesting RSUs with a $10,000,000 grant value, vesting in three equal installments from April 1, 2027 to April 1, 2028.
- Both executive agreements include severance and change-in-control protections, with the full text of each agreement to be filed with the Form 10-Q for the quarter ending October 31, 2026.
03—Questions
Frequently Asked Questions
Who is leading MongoDB as CEO, and when did that begin?
Dev Ittycheria was appointed Interim President and Chief Executive Officer effective September 28, 2026, as previously disclosed in an 8-K filed on September 28, 2026.
What compensation does the interim CEO receive?
Ittycheria receives a $500,000 annual base salary, a one-time $500,000 sign-on cash bonus, a target cash bonus of 70% of base salary ($350,000) prorated based on service, and RSUs with a $15,000,000 grant value vesting quarterly through October 1, 2027.
What severance protections apply to the CEO?
On termination without cause or for good reason, subject to a release of claims, Ittycheria receives 12 months of base salary continuation and up to 18 months of COBRA premium payments. If termination occurs within three months before or 12 months after a change in control, he also receives 12 months of cash-eligible target bonus, prorated bonus, and accelerated vesting of time-based and performance-based equity awards.
Why did the CFO receive a retention award?
The filing states that the Compensation Committee approved a one-time retention award to CFO Michael Berry on October 12, 2026, and that he executed a Retention Agreement on October 14, 2026. The filing does not state the specific reason for the award.
Where can investors find the full terms of these agreements?
The filing states that copies of the Employment Agreement and the Retention Agreement will be filed with the Company's Quarterly Report on Form 10-Q for the quarter ending October 31, 2026, and that the 8-K summaries are qualified in their entirety by those documents.
04—Continue