UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

~~Washington~~WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(dD) ~~OF THE~~

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): December 4 20, 2024

SecureWorks Corp.

(Exact name of registrant as specified in its charter)

Delaware

001-37748

27-0463349

~~001-37748~~

~~27-0463349~~

(State or other jurisdiction of incorporation)

(Commission File Number)

(I.R.S. Employer Identification No.)

~~(Commission File Number)~~

~~(I.R.S. Employer Identification No.)~~

One Concourse Parkway NE

Suite 500

Atlanta,

Georgia

30328

(Address of principal executive offices)

(Zip Code)

One Concourse Parkway NE

Suite 500

Atlanta, Georgia

30328

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code: (404) 327-6339

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:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	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:

Title of each class	Trading Symbol(s)	~~Trading Symbol(s)~~	Name of each exchange on which registered	~~Name of each exchange on which registered~~
Class A Common Stock,		SCWX		The Nasdaq Stock Market LLC
Class A Common Stock, par value $0.01 per share	SCWX		The Nasdaq Stock Market LLC (Nasdaq Global Select Market)
par value $0.01 per share				(Nasdaq Global Select Market)

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. ☐

Item 25.02 ~~Results~~. Departure of ~~Operations~~Directors ~~and~~or ~~Financial~~Certain ~~Condition~~Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

OnAs ~~December 4~~previously disclosed, on October 21, 2024, SecureWorks Corp., a Delaware corporation (the “Company” or “we,” “us,” or “our”), ~~issued~~entered ainto ~~press~~an ~~release~~Agreement ~~announcing~~and ~~its~~Plan ~~financial~~of ~~results~~Merger ~~for~~(the ~~its~~“Merger ~~fiscal~~Agreement”) ~~quarter~~with ~~ended~~Sophos ~~November 1~~Inc., a ~~2024~~Massachusetts corporation (“Parent”) and Project Green Merger Sub, Inc., Aa ~~copy~~Delaware corporation and a wholly owned subsidiary of ~~the~~Parent ~~press~~(“Merger ~~release~~Sub” isand ~~furnished~~together aswith ~~Exhibit~~Parent, 99the “Buyer Parties”).1 Pursuant to ~~this~~the Merger ~~report~~Agreement, Merger Sub will merge with and into the Company, with the Company continuing as the surviving corporation and becoming a wholly owned subsidiary of Parent (the “Merger”). The Buyer Parties are affiliates of investment funds managed by Thoma Bravo, L.P.

In ~~accordance~~connection with ~~General~~the ~~Instruction~~proposed Merger, ~~B.2~~Alpana ~~to Form 8-K~~Wegner, the ~~information~~Company’s ~~contained~~Chief inFinancial ~~this report~~Officer, ~~including~~may ~~Exhibit~~become ~~99.1~~entitled ~~hereto,~~to isreceive ~~being~~or ~~“furnished”~~retain ~~with~~payments ~~the Securities~~ and ~~Exchange~~benefits ~~Commission~~that may ~~and~~be ~~shall~~treated ~~not~~as be“excess ~~deemed~~parachute ~~“filed~~payments” ~~for~~within ~~purposes~~the meaning of Section 18280G of the ~~Securities~~Internal ~~Exchange~~Revenue ~~Act~~Code of ~~1934~~1986, as amended, or(the ~~otherwise~~“Code”). ~~subject~~To tomitigate the ~~liabilities~~potential ~~under~~impact ~~such~~of ~~section.~~Sections ~~Furthermore,~~280G ~~such~~and ~~information~~4999 ~~shall~~of ~~not~~the beCode ~~deemed~~on tothe beCompany ~~incorporated~~and byMs. Wegner, ~~reference~~on inDecember ~~any~~20, ~~filing~~2024, ~~under~~the Compensation Committee of the ~~Securities~~Company’s ~~Act~~board of ~~1933~~directors approved, assubject ~~amended,~~to orMs. Wegner’s timely execution of a letter agreement that sets forth the ~~Securities~~terms ~~Exchange~~described ~~Act~~below, acceleration of ~~1934,~~certain asrestricted ~~amended,~~stock ~~unless~~units ~~specifically~~that are ~~identified~~solely assubject ~~being~~to ~~incorporated~~time-based ~~therein~~vesting byconditions ~~reference.~~(“RSUs”) previously awarded to her (the “Accelerated RSUs”).

~~Item~~These 9actions are intended to mitigate the potential impacts of Sections 280G and 4999 of the Code on the Company and Ms.~~01 Financial~~ ~~Statements~~Wegner, including to preserve potential compensation-related corporate income tax deductions for the Company that might otherwise be disallowed through the operation of Section 280G of the Code and to ~~Exhibits~~mitigate or eliminate the amount of excise tax that may be payable by Ms. Wegner pursuant to Section 4999 of the Code.

~~(d) Exhibits.~~ The ~~following~~Compensation ~~documents~~Committee ~~are~~of the ~~herewith~~Company’s ~~furnished~~board orof ~~filed~~directors asapproved ~~exhibits~~the following Accelerated RSUs (rounded to ~~this~~the ~~report~~nearest share) for Ms. Wegner: 91,914 RSUs that were originally scheduled to vest on March 18, 2025. Upon the Compensation Committee’s approval, the Company and Ms. Wegner, on December 20, 2024, timely executed a letter agreement under the terms described above.

Exhibit No.						Exhibit Description
99.1						Press release of SecureWorks Corp. dated December 4, 2024.
104						Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document, which is contained in Exhibit 101).

In all cases, if Ms. Wegner resigns without good reason or her employment is terminated by the Company for cause, in each case, prior to the date the Accelerated RSUs otherwise would have vested (including as a result of any accelerated vesting upon termination of employment and change in control treatment), she will be obligated to promptly repay to the Company an after-tax amount equal to the number of Accelerated RSUs multiplied by the closing price of a share of the common stock, par value $0.01 per share, of the Company on the date of settlement of the Accelerated RSUs.

2Cautionary Statement Regarding Forward-Looking Statements

~~SIGNATURES~~This communication includes certain disclosures which contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), including but not limited to those statements related to the Merger, including statements as to the expected timing, completion and effects of the Merger. In most cases, you can identify these statements by forward-looking words such as “anticipate,” “believe,” “confidence,” “could,” “estimate,” “expect,” “guidance,” “intend,” “may,” “plan,” “potential,” “outlook,” “should,” and “would,” or similar words or expressions that refer to future events or outcomes. These forward-looking statements, including statements regarding the Merger, are based largely on information currently available to our management and our management’s current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from historical results or those expressed or implied by such forward-looking statements. Although we believe our expectations are based on reasonable estimates and assumptions, they are not guarantees of performance. There is no assurance that our expectations will occur or that our estimates or assumptions will be correct, and we caution investors and all others not to place undue reliance on such forward-looking statements.

~~Pursuant~~Important factors, risks and uncertainties that could cause actual results to differ materially from such plans, estimates or expectations include but are not limited to: (i) the ~~requirements~~completion of the Merger on the ~~Securities~~anticipated ~~Exchange~~terms ~~Act~~and timing, including obtaining regulatory approvals, and the satisfaction of ~~1934~~other conditions to the completion of the Merger; (ii) potential litigation relating to the Merger that could be instituted against the Company or its directors, managers or officers, including the ~~registrant~~effects of ~~has~~any ~~duly~~outcomes ~~caused~~related ~~this~~thereto; ~~report~~(iii) the risk that disruptions from the Merger (including the ability of certain customers to terminate or amend contracts upon a change of control) will harm the Company’s business, including current plans and operations, including during the pendency of the Merger; (iv) the ability of the Company to retain and hire key personnel, including those with extensive information security expertise; (v) the diversion of management’s time and attention from ordinary course business operations to completion of the proposed transaction and integration matters; (vi) potential adverse reactions or changes to business relationships resulting from the announcement or completion of the Merger; (vii) legislative, regulatory and economic developments; (viii) potential business uncertainty, including changes to existing business relationships, during the pendency of the Merger that could affect the Company’s financial performance; (ix) certain restrictions during the pendency of the Merger that may impact the Company’s ability to pursue certain business opportunities or strategic transactions; (x) unpredictability and severity of catastrophic events, including but not limited to acts of terrorism, outbreaks of war or hostilities or the COVID-19 pandemic and other public health issues, as well as management’s response to any of the aforementioned factors; (xi) the impact of inflation, rising interest rates, and global conflicts, including disruptions in European economies as a result of the Ukrainian/Russian conflict and the ongoing conflicts in the Middle East, the relationship between China and Taiwan and ongoing trade disputes between the United States and China; (xii) the possibility that the Merger may be ~~signed~~more expensive to complete than anticipated, including as a result of unexpected factors or events; (xiii) the ability to obtain the necessary financing arrangements set forth in the commitment letter received in connection with the Merger; (xiv) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger, including in circumstances requiring the Company to pay a termination fee; (xv) the risk that the Company’s stock price may decline significantly if the Merger is not consummated; (xvi) there may be liabilities that are not known, probable or estimable at this time or unexpected costs, charges or expenses; and (xvii) those risks and uncertainties set forth under the headings “Cautionary Note Regarding Forward Looking Statements” and “Risk Factors” in the Company’s most recent Annual Report on ~~its~~Form ~~behalf~~10-K, as such risk factors may be amended, supplemented or superseded from time to time by other reports filed by the ~~undersigned~~Company ~~hereunto~~with ~~duly~~the ~~authorized~~Securities and Exchange Commission (the “SEC”) from time to time, which are available via the SEC’s website at www.sec.gov.

Date:	December 4, 2024	SecureWorks Corp.
		By:	/s/ Alpana Wegner
			Alpana Wegner
			Chief Financial Officer
			(Duly Authorized Officer)

There can be no assurance that the Merger will be completed, or if it is completed, that it will close within the anticipated time period. The forward-looking statements relate only to events as of the date on which the statements are made. The Company does not undertake to update, and expressly disclaims any obligation to update, any of its forward-looking statements, whether resulting from circumstances or events that arise after the date the statements are made, new information, or otherwise. If one or more of these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, our actual results may vary materially from what we may have expressed or implied by these forward-looking statements. We caution that you should not place undue reliance on any of our forward-looking statements. You should specifically consider the factors identified in this communication that could cause actual results to differ. Furthermore, new risks and uncertainties arise from time to time, and it is impossible for us to predict those events or how they may affect the Company.

3Important Additional Information and Where to Find It

This communication is being made in connection with the pending Merger. The Company has filed a definitive information statement on Schedule 14C (the “Information Statement”) with respect to the Merger and mailed the Information Statement to its stockholders. This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. STOCKHOLDERS ARE URGED TO READ THE INFORMATION STATEMENT AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN, OR WILL CONTAIN, IMPORTANT INFORMATION ABOUT THE PENDING MERGER. Stockholders may obtain, free of charge, copies of such documents filed by the Company with the SEC in connection with the Merger at the SEC’s website (http://www.sec.gov). In addition, the Company’s stockholders may obtain, free of charge, copies of such documents filed by the Company at the Company’s website (investors.secureworks.com) or by e-mailing the Company’s Investor Relations department at investorrelations@secureworks.com. Alternatively, these documents can be obtained free of charge from the Company upon written request by mail to SecureWorks Corp., Investor Relations, One Concourse Parkway NE, Suite 500, Atlanta, Georgia 30328.

SIGNATURE

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.

	SecureWorks Corp.


Date: December 23, 2024	By:	/s/ George Hanna
	Name:	George Hanna
	Title:	Chief Legal and Administrative Officer
		(Duly Authorized Officer)

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