MAGNITE, INC. 8-K

What Happened
Magnite, Inc. (MGNI) announced on April 7, 2026 (Form 8-K filed April 10, 2026) that Adam Soroca will cease serving as the company’s Chief Product Officer effective April 8, 2026. Mr. Soroca will remain employed as an advisor through May 15, 2026. The filing states he is entitled to severance benefits under his Executive Severance and Vesting Acceleration Agreement, as described in Magnite’s Proxy Statement for the 2025 Annual Meeting filed with the SEC on April 16, 2025.

Key Details

• Announcement date: April 7, 2026; Form 8-K filed April 10, 2026.
• Effective date of CPO departure: April 8, 2026.
• Transition role: advisor through May 15, 2026.
• Severance: benefits payable under the Executive Severance and Vesting Acceleration Agreement (details referenced in the Proxy Statement filed April 16, 2025); no specific dollar amounts disclosed in the 8-K.

Why It Matters
This is a material executive change (Item 5.02) affecting Magnite’s product leadership. For investors, the key facts are the immediate leadership change, the short advisory transition, and a referenced severance arrangement that could affect near-term compensation expense. The 8-K does not disclose severance amounts or a replacement timeline—watch for follow‑up filings, press releases, or proxy disclosures for details on financial impact and who will lead product strategy going forward.