Short answer
MAGNITE, INC. (MGNI) filed an 8-K current report with the SEC on September 21, 2026 reporting Item 5.02 (Departure/Election of Directors or Officers), Item EX-99.1 (Exhibit EX-99.1). Brian Gephart promoted from Chief Accounting Officer to CFO and principal financial officer effective October 1, 2026.
MAGNITE, INC. 8-K event analysis
AI summary of each reported item and its exhibits
Item 5.02 · Departure/Election of Directors or Officers
- Brian Gephart promoted from Chief Accounting Officer to CFO and principal financial officer effective October 1, 2026
- CFO appointment includes $2.25M equity award, split 70% RSUs and 30% PSUs
- Haas Sullivan promoted to Chief Accounting Officer and principal accounting officer effective October 1, 2026
- CAO appointment includes approximately $600,000 in RSUs vesting over four years with a one-year cliff
- Enhanced severance and equity-acceleration protections increase executive retention costs, especially following a Sale Transaction
Item EX-99.1 · Exhibit EX-99.1
- Brian Gephart becomes CFO effective October 1, 2026, succeeding retiring CFO David Day
- Internal succession preserves continuity after Gephart’s five years as chief accounting officer
- Gephart assumes responsibility for finance, accounting, reporting, investor relations, treasury, and tax
- Leadership transition coincides with Magnite’s stated focus on scaling its CTV platform and open-internet growth
- No compensation terms or transition-related financial obligations disclosed
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