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S&P 500 Technology Sector SEC Filings — March 25, 2026

USA S&P 500 Technology

13 high priority12 medium priority25 total filings analysed

Executive Summary

Across 25 filings in the USA S&P 500 Technology intelligence stream (despite sector mix including non-tech), proxy statements dominate (12/25) signaling AGM season kickoff with May 2026 meetings, emphasizing governance enhancements like board refreshment at Century Communities and Cadence. Financial results show mixed trends: revenue growth in standouts like Adobe (+12% YoY to $6.4B subscription-driven) and Lafayette Square (+50% investment income to $84.7M), contrasted by declines in Dyadic (-12% YoY revenue) and Planet 13 (-11.2% FY revenue). Capital returns remain robust with $144M buybacks at Century Communities, $2.5B repurchases at Adobe, and $0.25 quarterly dividend at Dime Community. Leadership transitions emerge as a theme in tech-relevant names: Adobe CEO Shantanu Narayen stepping down (search underway), TXN SVP retirement, and Muzinich funds' C-suite overhaul. Period-over-period, 4/7 key financial filers posted YoY revenue growth (avg +17%), but margins mixed with Planet 13 improving to 38.6% yet EBITDA flipping to loss; non-tech outliers like Century Communities highlight operational efficiencies (costs -13k/home). Tech sector implications: Adobe's strength and Micron's debt tender signal balance sheet optimization amid AI/semiconductor cycles, positioning for H2 catalysts.

Tracking the trend? Catch up on the prior S&P 500 Technology Sector SEC Filings digest from March 24, 2026.

Investment Signals(10)

  • 2025 revenues $4.1B, net income $147.6M ($4.86/share), book value +5% YoY to $89.21, 10,792 units delivered, $178M dividends + $144M repurchases, costs -13k/home

  • Adobe(BULLISH)

    Q1 FY2026 revenue +12% YoY to $6,398M (subscriptions +13%), net income +4% to $1,889M ($4.60 EPS), op cash flow +19% to $2,958M, $2,478M buybacks

  • Total assets +30% YoY to $1.0B, investment income +50% to $84.7M, portfolio cos doubled to 54, distributions since inception $72.4M (+92%)

  • Net income turnaround to $2.8M profit from $1.3M loss YoY, NII +6% to $13.3M, NIM expanded to 3.26%, capital ratio +107 bps to 16.67%

  • Declared quarterly dividend $0.25/share (payable Apr 24, record Apr 17), signaling sustained shareholder returns

  • Robust governance with independent chair, 10/11 indep directors, CEO 3x salary stock ownership guideline, pay-vs-performance disclosures

  • Planet 13(BULLISH)

    Q4 gross margin +140 bps YoY to 44.6%, FY net loss narrowed significantly (ex-impairment), new FL dispensaries opened Oct 2025

  • Net new contracts 10,326, lot pipeline 60,916, 94% affordable homes <FHA limits, net debt/capital 25.9%

  • Adobe(BULLISH)

    Total assets stable ~$29.7B QoQ, cash +17% QoQ to $6.3B despite buybacks, Creative segment +12% YoY

  • Grant revenue +$1.86M YoY, R&D costs -50% to $0.6M, commercial launches (AlbuFree, DNase I), cash $8.6M

Risk Flags(8)

  • Dyadic International (10-K/8-K)[HIGH RISK]

    FY2025 revenue -12% YoY to $3.09M, net loss widened to $7.36M from $5.81M, op loss +22% to $7.19M, cash -8% to $8.59M

  • Planet 13 (10-K/8-K)[HIGH RISK]

    FY2025 revenue -11.2% YoY to $103.4M, gross profit -28.9% to $39.9M (margin -960 bps to 38.6%), Adj EBITDA loss $10.1M vs +$4.8M profit, assets -26% to $152M

  • Nonperforming assets +316% YoY to $11.4M (2.65% of assets), provision for losses +426% to $831k, deposits -2% YoY, CRE loans +10% to 20.1% portfolio

  • Expenses >2x YoY to $49.1M (interest costs surge), yield -7% to 10.6%, EBITDA/company -10% to $20M, floating rate debt -10% to 85.4%

  • Adobe[MEDIUM RISK]

    Product revenue -5% YoY, services/other -19% YoY, op expenses +13% YoY to $3.3B, equity -2% QoQ to $11.4B

  • History of net losses, customer concentration, need for capital, no dividends expected, stock volatility

  • Planet 13[MEDIUM RISK]

    Federal cannabis risks, competition in FL/NV, reliance on Co-CEOs, $50.8M VidaCann acquisition debt

  • SVP Hagop Kozanian retirement Aug 31 2026, no successor named, potential disruption

Opportunities(8)

Sector Themes(6)

  • Proxy Season Acceleration

    12/25 filings are DEF/DEFA14A (e.g., Cadence, Planet Fitness, Adobe May meetings), with governance upgrades (indep chairs, ownership rules); vote FOR recommendations dominant, low dissent risk for tech/growth names

  • Mixed Revenue Trends

    4/7 financial reporters show YoY growth avg +17% (Adobe +12%, Lafayette +50% income), but 3 decliners avg -13% (Dyadic/Planet13); tech outliers Adobe/Cadence strong vs cyclical pressures

  • Capital Returns Prioritization

    $2.5B Adobe buybacks, $144M Century repurchases, $178M divs, Dime $0.25/share; 5/25 highlight returns amid mixed earnings, signaling confidence in cash flows

  • Leadership Shuffles

    5 transitions (Adobe CEO exit, TXN SVP retire, Muzinich C-suite, Acadia CEO Jan 2026); no disagreements noted, but monitor Adobe/Micron for execution risks in tech

  • Margin Divergence

    Improvements in Planet13 (+140 bps Q4), Dyadic R&D costs -50%, but Lafayette yield -7%, Planet gross -960 bps FY; tech Adobe op leverage via subs +13%

  • Event Clustering Today

    3 earnings calls Mar 25 (Dyadic 5pm ET, Planet13 5pm ET), proxy record dates Mar 9-12; May AGMs (Century May6, Cadence May7, BMY/PLNT May5) as catalysts

Watch List(8)

Filing Analyses(25)
Century Communities, Inc.DEF 14Apositivemateriality 8/10

25-03-2026

Century Communities, Inc. reported strong 2025 financial performance with $4.1B in total revenues, $147.6M net income ($4.86 per diluted share), and a record book value per share of $89.21 (+5% YoY), while delivering 10,792 residential units and returning a record $178.4M to stockholders via dividends and $144M in repurchases despite a challenging environment. Operationally, net new contracts reached 10,326 with a 60,916 lot pipeline, and 94% of deliveries were affordable homes below FHA limits. The proxy seeks approval for director elections, auditor ratification, and say-on-pay, highlighting governance enhancements like reduced executive compensation (e.g., Exec Chairman target STI down 30% from 2024) and board refreshment.

  • ·Annual meeting scheduled for May 6, 2026 at 1:00 p.m. MT, Hyatt Regency Denver Tech Center, Denver, CO; record date March 9, 2026.
  • ·Net homebuilding debt to net capital ratio: 25.9% as of 2025.
  • ·Direct construction costs on starts declined by average $13,000 per home in 2025.
  • ·Board governance: 5/7 directors independent (>70%), annual elections, majority vote standard, hedging/pledging prohibitions.
  • ·Engaged top stockholders representing 78% of shares in 2025.
DYADIC INTERNATIONAL INC8-Kmixedmateriality 8/10

25-03-2026

Dyadic International reported 2025 full-year revenue of $3.09 million, down 12% YoY from $3.50 million, primarily due to lower research and development ($0.97M vs $1.61M) and license/milestone revenue ($0.27M vs $1.89M), despite a $1.86 million increase in grant revenue. Net loss widened to $7.36 million or $(0.23) per share from $5.81 million or $(0.20) per share, with operating loss increasing to $7.19 million from $5.90 million, though cash position stood at $8.59 million (down from $9.29 million). The company highlighted progress with commercial launches including AlbuFree™ DX by Proliant, DNase I with Fermbox Bio, and agreements with IBT Bioservices, BRIG Bio, and Inzymes, positioning for future revenue streams.

  • ·Research and development revenue: $967,311 in 2025 vs $1,605,220 in 2024.
  • ·Cost of research and development revenue: $600,700 in 2025 vs $1,194,624 in 2024.
  • ·Earnings call scheduled for March 25, 2026 at 5:00 p.m. ET.
  • ·CRISPR/Cas9 non-exclusive license agreement with ERS Genomics signed.
  • ·AdaptVac (CEPI-supported): $12.4 million filovirus vaccine program.
  • ·European Vaccines Hub (EVH): €170 million EU-backed initiative.
Century Communities, Inc.DEFA14Aneutralmateriality 4/10

25-03-2026

Century Communities, Inc. (CCS) filed a Definitive Additional Proxy Statement (DEFA14A) on March 25, 2026, pursuant to Section 14(a) of the Securities Exchange Act of 1934. The filing includes standard company data such as CIK 0001576940, EIN 680521411, fiscal year end December 31, and headquarters at 8390 E. Crescent Pkwy., Suite 650, Greenwood Village, CO 80111. No substantive proposals, financial metrics, or voting details are discernible in the provided content, which primarily consists of metadata and apparent graphical or encoded image data.

  • ·Standard Industrial Classification: Operative Builders [1531]
  • ·State of Incorporation: Delaware
  • ·SEC File Number: 001-36491
  • ·Business Phone: 303.770.8300
Texas Community Bancshares, Inc.10-Kmixedmateriality 9/10

25-03-2026

Texas Community Bancshares, Inc. (TCBS) reported a profitable year in 2025 with net income of $2,842 thousand, reversing a $1,305 thousand loss in 2024, driven by higher net interest income of $13,314 thousand (up 6%) and positive noninterest income of $3,079 thousand versus a $1,903 thousand loss, alongside NIM expansion to 3.26%. However, total assets declined 3% to $429,842 thousand, deposits fell 2% to $327,904 thousand, and nonperforming assets surged 316% to $11,407 thousand or 2.65% of total assets from 0.62%, primarily due to foreclosures adding $9,271 thousand in other real estate owned. Loans grew 3% to $303,205 thousand net, with commercial real estate increasing to $61.5 million (20.1% of loans) from $56.1 million, while construction and land loans declined to $48.4 million (15.8%) from $54.1 million.

  • ·Nonaccrual loans decreased to $2,014 thousand from $2,125 thousand.
  • ·Provision for credit losses increased to $831 thousand from $158 thousand.
  • ·Total capital to risk-weighted assets improved to 16.67% from 15.60%.
  • ·Net charge-offs to average loans were -0.17% in 2025 versus -0.05% in 2024.
  • ·Premises and equipment net book value: Main office $1,668 thousand; Lindale branch $4,062 thousand.
TEXAS INSTRUMENTS INC8-Kneutralmateriality 5/10

25-03-2026

Hagop Kozanian, Senior Vice President of Texas Instruments Incorporated (TXN), announced his intention to retire effective August 31, 2026, as disclosed in an 8-K filing on March 25, 2026. The filing was signed by Katharine Kane, Senior Vice President, Secretary and General Counsel. No information on a successor or any financial impact was provided.

  • ·Company headquarters: 12500 TI Boulevard, Dallas, Texas 75243
  • ·Registrant’s telephone number: (214) 479-3773
  • ·Common Stock, par value $1.00, trading symbol TXN on The Nasdaq Global Select Market
BRISTOL MYERS SQUIBB CODEF 14Aneutralmateriality 6/10

25-03-2026

Bristol-Myers Squibb Company's DEF 14A Proxy Statement, filed March 25, 2026, details the virtual 2026 Annual Meeting of Shareholders on May 5, 2026, at 10:00 a.m. EDT, with record date March 12, 2026, to elect 11 Board directors, conduct an advisory vote on Named Executive Officer compensation, approve the 2026 Stock Award and Incentive Plan, ratify Deloitte & Touche LLP as independent auditors, and consider a shareholder proposal. The filing references XBRL-tagged compensation disclosures for Principal Executive Officer (Dr. Giovanni Caforio through 2023, transitioning to Dr. Chris Boerner from 2023 onward) and Non-PEO NEOs across fiscal years 2021-2025, including equity awards, pension adjustments, and fair value changes, though specific amounts are not provided in the excerpt.

  • ·Virtual meeting platform: www.virtualshareholdermeeting.com/BMY2026; log in from 9:50 a.m. EDT
  • ·Voting methods: www.proxyvote.com, toll-free (800) 690-6903, or mail proxy card
  • ·Shareholders of record as of March 12, 2026 entitled to vote common and preferred stock
Planet 13 Holdings Inc.10-Knegativemateriality 7/10

25-03-2026

Planet 13 Holdings Inc. listed 16 wholly-owned subsidiaries focused on cannabis operations including license holding, retail sales, cultivation, processing, and related activities in Nevada, California, Illinois, and Florida. The filing outlines extensive risk factors, including federal cannabis prohibition, regulatory compliance challenges, competition, operational dependencies, and lack of profitability assurances, with no positive financial performance metrics highlighted. It details the VidaCann acquisition with total consideration of $50,755,443, comprising $4,000,000 cash, 81,872,252 common shares valued at $42,123,314, and a $4,632,129 note payable.

  • ·Two subsidiaries listed as inactive: ORB13T LLC and Club One Three, LLC.
  • ·Compliance measures include inventory tracking to prevent diversion and policies against distribution to minors or criminal enterprises.
  • ·Reliance on Co-CEOs for significant shareholder influence.
CANADIAN PACIFIC KANSAS CITY LTD/CN8-Kneutralmateriality 3/10

25-03-2026

Canadian Pacific Kansas City Limited filed its 2026 Notice of Annual Meeting of Shareholders and 2026 Management Proxy Circular (dated March 10, 2026) with Canadian securities regulatory authorities on March 25, 2026, and attached it as Exhibit 99.1 to this Form 8-K. The company also filed the Notice of Availability of Materials for the 2026 Annual Meeting (Exhibit 99.2) and issued a press release announcing these filings (Exhibit 99.3). This filing satisfies U.S. reporting requirements as a foreign private issuer using domestic forms.

  • ·Principal executive offices: 7550 Ogden Dale Road S.E., Calgary, Alberta, Canada, T2C 4X9
  • ·Securities registered: Common Shares (CP on NYSE and TSX); Perpetual 4% Consolidated Debenture Stock (CP40 on NYSE, BC87 on London Stock Exchange)
DYADIC INTERNATIONAL INC10-Knegativemateriality 5/10

25-03-2026

Dyadic International Inc. (DYAI) filed its 10-K annual report on March 25, 2026, detailing extensive business and financial risks, including a history of net losses, dependency on a small number of customers, need for substantial additional capital, competitive pressures, and potential failure to commercialize technologies. The company highlights risks from international operations, key personnel loss, cybersecurity, and product liability, with no expectation of paying cash dividends. While advancing the Dapibus™ platform through engineering new strains, improving genetic tools, and optimizing processes for commercial applications, the filing emphasizes volatility in stock price and operating results without providing specific financial metrics.

BRISTOL MYERS SQUIBB CODEFA14Aneutralmateriality 6/10

25-03-2026

Bristol-Myers Squibb Company has issued additional proxy materials (DEFA14A) for its 2026 Annual Meeting on May 5, 2026, at 10:00 A.M. ET virtually, seeking shareholder approval on the election of 11 director nominees, an advisory vote to approve named executive officer compensation, approval of the 2026 Stock Award and Incentive Plan, ratification of the independent auditor, and a shareholder proposal for an independent board chairperson (board recommends against). Voting must be completed by May 4, 2026, 11:59 PM ET (or April 30 for plan shares), with proxy materials available online or requestable by April 21, 2026. No financial performance metrics or period comparisons are disclosed in this filing.

  • ·Meeting attendance virtually at www.virtualshareholdermeeting.com/BMY2026
  • ·Proxy materials request deadline: April 21, 2026 via www.ProxyVote.com, 1-800-579-1639, or sendmaterial@proxyvote.com
  • ·Address: Route 206 & Province Line Road, Princeton, NJ 08543
Planet Fitness, Inc.DEFA14Aneutralmateriality 3/10

25-03-2026

Planet Fitness, Inc. (PLNT) filed a DEFA14A Definitive Additional Materials proxy statement on March 25, 2026, pursuant to Section 14(a) of the Securities Exchange Act of 1934. The filing includes a reference to 'a2026proxynotice.htm' indicating additional proxy solicitation materials for 2026. No fee was required for this submission.

Dime Community Bancshares, Inc. /NY/8-Kpositivemateriality 6/10

25-03-2026

Dime Community Bancshares, Inc. announced that its Board of Directors declared a quarterly cash dividend of $0.25 per common share, payable on April 24, 2026, to holders of record as of April 17, 2026. The announcement was made on March 25, 2026, via a press release furnished as Exhibit 99.1.

  • ·Press release dated March 25, 2026, attached as Exhibit 99.1 and furnished, not filed
  • ·Securities registered on Nasdaq Stock Market, LLC
Planet Fitness, Inc.DEF 14Aneutralmateriality 6/10

25-03-2026

Planet Fitness, Inc. (PLNT) filed its DEF 14A definitive proxy statement on March 25, 2026, for the virtual Annual Meeting of Stockholders on May 5, 2026, at 1:00 p.m. ET. Key items include election of four director nominees to serve until the 2029 annual meeting, ratification of KPMG LLP as independent registered public accounting firm for 2026, and advisory approval of named executive officer compensation. The record date for voting eligibility is March 9, 2026.

  • ·Virtual meeting access: www.virtualshareholdermeeting.com/PLNT2026 with 16-digit control number
  • ·Proxy materials availability: www.proxyvote.com/PLNT
  • ·Investor Relations contact: (603) 750-4674 or investor@planetfitness.com
  • ·Company address: 4 Liberty Lane West, Hampton, NH 03842
Planet 13 Holdings Inc.8-Kmixedmateriality 9/10

25-03-2026

Planet 13 Holdings Inc. reported Q4 2025 revenue of $25.2 million, down 16.7% YoY from $30.3 million due to Las Vegas tourist slowdown and Florida competition, though gross profit margin improved to 44.6% from 43.2% and net loss narrowed to $4.6 million from $26.4 million (prior included $18.9M impairment). Full-year 2025 revenue fell 11.2% to $103.4 million from $116.4 million, with gross profit declining 28.9% to $39.9 million (38.6% margin vs. 48.2%) amid weaker Florida flower quality and price compression, resulting in Adjusted EBITDA loss of $10.1 million versus $4.8 million profit. Balance sheet showed cash at $15.6 million (down from $23.4 million) and total assets at $152.3 million (down from $206.7 million).

  • ·Opened dispensary in DeLand, Florida on October 13, 2025.
  • ·Opened dispensary in New Pace, Florida on October 20, 2025.
  • ·Conference call scheduled for March 25, 2026 at 5:00 p.m. ET.
  • ·FY 2025 net loss included $29.8 million in non-cash impairment charges.
CADENCE DESIGN SYSTEMS INCDEF 14Apositivemateriality 7/10

25-03-2026

Cadence Design Systems Inc.'s DEF 14A proxy statement, filed March 25, 2026, highlights robust corporate governance including an independent board chair, ten of eleven independent directors, annual board evaluations, stock ownership guidelines, and strong stockholder rights such as majority voting and proxy access. Key proposals for the annual meeting include election of directors, approval of the amendment to the Omnibus Equity Incentive Plan, advisory resolution on named executive officer compensation, and ratification of the independent auditors. The filing includes pay versus performance disclosures with equity award details for Principal Executive Officer Dr. Devgan and other NEOs across fiscal years 2021-2025, alongside Compensation Discussion and Analysis.

  • ·Stock Ownership Guidelines require CEO to hold shares worth 3X annual base salary and other executive officers 1X annual base salary, within five years of appointment.
  • ·Board limits on directors serving on other public company boards, with stricter limits for executive officers.
  • ·Corporate governance documents available at www.cadence.com and upon request to Corporate Secretary.
Acadia Healthcare Company, Inc.DEFA14Aneutralmateriality 3/10

25-03-2026

Acadia Healthcare Company, Inc. (ACHC) filed a DEFA14A Definitive Additional Materials proxy statement on March 25, 2026, pursuant to Section 14(a) of the Securities Exchange Act of 1934. The filing was made by the registrant with no fee required. No specific financial data, proposals, or other substantive details are included in the provided filing header.

  • ·Filing Type: DEFA14A (Schedule 14A Information)
  • ·Filed by the Registrant
Acadia Healthcare Company, Inc.DEF 14Aneutralmateriality 4/10

25-03-2026

Acadia Healthcare's proxy statement outlines its board committee compositions and activities in 2025, with the Board holding 12 meetings and all directors attending 75% or more, while the Audit and Risk Committee held 8 meetings, Nominating Committee 3, and Compliance Committee 5; however, the Finance Committee did not meet. It details governance practices, including director nomination procedures with deadlines for the 2027 annual meeting between January 6 and February 5, 2027, and notes leadership changes with Debra K. Osteen appointed CEO effective January 20, 2026, succeeding Christopher H. Hunter. All audit committee members qualify as financial experts and meet independence requirements.

  • ·All 2025 annual meeting directors attended in person.
  • ·Audit committee members Bissell, Cancelmi, Fucci, Grieco, and Kelly are audit committee financial experts and independent.
  • ·Stockholder director nominations for 2027 annual meeting must be delivered between close of business January 6, 2027 and February 5, 2027.
  • ·Board has no formal policy separating CEO and Chairman roles but currently separates them.
Lafayette Square USA, Inc.8-Kneutralmateriality 5/10

25-03-2026

Lafayette Square USA, Inc. filed a Form 8-K on March 25, 2026, under Items 2.02 (Results of Operations and Financial Condition) and 9.01 (Financial Statements and Exhibits), attaching Exhibit 99.1. No specific financial metrics, period comparisons, or performance details are provided in the available content.

  • ·Filing Type: 8-K
  • ·Items Reported: 2.02, 9.01
  • ·Subcategory: Unregistered Securities Sale
  • ·Exhibit: 99.1 attached
CADENCE DESIGN SYSTEMS INCDEFA14Aneutralmateriality 6/10

25-03-2026

Cadence Design Systems, Inc. issued a Definitive Additional Proxy Statement (DEFA14A) notice for its 2026 Annual Stockholder Meeting, to be held virtually on May 7, 2026, at 1:00 p.m. PT. Shareholders will vote on electing eleven directors, approving an amendment to the Omnibus Equity Incentive Plan, an advisory resolution on named executive officer compensation, and ratifying the selection of the independent registered public accounting firm. Proxy materials, including the 2025 Annual Report and 2026 Proxy Statement, are available online at www.envisionreports.com/CDNS, with paper copy requests due by April 27, 2026.

  • ·Record date for stockholders entitled to vote: March 9, 2026.
  • ·Meeting accessible virtually at www.meetnow.global/M5WPASH.
  • ·Board recommends voting FOR all proposals and director nominees.
MICRON TECHNOLOGY INC8-Kneutralmateriality 8/10

25-03-2026

On March 25, 2026, Micron Technology, Inc. commenced cash tender offers to purchase any and all of its outstanding senior notes, including 5.300% Senior Notes due 2031, 5.650% Senior Notes due 2032, 5.875% Senior Notes due 2033 (two series), 5.800% Senior Notes due 2035, and 6.050% Senior Notes due 2035. The press release detailing the offers is attached as Exhibit 99.1.

  • ·Common Stock: par value $0.10 per share, trading symbol MU on Nasdaq Global Select Market
  • ·Principal executive offices: 8000 South Federal Way, Boise, Idaho 83716-9632
  • ·Registrant’s telephone number: (208) 368-4000
Muzinich Corporate Lending Income Fund, Inc.8-Kneutralmateriality 8/10

25-03-2026

On March 23, 2026, Muzinich Corporate Lending Income Fund, Inc. announced a leadership transition effective April 1, 2026, with CEO Jeffrey Youle and CFO/Treasurer Paul Fehre stepping down from their executive roles but continuing as Board members and in other capacities at Muzinich & Co., Inc., with no disagreements noted. The Board appointed Cheryl Rivkin as new CEO, Jens Ernberg as President, Rocco DelGuercio as new CFO/Treasurer, and Susan Cohen as Secretary. No related party transactions or arrangements were disclosed.

  • ·Former CEO Jeffrey Youle will serve as Senior Adviser at Muzinich; former CFO Paul Fehre as Chief Operating Officer at Muzinich.
  • ·Cheryl Rivkin, 56, joined Muzinich in 2003; Jens Ernberg, 56, joined in 2025; Rocco DelGuercio, 62, joined in November 2025; Susan Cohen, 42, joined in 2017.
Muzinich BDC, Inc.8-Kneutralmateriality 9/10

25-03-2026

Muzinich BDC, Inc. announced on March 23, 2026, a leadership transition effective April 1, 2026, with President and CEO Jeffrey Youle and CFO and Treasurer Paul Fehre stepping down from their executive roles but remaining on the Board; no disagreements were noted. The Board appointed Cheryl Rivkin as new CEO, Jens Ernberg as President, Rocco DelGuercio as CFO and Treasurer, and Susan Cohen as Secretary. All new executives are currently affiliated with Muzinich & Co., Inc.

  • ·Departing executives expressed no disagreement on Company operations, policies, or practices.
  • ·No arrangements or understandings between new appointees and the Company or other entities requiring disclosure under Item 404(a) of Regulation S-K.
  • ·New appointees have prior experience at firms including Capital Dynamics, Credit Suisse, and Investcorp.
Lafayette Square USA, Inc.10-Kmixedmateriality 9/10

25-03-2026

Lafayette Square USA, Inc. reported total assets of $1.0B as of Dec 31, 2025, up 30% from $771M in 2024, with portfolio companies nearly doubling to 54 from 34 and total investment income surging 50% YoY to $84.7M. However, weighted average yield declined 7% to 10.6%, weighted average EBITDA per company fell 10% to $20.0M, and total expenses more than doubled to $49.1M driven by sharply higher interest and financing costs. Distributions declared since inception reached $72.4M, up from $37.7M.

  • ·Percentage of performing debt bearing a floating rate declined to 85.4% from 95.5%.
  • ·Average Net leverage ratio remained nearly flat at 3.6x from 3.7x.
  • ·Managerial Assistance Recommendation Adoption (Lead Agent Only) increased to 69% from 52%.
  • ·Debt investments with financial covenants remained at 100% of loans.
ADOBE INC.DEFA14Aneutralmateriality 9/10

25-03-2026

Adobe Inc. filed a supplement to its definitive proxy statement for the 2026 Annual Meeting of Stockholders, disclosing that CEO Shantanu Narayen notified the company on March 9, 2026, of his decision to transition from his CEO role, with Adobe conducting a search for a successor. Mr. Narayen will remain CEO until a successor is appointed and continue as Chair of the Board of Directors. The supplement confirms that voting matters remain unchanged, and previously submitted proxies are valid unless revoked.

  • ·Annual Meeting to be held virtually on April 15, 2026 at 9:00 a.m. Pacific Time.
  • ·Original Proxy Statement filed with SEC on February 27, 2026.
  • ·Stockholders who have already voted do not need to take action unless they wish to change their vote.
ADOBE INC.10-Qmixedmateriality 9/10

25-03-2026

Adobe Inc. reported total revenue of $6,398 million for the three months ended February 27, 2026, up 12% YoY from $5,714 million, primarily driven by subscription revenue growth of 13% to $6,198 million including 12% in Creative & Marketing Professionals ($4,389 million) and 16% in Business Professionals & Consumers ($1,782 million). However, product revenue declined 5% to $90 million, services and other revenue fell 19% to $110 million, and operating expenses increased 13% to $3,316 million. Net income rose 4% YoY to $1,889 million with diluted EPS of $4.60, while operating cash flow improved 19% to $2,958 million amid $2,478 million in common stock repurchases.

  • ·Total assets increased slightly to $29,704 million from $29,496 million QoQ.
  • ·Stockholders’ equity decreased to $11,433 million from $11,623 million QoQ.
  • ·Cash and cash equivalents rose to $6,332 million from $5,431 million QoQ.
  • ·Short-term debt increased to $849 million from $0 QoQ; long-term debt decreased to $5,379 million from $6,210 million QoQ.

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