CyberArk Reports Update to Convertible Senior Notes Settlement Method
Summary
CyberArk Software Ltd. announced on March 23, 2026, an update to the settlement method for its 0.00% Convertible Senior Notes due 2030. The company notified noteholders, the Trustee, and the conversion agent that the Default Settlement Method will be "Combination Settlement with a Specified Dollar Amount of $1,000 per $1,000 principal amount of Notes." This method applies to all conversions occurring on or after March 23, 2026, and will remain in effect until modified. The change aligns with the Indenture, dated June 10, 2025, and supplemented February 11, 2026, which also involved Palo Alto Networks, Inc.
Why It Matters
This update impacts how CyberArk will settle conversions of its convertible notes, affecting potential future dilution and cash outflow. Investors should understand the implications of this Combination Settlement on the company's capital structure.
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Filing Details
Reported Items
Additional Information
- CIK Number
- 0001327567
- Filing Date
- Monday, March 23, 2026
- Filing Time
- 12:00 AM UTC
- Form Type
- 8-K
- Materiality Level
- medium
- Sentiment
- neutral