Flash FinanceUS
Pre-market S&P 5007,376.86+0.31% Nasdaq24,579.42+1.09% Dow 3051,285.73-0.46% Russell 20002,754.11+0.89% Nasdaq-10026,989.99+1.35% MidCap 4003,602.50+0.56% SmallCap 6001,673.98+0.05% VIX25.64-9.01% 10Y Yield4.86+0.45% Close of Nov 06, 2026
AI brief of an SEC Form 8-K · Box (BOX)

Box cuts revolving credit facility to $75 million and grants CEO Levie 600,000 PSUs

Neutral Impact 4 of 5 financing Written later

Box amended its Wells Fargo credit agreement on December 19, 2024, reducing revolving commitments from $150 million to $75 million and changing the facility's maturity conditions. The same filing discloses a performance-based award of 600,000 restricted stock units to CEO Aaron Levie, which vests only if stock price hurdles of $40, $50 and $60 are met over four years.

Key points

  • Revolving commitments cut from up to $150 million to $75 million; no revolving loans and $11 million of letters of credit outstanding as of December 19, 2024
  • Facility matures on the earliest of June 30, 2028, October 16, 2025 (unless liquidity covers the January 2026 convertible notes), or February 11, 2028 (if Series A preferred remains outstanding)
  • CEO Aaron Levie granted 600,000 PSUs on December 18, 2024, in three tranches of 200,000 tied to $40, $50 and $60 average closing price hurdles

The filing

CompanyBox (BOX)
Form8-K, current report
Filed with the SECDec 20, 2024, 4:00 PM ET
Accession number0001193125-24-283091

Items reported: 1.01 Material Definitive Agreement2.03 New Direct Financial Obligation5.02 Director / Officer Change

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 12:59 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on December 20, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.