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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported)

November 10, 2025

 

NUTANIX, INC.

(Exact name of registrant as specified in its charter)

Delaware

001-37883

27-0989767

(State or other jurisdiction of
incorporation)

(Commission File Number)

(IRS Employer
Identification No.)

 

1740 Technology Drive, Suite 150

San Jose, California 95110

(Address of principal executive offices, including zip code)

 

(408) 216-8360

(Registrant’s telephone number, including area code)

 

Not Applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

 

Trading symbol(s)

 

Name of each exchange on which registered

Class A Common Stock, $0.000025 par value per share

 

NTNX

 

The Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

Item 8.01 Other Events.

The Compensation Committee (the “Compensation Committee”) of the Board of Directors of Nutanix, Inc. (the “Company”), following its annual review of executive compensation, approved fiscal year 2026 annual base salaries, annual incentive targets and annual equity grants for the Company’s executive officers: (i) Rajiv Ramaswami, the Company's President and Chief Executive Officer, (ii) Rukmini Sivaraman, the Company’s Chief Financial Officer, and (iii) Brian Martin, the Company’s Chief Legal Officer.

Fiscal Year 2026 Annual Base Salaries

The Compensation Committee resolved to make no changes to the annual base salaries for Mr. Ramaswami, Ms. Sivaraman, and Mr. Martin.

Fiscal Year 2026 Annual Incentive Targets

Mr. Ramaswami, Ms. Sivaraman, and Mr. Martin will continue to participate in the Company's Executive Incentive Compensation Plan. Their fiscal year 2026 annual incentive targets under the Executive Incentive Compensation Plan are as follows:

Name

Annual Incentive Target

Equivalent Dollar Amount*

Rajiv Ramaswami

100% of annual base salary

$800,000

Rukmini Sivaraman

100% of annual base salary

$520,000

Brian Martin

75% of annual base salary

$356,250

* The equivalent dollar amounts are calculated based upon the applicable executive officer’s annual base salary in effect as of August 1, 2025.

 

 

Fiscal Year 2026 Annual Equity Awards

On November 10, 2025, Mr. Ramaswami, Ms. Sivaraman and Mr. Martin were each granted an annual equity award under the Company’s 2016 Equity Incentive Plan, with 50% of the award consisting of time-based restricted stock units (“RSUs”) and 50% of the award consisting of performance-based restricted stock units (“PRSUs”):

Name

Time-Based RSUs Granted

Target Number of PRSUs Granted

Rajiv Ramaswami

141,283

141,283

Rukmini Sivaraman

54,339

54,339

Brian Martin

30,430

30,430

Each RSU represents a contingent right to receive one share of the Company’s Class A common stock upon vesting. The RSUs will vest in 16 equal quarterly installments, with the first quarterly installment to vest on December 15, 2025, subject to continued service to the Company through each vesting date.

Each PRSU represents a contingent right to receive one share of the Company’s Class A common stock upon vesting, provided that the actual number of PRSUs that may vest may be more or less than the target number of PRSUs. The PRSUs will be eligible to vest in up to three installments based on the total shareholder return of the Company (“Company TSR”) during each of the following performance periods (each, a “Performance Period”) relative to the total shareholder return of companies in the NASDAQ Composite Index (the “Indexed Companies”): (i) August 1, 2025 to July 31, 2026 (“Performance Period One”); (ii) August 1, 2025 to July 31, 2027 (“Performance Period Two”); and (iii) August 1, 2025 to July 31, 2028 (“Performance Period Three”). PRSUs that become eligible to vest based on performance for a Performance Period vest on September 15 following the Performance Period, subject to continued service to the Company through the vesting date. The total number of PRSUs that will be eligible to vest range from 0% to 200% (the “Achievement Percentage”) of the target number of PRSUs, except that the Achievement Percentage is capped at 100% for Performance Period One and Performance Period Two. Up to 1/3 of the PRSUs will be eligible to vest as a result of performance for each of Performance Period One and Performance Period Two. The Achievement Percentage of the target number of PRSUs that may vest are (i) 0% if Company TSR ranks below the 25th percentile of the Indexed Companies, (ii) 50% if Company TSR ranks at the 25th percentile of the Indexed Companies, (iii) 100% if Company TSR ranks at the 50th percentile of the Indexed Companies, and (iv) 200% if Company TSR ranks at the 75th percentile of the Indexed Companies. If Company TSR ranks between these percentile thresholds, the Achievement Percentage of the target number of PRSUs that may vest is determined using linear interpolation. 100% of the PRSUs (as may be increased as a result of any Achievement Percentage in excess of target) will be eligible to vest with respect to Performance Period Three, less any PRSUs that already vested in Performance Period One and Performance Period Two.

 

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

NUTANIX, INC.

 

 

 

Date: November 13, 2025

By:

/s/ Brian Martin

 

 

Brian Martin

 

 

Chief Legal Officer