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 | |||||||||||||||||
| February 27, 2025 | |||||||||||||||||
| Date of Report (Date of Earliest Event Reported) | |||||||||||||||||
| HP Inc. | |||||||||||||||||
| (Exact name of registrant as specified in its charter) | |||||||||||||||||
| Delaware | 1-4423 | 94-1081436 | ||||||||||||||||||||||||
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||||||||||||||||||||
| 1501 Page Mill Road, | Palo Alto, | California | 94304 | |||||||||||||||||||||||
| (Address of principal executive offices) | (Zip code) | |||||||||||||||||||||||||
(650) 857-1501
(Registrant’s telephone number, including area code)
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:
☐ 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 | ||||||
| Common stock, par value $0.01 per share | HPQ | New York Stock Exchange | ||||||
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) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2).
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 2.02. | Results of Operations and Financial Condition. | |||||||
| The information contained in this Item 2.02 and in the accompanying Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing. | ||||||||
| On February 27, 2025, HP Inc. ("HP") issued a news release relating to the results of operations for its fiscal quarter ended January 31, 2025. A copy of the news release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. | ||||||||
| Item 2.05 | Costs Associated with Exit or Disposal Activities. | |||||||
| On February 27, 2025, HP approved an amendment to its current restructuring plan (“the plan”) that it expects will be implemented through the end of fiscal 2025. The amendment is expected to generate additional annualized gross run rate savings of approximately $0.3 billion in fiscal 2025, for a total of approximately $1.9 billion over the course fiscal 2023 through fiscal 2025. HP anticipates incurring approximately $150 million in additional restructuring and other charges in connection with the plan amendment, due primarily to cash labor costs, for a total of approximately $1.2 billion in restructuring and other charges over the course of fiscal 2023 through fiscal 2025. HP expects incremental gross workforce reductions of approximately 1,000 to 2,000 employees in connection with the amendment. The changes to the workforce will vary by country, based on local legal requirements and consultations with employee works councils and other employee representatives, as appropriate. | ||||||||
| Item 9.01. | Financial Statements and Exhibits. | |||||||
| (d) | Exhibits | |||||||
| Exhibit Number | Description | |||||||
| 99.1 | ||||||||
| 104 | Cover Page Interactive Data File, formatted in Inline XBRL. | |||||||
| SIGNATURE | |||||||||||
| Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned hereunto duly authorized. | |||||||||||
| HP Inc. | |||||||||||
| DATE: February 27, 2025 | By: | /s/ RICK HANSEN | |||||||||
| Name: | Rick Hansen | ||||||||||
| Title: | SVP, Deputy General Counsel, Corporate and Corporate Secretary | ||||||||||