FAIR ISAAC CORP false 0000814547 0000814547 2020-09-14 2020-09-14





Washington, DC 20549







Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) September 14, 2020




(Exact name of registrant as specified in its charter)




Delaware   1-11689   94-1499887

(State or other jurisdiction

of incorporation)



File Number)


(IRS Employer

Identification No.)


181 Metro Drive, Suite 700

San Jose, California

(Address of principal executive offices)   (Zip Code)

Registrant’s telephone number, including area code 408-535-1500



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


Title of each class





Name of each exchange

on which registered

Common Stock, $0.01 par value   FICO   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 (17 CFR 230.405) or Rule 12b-2 of the Exchange Act (17 CFR 240.12b-2).

Emerging growth company  

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Item 2.05.

Costs Associated with Exit of Disposal Activities

On September 14, 2020, Fair Isaac Corporation (the “Company”) committed to a course of action designed to reduce its operating costs in lower value, less strategic areas of the Company’s business in order to facilitate incremental investment in higher value, more strategic areas while also adjusting the Company’s facilities footprint in light of post-pandemic workforce patterns. The Company expects this course of action to result in an aggregate of approximately $36 million in annual expense savings beginning in fiscal 2021, consisting of $8.7 million in reduced facilities expense and $27.3 million in reduced employee expense.

Specifically, the Company will close certain non-core offices and reduce office space in other locations to better align with anticipated needs, and reduce its global workforce by 3.5%, affecting approximately 140 positions. The Company expects these actions to result in an aggregate pre-tax charge of approximately $42 million in the fourth quarter of fiscal 2020, substantially all of which will result in future cash expenditures. This aggregate pre-tax charge will consist of approximately $34 million in costs related to future cash lease obligations for the closed or consolidated locations, net of anticipated sublease income, and approximately $8 million in severance and related pre-tax costs for the headcount reduction.


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.




/s/ Mark R. Scadina

  Mark R. Scadina
  Executive Vice President, General Counsel and Secretary

Date: September 16, 2020