CITRIX SYSTEMS, INC. (NASDAQ:CTXS) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 5, 2018, the Board of Directors of Citrix Systems, Inc. (the “Company”) appointed Andrew Del Matto as Executive Vice President, Chief Financial Officer of the Company, effective as of February19, 2018. As of that date, Mr.Del Matto will succeed Mark M. Coyle as “principal financial officer” of the Company for purposes of filings with the Securities and Exchange Commission. Mr.Coyle was serving as Chief Financial Officer on an interim basis, and will continue with the Company in the role of Senior Vice President, Finance of the Company following the effectiveness of Mr.Del Matto’s appointment.
Mr.Del Matto, age 59, has served as Chief Financial Officer of Fortinet, Inc., a network security company, from January 2014 to February 2018. From January 2005 to December 2013, Mr.Del Matto served in various positions at Symantec Corporation, a cyber security company, including as acting Chief Financial Officer from October 2013 to December 2013 and as Senior Vice President and Chief Accounting Officer from April 2012 to October 2013. At Symantec, Mr.Del Matto also served in prior capacities as Corporate Treasurer and Vice President of Finance Business Operations, as Vice President of Corporate Financial Planning and Analysis and as head of the Revenue Operations team. Prior to joining Symantec, Mr.Del Matto was employed in a variety of finance and accounting leadership roles by Inktomi Corporation, a search and content distribution software provider to enterprises and internet search providers, and SGI Corporation.
There are no other arrangements or understandings between Mr.Del Matto and any other person to which Mr.Del Matto was appointed as Executive Vice President and Chief Financial Officer of the Company.Mr.Del Matto is not a party to any transaction that would require disclosure under Item404(a) of Regulation S-K.
Mr.Del Matto will receive an initial base salary of $550,000, with target variable cash incentive compensation equal to 90% of his base salary. In connection with his appointment, Mr.Del Matto will receive reimbursement of certain relocation expenses, with a portion of each subject to repayment by Mr.Del Matto if he voluntarily resigns or is terminated for cause within the first year of his employment with the Company. Also in connection with his appointment, Mr.Del Matto will receive an award of time-based restricted stock units having a value of $4.5 million on the grant date, which will vest in equal annual installments over a three-year period subject to his continued employment with the Company. Mr.Del Matto will be eligible to participate in the Company’s annual executive equity award program beginning in 2018, as well as all other compensation and benefit plans available to the Company’s executive officers.
As a member of the Company’s executive leadership team, Mr.Del Matto will enter into both an Executive Agreement and an Indemnification Agreement with the Company in the forms previously approved for executive officers of the Company. A summary of the form of Executive Agreement is set forth in the Company’s Current Report on Form 8-K filed with the SEC on January20, 2017 under the caption “Senior Executive Agreements,” which summary is incorporated herein by reference. The form of Executive Agreement was included as Exhibit 10.2 to the Company’s Current Report on Form 8-K filed with the SEC on January20, 2017. The form of Indemnification Agreement, which generally provides, among other matters, for the Company to indemnify the executive officer to the fullest extent permitted by law and advance to the executive officer all related expenses (subject to reimbursement if it is subsequently determined that indemnification is not permitted), was included as Exhibit 10.4 to the Company’s Quarterly Report on Form 10-Q for the quarter ended June30, 2011.
Item 5.02 Regulation FD Disclosure.
A press release, dated February5, 2018, announcing the appointment of Andrew Del Matto as Executive Vice President and Chief Financial Officer of the Company is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
Item 5.02 Financial Statements and Exhibits.
CITRIX SYSTEMS INC ExhibitEX-99.1 2 d444495dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 For media inquiries,…To view the full exhibit click
About CITRIX SYSTEMS, INC. (NASDAQ:CTXS)
Citrix Systems, Inc. develops and sells products and services that enable delivery of applications and data over public, private or hybrid clouds or networks, to virtually any type of device. The Company operates through two segments: Enterprise and Service Provider, and Mobility Apps. The Company’s Enterprise and Service Provider segment consists of Workspace Services and Delivery Networking products. Its Mobility Apps segment consists of Communications Cloud and Workflow Cloud products. The Company’s solutions offer secure, mobile workspaces that provide people with access to applications, desktops, data and communications, over any network or cloud. It markets and licenses its products directly to customers, over the Web, and through systems integrators (SIs), in addition to indirectly through value-added resellers (VARs), value-added distributors (VADs), original equipment manufacturers (OEMs) and service providers.