Dell Technologies Inc. (NYSE:DVMT) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e)
Effective as of March 15, 2019, the Executive Committee of the Board of Directors (the “Board”) of Dell Technologies Inc. (the “Company”), which acts as the compensation committee of the Board, approved a long-term incentive sub-program (the “Equity LTI Plan”) under the Dell Technologies Inc. 2013 Stock Incentive Plan. The Equity LTI Plan provides for the grant from time to time of time-based restricted stock units (“RSUs”) and performance-based restricted stock units (“PRSUs”) that settle in shares of the Company’s Class C common stock to eligible officers and employees of the Company, including the Company’s named executive officers.
Under the Equity LTI Plan, for awards made in the Company’s fiscal year ending January 31, 2020 (“fiscal 2020”):
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RSUs generally will vest in equal annual installments over the period specified for each award by the Board or a committee of the Board; and |
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PRSUs will vest (1) in accordance with the achievement of applicable performance measures relating to the Company’s operating income, the Company’s revenue and relative total stockholder return and (2) over the performance periods and service periods established for each award by the Board or a committee of the Board. |
Awards made under the Equity LTI Plan for fiscal 2020 to named executive officers and other members of the Company’s senior management will be composed of an allocation of PRSUs in the amount of 50% or more of the aggregate award, with the balance of the award consisting of RSUs. Awards made to other employees of the Company under the Equity LTI Plan for fiscal 2020 generally will be composed of RSUs.
Also effective as of March15, 2019, the Executive Committee approved the adoption of new forms of award agreement for RSUs and PRSUs under the Dell Technologies Inc. 2013 Stock Incentive Plan, which are filed as Exhibit 10.1 and Exhibit 10.2 to this current report and incorporated by reference in this Item 5.02(e).
Item 9.01Financial Statements and Exhibits.
(d) Exhibits.
The following documents are herewith filed as exhibits to this report:
Dell Technologies Inc Exhibit
EX-10.1 2 exhibit101formofrsu.htm EXHIBIT 10.1 Exhibit Exhibit 10.1Stock Unit – US Electronic Agreement (Time-Based)2013 Stock Incentive Plan DELL TECHNOLOGIES INC.Restricted Stock Unit AgreementDell Technologies Inc.,…
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About Dell Technologies Inc. (NYSE:DVMT)
Dell Technologies Inc., formerly Denali Holding Inc., is a provider of information technology solutions. The Company operates through two segments: Client Solutions and Enterprise Solutions Group (ESG). The Client Solutions segment includes sales to commercial and consumer customers of desktops, thin client products and notebooks, as well as services and third-party software and peripherals closely tied to the sale of Client Solutions hardware. Its offerings include hardware, such as desktop personal computers, notebooks and tablets, and peripherals, such as monitors, printers and projectors, as well as third-party software and peripherals. The ESG segment includes servers, networking and storage, as well as services and third-party software and peripherals that are closely tied to the sale of ESG hardware. It designs, develops, manufactures, markets, sells and supports a range of products and services.
