HP INC. (NYSE:HPQ) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On May29, 2018, HP Inc. (the “Company”) announced that Steve Fieler has been appointed the Chief Financial Officer of the Company, effective July1, 2018. He will succeed Catherine A. Lesjak who will become the Company’s interim Chief Operating Officer, effective July1, 2018, until her retirement in early 2019. These officer appointments were approved on May26, 2018. Ms.Lesjak’s compensation will not change as a result of her transition from Chief Financial Officer to interim Chief Operating Officer.
Mr.Fieler, 45, has served as Head of Global Treasury of the Company, since January 2017, leading the treasury and corporate finance functions where he is responsible for managing cash, debt, risk management and capital structure as well as financial planning and analysis, investor relations, credit and collections and corporate development. Mr.Fieler previously served in a range of finance and operational roles at Hewlett-Packard Company prior to its separation into the Company and Hewlett Packard Enterprise Company in November 2015, including Vice President, Chief Financial Officer of HP Software, a $4billion division of Hewlett-Packard Company, from January 2012 to June 2014. He left in June 2014 to become the Chief Financial Officer at Proteus Digital Health, a pioneer in digital medicine, and returned to the Company in January 2017. Mr.Fieler does not have any family relationships with any of the Company’s directors or executive officers, and since the beginning of the Company’s last fiscal year, there have been no transactions between the Company and Mr.Fieler or any member of his immediate family that would require disclosure under Item 404 of Regulation S-K.
In connection with his appointment, the Company provided Mr.Fieler with a compensation offer, effective as of July1, 2018. to the terms of his compensation offer, Mr.Fieler will be eligible to receive an annual base salary of $690,000, a target annual cash bonus under the Company’s Pay-for-Results program under the Company’s Stock Incentive Plan of 125% of base salary, and other benefits, including annual equity grants, generally available to the Company’s other senior executives. In addition, on July1, 2018, Mr.Fieler will receive a one-time $2,000,000 equity award consisting of 40% restricted stock units vesting ratably on an annual basis over three years and 60% performance adjusted restricted stock units (“PARSUs”), with 50% of the PARSUs (including dividend equivalent units) eligible for vesting based on earnings per share and 50% eligible for vesting based on relative total stockholder return performance. If Mr.Fieler’s employment is terminated by the Company without cause, he will be eligible to receive severance benefits provided under the HP Severance Plan for Executive Officers, subject to execution of a severance agreement that includes customary restrictive covenants, including confidentiality, non-compete, non-solicitation and non-disparagement.
Item 5.02Financial Statements and Exhibits.
(d) Exhibits
HP INC ExhibitEX-99.1 2 d591909dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 HP Inc. 1501 Page Mill Road Palo Alto,…To view the full exhibit click here
About HP INC. (NYSE:HPQ)
HP Inc. is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services. Its segments include Personal Systems, Printing and Corporate Investments. The Personal Systems segment provides Commercial personal computers (PCs), Consumer PCs, workstations, thin clients, Commercial tablets and mobility devices, retail point-of-sale systems, displays and other accessories, software, support and services for the commercial and consumer markets. The Printing segment provides consumer and commercial printer hardware, supplies, media, solutions and services, as well as scanning devices. The Corporate Investments segment includes the operations of HP Labs and certain business incubation projects.