CNHI Reports Officer/Director Changes, Compensation on Jan 9

TL;DR

**CNHI just reported executive changes and compensation details from Jan 9, watch for strategic shifts.**

AI Summary

CNH Industrial N.V. filed an 8-K on January 12, 2024, reporting an event that occurred on January 9, 2024. The filing indicates changes related to the departure or election of directors or officers and their compensatory arrangements, as well as financial statements and exhibits. This matters to investors because changes in leadership and executive compensation can signal shifts in company strategy, governance, or financial health, potentially impacting the stock's future performance.

Why It Matters

Changes in executive leadership and compensation can influence a company's strategic direction and operational efficiency, directly affecting investor confidence and stock valuation.

Risk Assessment

Risk Level: medium — Changes in leadership can introduce uncertainty regarding future company performance and strategic direction, posing a moderate risk to investors.

Analyst Insight

Investors should monitor CNH Industrial N.V.'s future filings and press releases for specific details regarding the reported changes in directors/officers and compensatory arrangements, as these could impact the company's strategic direction and financial outlook.

Key Numbers

• 2024-01-09 — Date of Earliest Event Reported (Indicates when the reported changes in directors/officers and compensatory arrangements occurred.)
• 001-36085 — Commission File Number (Unique identifier for CNH Industrial N.V. with the SEC.)
• €0.01 — Par Value of Common Shares (The nominal value assigned to each common share of CNH Industrial N.V.)
• 3.850% — Interest Rate of Notes due 2027 (The annual interest rate paid on CNH Industrial N.V.'s debt securities maturing in 2027.)

Key Players & Entities

• CNH Industrial N.V. (company) — the registrant filing the 8-K
• January 9, 2024 (date) — date of the earliest event reported
• January 12, 2024 (date) — date the 8-K was filed
• 001-36085 (other) — Commission File Number for CNH Industrial N.V.
• CNHI (other) — Trading Symbol for Common Shares on NYSE
• CNHI27 (other) — Trading Symbol for 3.850% Notes due 2027 on NYSE
• New York Stock Exchange (other) — exchange where CNHI Common Shares and Notes are registered
• €0.01 (dollar_amount) — par value of Common Shares
• 3.850% (other) — interest rate of Notes due 2027

Forward-Looking Statements

• CNH Industrial N.V. will provide more detailed information regarding the specific director/officer changes and compensatory arrangements in a subsequent filing or press release. (CNH Industrial N.V.) — medium confidence, target: 2024-02-15

FAQ

Filing Documents

• d727452d8k.htm (8-K) — 31KB
• d727452dex101.htm (EX-10.1) — 26KB
• d727452dex991.htm (EX-99.1) — 10KB
• g727452dsp01.jpg (GRAPHIC) — 3KB
• g727452dsp01a.jpg (GRAPHIC) — 4KB
• g727452g0112055653397.jpg (GRAPHIC) — 2KB
• g727452g0112055653659.jpg (GRAPHIC) — 3KB
• g727452g0112055654140.jpg (GRAPHIC) — 5KB
• 0001193125-24-007553.txt ( ) — 260KB
• cnhi-20240109.xsd (EX-101.SCH) — 4KB
• cnhi-20240109_def.xml (EX-101.DEF) — 13KB
• cnhi-20240109_lab.xml (EX-101.LAB) — 22KB
• cnhi-20240109_pre.xml (EX-101.PRE) — 14KB
• d727452d8k_htm.xml (XML) — 5KB

02

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On January 9, 2024, CNH Industrial N.V. (the "Company") announced that it is reducing the size of and realigning its senior leadership team. As part of this realignment, the Company announced that Kevin Barr resigned as Chief Human Resources Officer effective as of January 9, 2024, but will remain with the Company as a senior leadership advisor through December 31, 2024 ("Term Date"), unless terminated earlier. Mr. Barr will report directly to the Company's Chief Executive Officer. Mr. Barr and the Company have also agreed to amend Mr. Barr's employment agreement, effective as of January 9, 2024, to provide, among other things, that Mr. Barr's eligibility for any bonuses for fiscal 2024 will be at the discretion of the Company's Chief Executive Officer; that Mr. Barr will not be eligible to receive any long-term incentive awards or equity awards after April 30, 2023; and any performance share units or restricted stock units which vest prior to or on April 30, 2025 will vest subject to the payment schedule in the applicable award agreement and/or plan document if Mr. Barr remains employed with the Company through the Term Date or is terminated by the Company before the Term Date without Cause (as defined in Mr. Barr's employment agreement). Mr. Barr's amended employment agreement also provides that he will be eligible to receive his base salary through December 31, 2024 if he experiences a Qualifying Termination (as defined in Mr. Barr's employment agreement) other than in connection with a Change of Control (as defined in Mr. Barr's employment agreement) prior to December 31, 2024. The foregoing summary of Mr. Barr's amended employment agreement is qualified in its entirety by reference to the Amendment to Mr. Barr's Employment Agreement, a copy of which is included as Exhibit 10.1 hereto and incorporated by

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. Exhibit 10.1 Amendment to Kevin Barr Employment Agreement Exhibit 99.1 Press release, January 9, 2024, titled: "CNH streamlines Senior Leadership structure" Exhibit 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE 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. CNH INDUSTRIAL N.V. By: /s/ Roberto Russo Name: Roberto Russo Title: Chief Legal and Compliance Officer Date: January 12, 2024

View Full Filing

View this 8-K filing on SEC EDGAR