Gen Digital Appoints New Chief Legal Officer

TL;DR

Gen Digital names Alex Schoenberg as new CLO, starting May 13th. Big pay package expected.

AI Summary

Gen Digital Inc. announced on May 7, 2024, the appointment of Alexandra (Alex) Schoenberg as Chief Legal Officer and General Counsel, effective May 13, 2024. Schoenberg will receive an annual base salary of $475,000 and will be eligible for equity awards and other compensation as per the company's standard executive compensation programs. She previously served as General Counsel and Corporate Secretary at Splunk Inc.

Why It Matters

The appointment of a new Chief Legal Officer is a significant leadership change that could impact the company's legal strategy and compliance oversight.

Risk Assessment

Risk Level: low — This filing primarily concerns an executive appointment and compensation, which is a routine corporate event.

Key Numbers

• $475,000 — Annual Base Salary (For the newly appointed Chief Legal Officer)

Key Players & Entities

• Gen Digital Inc. (company) — Registrant
• Alexandra (Alex) Schoenberg (person) — Appointed Chief Legal Officer and General Counsel
• $475,000 (dollar_amount) — Annual base salary for new CLO
• May 13, 2024 (date) — Effective date of appointment
• Splunk Inc. (company) — Previous employer of new CLO

FAQ

Key Financial Figures

• $0.01 — h registered Common Stock, par value $0.01 per share GEN The Nasdaq Stock Mark

Filing Documents

• tm2414061d1_8k.htm (8-K) — 29KB
• 0001104659-24-059909.txt ( ) — 200KB
• nlok-20240507.xsd (EX-101.SCH) — 3KB
• nlok-20240507_lab.xml (EX-101.LAB) — 33KB
• nlok-20240507_pre.xml (EX-101.PRE) — 22KB
• tm2414061d1_8k_htm.xml (XML) — 4KB

02 Departure

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Departure of Ondrej Vlcek as President of Gen On May 9 , 2024, Gen Digital Inc. (the "Company" or "Gen") announced that on June 13 , 2024 (the "Departure Date") , Ondrej Vlcek will transition from Gen and depart from his role as President but will continue to serve as a member of the Company's Board of Directors and provide consulting services to the Company to ensure an orderly transition. In connection with this transition, Mr. Vlcek will enter into an agreement with the Company (the "Agreement"), which will supersede any prior employment agreement Mr. Vlcek previously had with the Company. Pursuant to this Agreement, it is expected that Mr. Vlcek will provide consulting services on various matters, including matters related to innovation and technology at the request of the Company, which w ill be in addition to his regular ongoing responsibilities as a member of the Board. As compensation for these services and his service on the Board of Directors, Mr. Vlcek's existing time-based restricted stock units excluding the Holding RSUs (as defined below) will continue to vest in accordance with their applicable award agreements and the Company's 2013 Equity Incentive Plan, as amended, for one (1) year from the date of his departure , provided Mr. Vl c ek continues to serve as either a member of Gen's Board of Directors or as a consultant to the Company. Mr. Vlcek will not receive any additional non-employee board member compensation in connection with his service as a board member during his transition period. Additionally, as of the Departure Date, all of Mr. Vlcek's unvested performance-based restricted stock units and all other tranches of his time-based grants described above will be forfeited. Further, Mr. Vlcek previously agreed to hold for three years all Gen stock received as consideration from the A

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View this 8-K filing on SEC EDGAR