NETGEAR Appoints New CFO, Details Compensation
Ticker: NTGR · Form: 8-K · Filed: Aug 15, 2024 · CIK: 1122904
| Field | Detail |
|---|---|
| Company | Netgear, Inc. (NTGR) |
| Form Type | 8-K |
| Filed Date | Aug 15, 2024 |
| Risk Level | low |
| Pages | 1 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, compensation, cfo
Related Tickers: NTGR
TL;DR
NETGEAR names new CFO, Michael St. John, with $450K salary + stock.
AI Summary
NETGEAR, INC. announced on August 12, 2024, the appointment of Michael J. St. John as Chief Financial Officer, effective August 15, 2024. St. John will receive an annual base salary of $450,000 and will be eligible for an annual bonus with a target of 75% of his base salary. He will also receive a one-time grant of 100,000 restricted stock units (RSUs) vesting over three years.
Why It Matters
The appointment of a new CFO and the associated compensation package can signal the company's financial strategy and outlook to investors.
Risk Assessment
Risk Level: low — This filing primarily concerns an executive appointment and compensation, which is standard corporate activity.
Key Numbers
- $450,000 — CFO Base Salary (Annual compensation for Michael J. St. John.)
- 75% — CFO Bonus Target (Potential annual bonus for Michael J. St. John.)
- 100,000 — CFO RSU Grant (Restricted stock units awarded to Michael J. St. John.)
Key Players & Entities
- NETGEAR, INC. (company) — Registrant
- Michael J. St. John (person) — Appointed Chief Financial Officer
- $450,000 (dollar_amount) — Annual base salary for new CFO
- 75% (dollar_amount) — Target annual bonus percentage for new CFO
- 100,000 (dollar_amount) — Number of RSUs granted to new CFO
- August 12, 2024 (date) — Date of report
- August 15, 2024 (date) — Effective date of CFO appointment
FAQ
Who has been appointed as the new Chief Financial Officer of NETGEAR, INC.?
Michael J. St. John has been appointed as the new Chief Financial Officer of NETGEAR, INC.
When is the appointment of the new CFO effective?
The appointment of Michael J. St. John as CFO is effective August 15, 2024.
What is the annual base salary for the new CFO?
The annual base salary for Michael J. St. John is $450,000.
What is the target bonus percentage for the new CFO?
The target annual bonus for Michael J. St. John is 75% of his base salary.
How many restricted stock units (RSUs) were granted to the new CFO, and what is the vesting schedule?
Michael J. St. John received a one-time grant of 100,000 RSUs that vest over three years.
Filing Stats: 382 words · 2 min read · ~1 pages · Grade level 11.2 · Accepted 2024-08-15 16:05:11
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value NTGR The Nasdaq Stock Mar
Filing Documents
- ntgr-20240812.htm (8-K) — 42KB
- 0000950170-24-097567.txt ( ) — 155KB
- ntgr-20240812.xsd (EX-101.SCH) — 29KB
- ntgr-20240812_htm.xml (XML) — 4KB
SIGNATURES
SIGNATURES 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. Dated: August 15, 2024 NETGEAR, INC. By: /s/ Kirsten J. Daru Kirsten J. Daru General Counsel and Chief Privacy Officer