Phinia Inc. Appoints New CFO, Announces Compensation
Ticker: PHIN · Form: 8-K · Filed: Jun 25, 2024 · CIK: 1968915
| Field | Detail |
|---|---|
| Company | Phinia Inc. (PHIN) |
| Form Type | 8-K |
| Filed Date | Jun 25, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, compensation, cfo
TL;DR
Phinia Inc. names new CFO, Jeffrey Jones, with $450K salary, stock grants, and signing bonus.
AI Summary
On June 19, 2024, PHINIA INC. announced the appointment of Jeffrey L. N. Jones as its new Chief Financial Officer, effective June 24, 2024. Jones will receive an annual base salary of $450,000 and is eligible for a discretionary annual bonus. He will also be granted 100,000 restricted stock units, vesting over three years, and will receive a $50,000 signing bonus.
Why It Matters
The appointment of a new CFO is a significant leadership change that can impact financial strategy and investor confidence.
Risk Assessment
Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategies and performance.
Key Numbers
- $450,000 — CFO Annual Salary (Base compensation for new CFO Jeffrey Jones.)
- 100,000 — RSUs Granted (Stock incentive for new CFO, vesting over three years.)
- $50,000 — Signing Bonus (One-time payment to new CFO upon commencement.)
Key Players & Entities
- PHINIA INC. (company) — Registrant
- Jeffrey L. N. Jones (person) — Appointed Chief Financial Officer
- $450,000 (dollar_amount) — Annual base salary for new CFO
- 100,000 (dollar_amount) — Restricted stock units granted to new CFO
- $50,000 (dollar_amount) — Signing bonus for new CFO
- June 19, 2024 (date) — Date of report
- June 24, 2024 (date) — Effective date for new CFO
FAQ
Who has been appointed as the new Chief Financial Officer of PHINIA INC.?
Jeffrey L. N. Jones has been appointed as the new Chief Financial Officer of PHINIA INC.
When is the appointment of the new CFO effective?
The appointment of Jeffrey L. N. Jones as CFO is effective June 24, 2024.
What is the annual base salary for the new CFO?
The annual base salary for Jeffrey L. N. Jones is $450,000.
How many restricted stock units will the new CFO receive?
Jeffrey L. N. Jones will be granted 100,000 restricted stock units.
What is the vesting schedule for the new CFO's restricted stock units?
The 100,000 restricted stock units granted to Jeffrey L. N. Jones will vest over three years.
Filing Stats: 653 words · 3 min read · ~2 pages · Grade level 10.5 · Accepted 2024-06-25 08:02:01
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share PHIN New York Stock Exchange
Filing Documents
- phin-20240619.htm (8-K) — 28KB
- pressrelease-appointmentof.htm (EX-99.1) — 8KB
- 0001628280-24-029695.txt ( ) — 160KB
- phin-20240619.xsd (EX-101.SCH) — 2KB
- phin-20240619_lab.xml (EX-101.LAB) — 21KB
- phin-20240619_pre.xml (EX-101.PRE) — 12KB
- phin-20240619_htm.xml (XML) — 3KB
Financial Statements and Exhibits
Financial Statements and Exhibits (d) Exhibits. The following exhibits are being filed as part of this Report. Exhibit Number Description 99.1 Press release issued by PHINIA Inc. dated June 25, 2024 104.1 The cover page from this Current Report on Form 8-K, formatted as Inline XBRL
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. PHINIA Inc. Date: June 25, 2024 By: /s/ Robert Boyle Name: Robert Boyle Title: Vice President, General Counsel and Secretary