Xerox Reports Executive Leadership Changes on Jan 10

TL;DR

**Xerox just announced executive changes, watch for strategic shifts.**

AI Summary

Xerox Holdings Corp filed an 8-K on January 12, 2024, reporting an event that occurred on January 10, 2024, concerning changes in its executive leadership. This filing indicates potential shifts in the company's strategic direction or operational focus due to the departure or election of directors or officers, which could impact future performance and investor confidence. For shareholders, this matters because leadership changes often precede significant business decisions, affecting the stock's long-term value.

Why It Matters

Changes in executive leadership can signal new strategic directions or operational shifts, directly influencing a company's future performance and investor sentiment.

Risk Assessment

Risk Level: medium — Leadership changes introduce uncertainty, which can lead to volatility in stock price until the new direction is clear.

Analyst Insight

A smart investor would monitor subsequent filings or company announcements for details on the specific individuals involved in the leadership changes and any new strategic initiatives that may follow.

Key Players & Entities

• Xerox Holdings Corp (company) — registrant filing the 8-K
• Xerox Corporation (company) — registrant filing the 8-K
• January 10, 2024 (date) — date of the earliest event reported
• January 12, 2024 (date) — date the 8-K was filed

FAQ

Key Financial Figures

• $1.00 — ich registered Common Stock, par value $1.00 XRX NASDAQ Global Select Market Se
• $10,000 — up to a maximum total reimbursement of $10,000. The Separation Agreement contains a mu

Filing Documents

• d719218d8k.htm (8-K) — 31KB
• d719218dex101.htm (EX-10.1) — 43KB
• g719218dsp51.jpg (GRAPHIC) — 8KB
• g719218g0112210717181.jpg (GRAPHIC) — 1KB
• 0001193125-24-007505.txt ( ) — 218KB
• xrx-20240110.xsd (EX-101.SCH) — 3KB
• xrx-20240110_lab.xml (EX-101.LAB) — 17KB
• xrx-20240110_pre.xml (EX-101.PRE) — 11KB
• d719218d8k_htm.xml (XML) — 3KB

02

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On December 31, 2023, Joanne Collins Smee transitioned from Xerox Corporation ("Xerox Corporation") and Xerox Holdings ("Xerox Holdings" and, together with Xerox Corporation, "Xerox") and ceased to serve as Executive Vice President and President, Americas of Xerox Holdings. In connection with her separation, Ms. Collins Smee entered into a General Release, Non-Competition and Non-Solicitation Agreement with Xerox Corporation on January 10, 2024 (the "Separation Agreement"), pursuant to which she is entitled to receive (i) a lump sum cash payment on or before January 31, 2024 equal to the sum of two times her annual base salary, her target bonus amount and an amount representing the cost of purchasing outside medical coverage, (ii) a cash payment in March 2024 of her 2023 short term incentive bonus based on the company performance and subject to approval by the Compensation Committee of the Board of Directors of Xerox Holdings, (iii) subject to her election of COBRA continuation coverage, continued dental and vision coverage at active employee rates for a period of up to 24 months, (iv) pro-rata vesting of her unvested equity awards under the 2020 Performance Incentive Plan, (v) continued payment by Xerox of life insurance premiums for an employer-provided death benefit for a period of up to 24 months, and (vi) tax preparation services for a period of 24 months up to a maximum total reimbursement of $10,000. The Separation Agreement contains a mutual release of claims and non-disparagement provisions; moreover, under the Separation Agreement, Ms. Collins Smee is subject to certain non-competition and non-solicitation covenants for 18 months following the date of the termination of her employment with Xerox. The foregoing description of the Separation Agreement does not purport to be complete and is qualifie

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 General Release, Non-Competition and Non-Solicitation Agreement, between Xerox Corporation and Joanne Collins Smee, dated January 10, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, each registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. XEROX HOLDINGS CORPORATION By: /s/ Flor M. Coln Name: Flor M. Coln Title: Secretary Date: January 12, 2024 XEROX CORPORATION By: /s/ Flor M. Coln Name: Flor M. Coln Titles: Secretary Date: January 12, 2024

View Full Filing

View this 8-K filing on SEC EDGAR