8-KLeadership ChangesExhibits & Filings

AGILENT TECHNOLOGIES, INC. 8-K Report, Executive Changes (Jul 27, 2010)

Filed July 27, 2010For Securities:A

Summary

Agilent Technologies, Inc. (Agilent) filed a Form 8-K on July 27, 2010, to report the appointment of Didier Hirsch as Senior Vice President and Chief Financial Officer (CFO), effective immediately on July 21, 2010. Mr. Hirsch had been serving as interim CFO since April 1, 2010, and has a long tenure with Agilent, holding various senior financial roles including Chief Accounting Officer. In conjunction with his permanent appointment, Mr. Hirsch's compensation package was adjusted. This includes an increase in his annual base salary to $475,000, effective August 1, 2010, and an increased target award percentage under the company's Performance-Based Compensation Plan. He will also be granted stock options and performance-based restricted stock units, subject to Agilent's insider trading window and vesting conditions tied to company performance.

Key Highlights

  • 1Didier Hirsch officially appointed as Senior Vice President and Chief Financial Officer (CFO).
  • 2Mr. Hirsch transitions from interim CFO role, held since April 1, 2010.
  • 3Annual base salary increased to $475,000, effective August 1, 2010.
  • 4Target award percentage for Performance-Based Compensation Plan increased to 70% of base salary.
  • 5Grant of stock options for 40,363 shares of common stock.
  • 6Grant of performance-based restricted stock units for a target of 9,701 shares, with vesting on October 31, 2012, and payout dependent on performance (0%-200% of target).
  • 7Equity awards are subject to the company's insider trading window.

Frequently Asked Questions

Didier Hirsch has been appointed as the new Senior Vice President and Chief Financial Officer of Agilent Technologies, effective July 21, 2010. He previously served as the interim CFO.

Mr. Hirsch's annual base salary was increased to $475,000, effective August 1, 2010. His target award percentage under the Performance-Based Compensation Plan was also increased to 70% of his annual base salary. Additionally, he was granted stock options and performance-based restricted stock units.

The stock options and performance-based restricted stock units will be granted on the first day the company's insider trading window is open following the public announcement of the third fiscal quarter 2010 financial results. The performance-based restricted stock units will vest on October 31, 2012, with the payout ranging from 0% to 200% of the target based on Agilent's performance against set goals during that period.

No, Mr. Hirsch will continue to serve as Agilent's principal financial officer and principal accounting officer in addition to his role as CFO.