Summary
Broadcom Inc. (AVGO) filed an 8-K on June 3, 2021, primarily reporting its second fiscal quarter financial results, which were released via a press release. While the specific financial figures are not detailed within the 8-K itself but rather in the referenced press release (Exhibit 99.1), investors should note this filing serves as the official announcement mechanism for these results. Additionally, the company announced important updates regarding its dividend policy and executive compensation policies.
Key Highlights
- 1Broadcom Inc. announced its unaudited financial results for the second fiscal quarter ended May 2, 2021, via a press release filed with the 8-K.
- 2The Board of Directors declared a quarterly cash dividend of $20.00 per share on its 8.00% Mandatory Convertible Preferred Stock, Series A.
- 3A quarterly cash dividend of $3.60 per share was declared on Broadcom Inc.'s common stock.
- 4Both dividends are payable on June 30, 2021, to respective shareholders of record on June 15, 2021 (preferred stock) and June 22, 2021 (common stock).
- 5Amendments were made to the Company’s policies regarding the acceleration of executive staff equity awards in the event of permanent disability or death.
- 6The amended policies ensure that upon permanent disability or death, outstanding and unvested performance-based equity awards, where vesting has commenced but performance criteria are not yet met, will have the performance criteria deemed achieved at 100% of the target level.