Who is the new Chief Financial Officer and what is their background?

The new Executive Vice President and Chief Financial Officer is David Goulden, effective March 1, 2018. Mr. Goulden has a comprehensive background in finance and operations, including serving as Chief Financial Officer and Chief Executive Officer of EMC's Information Infrastructure business, and holding senior leadership positions at Dell Technologies.

What is David Goulden's compensation package?

Mr. Goulden's compensation includes an annual base salary of $600,000, a target annual bonus of 210% of his base salary, and significant equity awards. He will receive $6.3 million in restricted stock units (RSUs) and $4.5 million in performance share units (PSUs), both vesting over three years, with RSUs subject to continued service and PSUs contingent on performance metrics. Additionally, he receives a $500,000 signing bonus for moving expenses.

What happens to the previous CFO, John Finnegan?

Upon Mr. Goulden's commencement of employment on March 1, 2018, John Finnegan will no longer serve as the Company's Chief Financial Officer. The filing notes that more information on Mr. Finnegan's new role can be found in a previous 8-K filing from May 12, 2017.

What are the severance terms for Mr. Goulden?

In the event of termination without Cause or resignation for Good Reason, Mr. Goulden is entitled to severance benefits equal to one times his base salary and target annual bonus. This multiplier doubles to two times if the termination occurs within 12 months after a Change of Control or, under specific circumstances, within 6 months prior to a Change of Control. He will also receive pro-rated bonus payments and continued health benefits for 12 months.

BKNG 8-K: Leadership Changes & Regulation FD

Summary

This 8-K filing by The Priceline Group Inc. (now Booking Holdings Inc.) announced a significant leadership change: the appointment of David Goulden as the new Executive Vice President and Chief Financial Officer, effective March 1, 2018. Mr. Goulden brings extensive financial and operational experience, having previously served as CFO and CEO of EMC's information infrastructure business, and in leadership roles at Dell Technologies. His appointment signals a strategic move for the company, bringing in seasoned executive talent to manage its financial operations. The filing also details the key terms of Mr. Goulden's employment agreement, including his base salary, bonus targets, and substantial equity awards in the form of restricted stock units (RSUs) and performance share units (PSUs). These incentives are designed to align his interests with those of shareholders. The agreement also outlines severance provisions, including enhanced benefits in the event of a change of control, providing further clarity on executive compensation and retention strategies.

Key Highlights

1Appointment of David Goulden as Executive Vice President and Chief Financial Officer, effective March 1, 2018.
2Mr. Goulden has a strong background, including prior CFO and CEO roles at EMC Corporation and leadership positions at Dell Technologies.
3Goulden's compensation package includes an annual base salary of $600,000 and a target annual bonus of 210% of base salary.
4Significant equity awards include RSUs valued at $6.3 million and target PSUs valued at $4.5 million, vesting over three years and contingent on performance.
5A signing bonus of $500,000 is provided to cover moving expenses.
6Severance benefits are detailed, including salary and bonus continuation, with enhanced terms in case of termination without Cause or resignation for Good Reason within a specified period around a Change of Control.
7John Finnegan will transition from CFO to a new role upon Mr. Goulden's commencement of employment.

Booking Holdings Inc. 8-K Report, Executive Changes (Jan 22, 2018)

Summary

Key Highlights

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