Summary
This 8-K filing from Booking Holdings Inc. announces a significant leadership change in its finance department. Effective March 15, 2024, Ewout L. Steenbergen will assume the role of Executive Vice President and Chief Financial Officer (CFO). Mr. Steenbergen brings extensive experience, having most recently served as EVP and CFO at S&P Global Inc. and previously holding senior finance positions at Voya Financial. His appointment signals a strategic move to leverage his financial expertise within Booking Holdings. In conjunction with his new role, Mr. Steenbergen will receive a comprehensive compensation package designed to incentivize his long-term commitment and performance. This includes a substantial base salary, a target annual bonus, and significant equity awards in the form of Restricted Stock Units (RSUs) and Performance Share Units (PSUs), along with a signing bonus. The filing also details severance provisions and vesting schedules for his equity awards. This transition marks the departure of the previous CFO from that specific role, as previously reported.
Key Highlights
- 1Appointment of Ewout L. Steenbergen as new EVP and CFO, effective March 15, 2024.
- 2Mr. Steenbergen has a strong financial background, including his recent role as CFO of S&P Global Inc.
- 3Significant new hire compensation package includes $825,000 base salary, 180% target bonus, and over $19 million in equity awards (RSUs and PSUs).
- 4A signing bonus of $1 million is included in Mr. Steenbergen's compensation.
- 5Equity awards have multi-year vesting schedules, with some performance-based components.
- 6Severance benefits are detailed, including provisions related to Change of Control scenarios.
- 7The appointment signifies a leadership transition in the Chief Financial Officer position.