Why is the Co-Chief Operating Officer leaving Dell Technologies?

The 8-K filing states that Dell Technologies Inc. and Co-Chief Operating Officer Anthony Charles Whitten agreed to his resignation. The specific reasons for this mutual agreement are not detailed in this filing.

What happens to Mr. Whitten's equity awards?

Under the separation agreement, Mr. Whitten will retain the ability for two specific grants of time-based restricted stock units (RSUs) to continue vesting on their originally scheduled dates in August 2024 and August 2025. However, all other unvested equity awards will be forfeited.

Will this departure impact Dell's operations or financial performance?

This filing focuses on the executive departure and associated equity arrangements. While a change in COO can have operational implications, this specific 8-K does not provide information about the anticipated impact on Dell's business operations or financial performance. Investors should refer to Dell's other SEC filings for broader financial and operational updates.

DELL 8-K: Leadership Changes

Summary

Dell Technologies Inc. (DELL) has announced a significant leadership change with the departure of Co-Chief Operating Officer, Anthony Charles Whitten. Mr. Whitten's resignation is effective August 18, 2023. This filing provides details regarding his separation agreement, which includes provisions for the continued vesting of specific restricted stock units (RSUs) tied to time-based performance. Specifically, 177,747 RSUs scheduled to vest on August 16, 2024, and another 177,747 RSUs scheduled to vest on August 16, 2025, will continue to vest under the terms of the agreement. All other unvested equity awards will be forfeited upon his separation.

Key Highlights

1Co-Chief Operating Officer Anthony Charles Whitten is stepping down from his role, effective August 18, 2023.
2The departure is framed as an agreement between Mr. Whitten and the Company.
3A separation agreement has been executed, which includes a general release and waiver of claims by Mr. Whitten.
4Certain time-based restricted stock units (RSUs) will continue to vest post-resignation.
5177,747 RSUs are set to vest on August 16, 2024, and an equal number on August 16, 2025, contingent on agreement conditions.
6All other outstanding unvested equity awards held by Mr. Whitten will be forfeited upon his separation date.

Dell Technologies Inc. 8-K Report, Executive Changes (Jul 28, 2023)

Summary

Key Highlights

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