What is the primary purpose of this 8-K filing?

This 8-K filing is an amendment to a previous report and serves to detail the compensation package for Yvonne McGill, the newly appointed Chief Financial Officer of Dell Technologies Inc., effective August 5, 2023. It outlines her salary, bonus, and equity awards.

What is Yvonne McGill's total expected compensation from this appointment?

Ms. McGill's compensation includes an annual base salary of $650,000 and a target annual bonus of 100% of her base salary. She also received a grant of 73,253 restricted stock units (RSUs) which vest over three years, providing potential for significant long-term compensation contingent on continued service.

When will Ms. McGill's equity award begin to vest?

The 73,253 restricted stock units granted to Ms. McGill will begin to vest in three equal annual installments, with the first vesting date occurring on the first anniversary of her start date as CFO, which is August 5, 2023.

Does this filing provide any information on Dell's financial performance?

No, this specific 8-K filing is solely focused on the executive appointment of the Chief Financial Officer and her associated compensation. It does not contain any information regarding Dell's financial performance, results of operations, or strategic business updates.

DELL 8-K: Leadership Changes

Summary

This 8-K filing from Dell Technologies Inc. is an amendment to a previous filing, providing details on the compensation package for Yvonne McGill upon her appointment as Chief Financial Officer, effective August 5, 2023. The amendment clarifies her base salary, annual bonus target, and equity award details, offering transparency into executive compensation changes. Investors should note that this filing focuses solely on the CFO transition and associated compensation, rather than broader financial performance or strategic updates.

Key Highlights

1Yvonne McGill appointed Chief Financial Officer (CFO) effective August 5, 2023.
2Annual base salary for Ms. McGill set at $650,000.
3Target annual bonus is 100% of base salary, pro-rated for the current fiscal year.
4Ms. McGill received an equity award of 73,253 time-based restricted stock units (RSUs).
5RSUs vest in three equal annual installments, starting on the first anniversary of the Start Date.
6The equity award is granted under the Company's 2023 Stock Incentive Plan.
7This filing is an amendment to a previous 8-K filing concerning the CFO appointment.

Dell Technologies Inc. 8-K/A Report, Executive Changes (Aug 9, 2023)

Summary

Key Highlights

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