8-KLeadership ChangesExhibits & Filings

ELECTRONIC ARTS INC. 8-K Report, Executive Changes (Jan 31, 2022)

Filed January 31, 2022For Securities:EA

Summary

Electronic Arts Inc. (EA) announced a significant leadership change with the appointment of Chris Suh as its new Executive Vice President and Chief Financial Officer, effective March 1, 2022. Mr. Suh brings extensive experience from Microsoft Corporation, where he most recently served as Corporate Vice President and CFO of the Cloud + AI group. His background in investor relations and financial leadership within a large technology company is expected to be valuable as EA executes its long-term strategy. To incentivize Mr. Suh's transition and ensure long-term alignment with shareholder interests, EA has provided a comprehensive compensation package. This includes a substantial $4 million cash sign-on bonus to offset forfeited compensation from his previous employer and attract him to EA. Additionally, he will receive a new hire equity award valued at $6 million, comprising both restricted stock units (RSUs) and performance-based restricted stock units (PRSUs), designed to promote retention and align his interests with EA's stockholders.

Key Highlights

  • 1Chris Suh appointed as new Executive Vice President and Chief Financial Officer, effective March 1, 2022.
  • 2Mr. Suh joins EA from Microsoft, where he held various senior finance and investor relations roles, most recently as CFO of the Cloud + AI group.
  • 3EA is providing a $4 million cash sign-on bonus to Mr. Suh to compensate for forfeited compensation and incentivize his move.
  • 4A new hire equity award totaling $6 million ($3 million in RSUs and $3 million in PRSUs) will be granted to Mr. Suh.
  • 5Mr. Suh's annual base salary will be $700,000, with eligibility for a target annual bonus of 100% of his base salary starting in fiscal year 2023.
  • 6The sign-on bonus requires repayment if Mr. Suh voluntarily resigns within the first two years of employment.
  • 7The new hire equity awards are structured to align with long-term performance and retention goals, with vesting over three years for RSUs and performance-based vesting for PRSUs.

Frequently Asked Questions

Chris Suh has been appointed as the new Executive Vice President and Chief Financial Officer of Electronic Arts, effective March 1, 2022.

Mr. Suh has a long tenure at Microsoft Corporation, serving in various financial leadership roles since 1996. His most recent position was Corporate Vice President and Chief Financial Officer of Microsoft's Cloud + AI group. He also has experience in investor relations.

Mr. Suh will receive an annual base salary of $700,000, a $4 million cash sign-on bonus, and a $6 million new hire equity award (comprising RSUs and PRSUs). He will be eligible for an annual bonus targeting 100% of his base salary beginning in fiscal year 2023.

The $4 million sign-on bonus is intended to offset forfeited compensation and has repayment clauses if Mr. Suh voluntarily resigns within two years. The $6 million equity award, consisting of RSUs and PRSUs, is designed for long-term retention and performance alignment, with specific vesting schedules.