8-K/ALeadership Changes

FORD MOTOR CO 8-K/A Report, Executive Changes (Feb 18, 2020)

Filed February 18, 2020For Securities:FF-PCF-PDF-PB

Summary

Ford Motor Company has filed an amendment to its Current Report on Form 8-K detailing compensation adjustments for James D. Farley, Jr., following his election as Chief Operating Officer. Effective March 1, 2020, Mr. Farley's compensation package has been significantly enhanced to reflect his expanded role and responsibilities within the company. These changes are intended to align his incentives with Ford's strategic objectives and performance. Investors should note that such adjustments are common during significant executive appointments and signal the company's commitment to retaining and motivating key leadership during a period of strategic transition. The specific details of the compensation adjustments are provided to ensure transparency regarding executive pay practices.

Key Highlights

  • 1James D. Farley, Jr. appointed Chief Operating Officer of Ford Motor Company, effective March 1, 2020.
  • 2Compensation Committee approved new compensation arrangements for Mr. Farley.
  • 3Annual base salary increased from $1.1 million to $1.4 million.
  • 4Annual Incentive Compensation Plan bonus target increased from $1.375 million to $1.89 million.
  • 5Annual stock grant value increased from $3.82 million to $5.0 million.
  • 6These compensation changes are effective March 1, 2020.
  • 7The filing is an amendment to a prior 8-K dated February 6, 2020.

Frequently Asked Questions

This amended Form 8-K filing provides updated details on the compensation package for James D. Farley, Jr., following his appointment as Chief Operating Officer of Ford Motor Company.

The new compensation arrangements for Mr. Farley are effective March 1, 2020.

Mr. Farley's annual base salary increased from $1.1 million to $1.4 million. His annual bonus target under the Incentive Compensation Plan rose from $1.375 million to $1.89 million. Additionally, the value of his annual stock grant increased from $3.82 million to $5.0 million.

No, Mr. Farley was elected Chief Operating Officer effective March 1, 2020, as announced in a previous Form 8-K filing dated February 6, 2020. This filing specifically addresses the details of his compensation related to that appointment.