Summary
Ford Motor Company has filed an amendment to a previous 8-K filing, primarily detailing adjustments to the compensation of its newly appointed Chief Operating Officer, Ashwani Kumar Galhotra. The amendment confirms changes to Mr. Galhotra's salary and bonus targets, effective January 1, 2024. These changes reflect the company's commitment to its senior leadership as it navigates its strategic priorities.
Key Highlights
- 1Ford Motor Company filed an 8-K/A amendment on December 14, 2023, related to executive compensation.
- 2The amendment provides updated compensation details for Ashwani Kumar Galhotra, Chief Operating Officer.
- 3Mr. Galhotra's annual base salary will increase from $1.094 million to $1.194 million, effective January 1, 2024.
- 4His Annual Performance Bonus Plan target will also increase from $1.231 million to $1.344 million, effective January 1, 2024.
- 5These compensation adjustments were approved by the Compensation, Talent and Culture Committee of Ford's Board of Directors on December 13, 2023.
- 6The original announcement of Mr. Galhotra's appointment as COO was made in an 8-K filing on October 12, 2023.