8-KLeadership ChangesExhibits & Filings

F5, INC. 8-K Report, Executive Changes (Oct 31, 2005)

Filed October 31, 2005For Securities:FFIV

Summary

F5 Networks, Inc. (FFIV) filed an 8-K report on October 31, 2005, announcing significant changes in its senior financial leadership. The company promoted Andy Reinland to Senior Vice President and Chief Finance Officer and John Rodriguez to Senior Vice President and Chief Accounting Officer. These newly created roles were established to manage the functions previously overseen by the vacant Chief Financial Officer position since August 2005. These appointments are effective October 25, 2005. Mr. Reinland, previously Vice President of Finance, will now lead financial planning and analysis, investor relations, and IT operations. Mr. Rodriguez, formerly Vice President and Controller, will oversee worldwide accounting operations, financial and SEC reporting, and human resources. Both executives received compensation increases and grants of restricted stock units, reflecting their expanded responsibilities and commitment to the company's growth.

Key Highlights

  • 1F5 Networks appointed Andy Reinland as Senior Vice President and Chief Finance Officer.
  • 2John Rodriguez was promoted to Senior Vice President and Chief Accounting Officer.
  • 3These roles were newly created to fill the vacancy left by the former Chief Financial Officer.
  • 4Mr. Reinland's responsibilities include financial planning, investor relations, and IT.
  • 5Mr. Rodriguez will manage accounting, financial reporting, and human resources.
  • 6Both executives received salary increases and an annual bonus target increase.
  • 7Each appointee was granted 5,000 restricted stock units vesting over two years.

Frequently Asked Questions

F5 Networks announced the promotions of Andy Reinland to Senior Vice President and Chief Finance Officer and John Rodriguez to Senior Vice President and Chief Accounting Officer. These are newly created positions designed to manage the financial functions previously handled by the Chief Financial Officer.

Mr. Reinland will be responsible for F5's financial planning and analysis, investor relations, and information technology operations. Mr. Rodriguez will oversee worldwide accounting operations, financial and SEC reporting, and the human resources department.

Both Mr. Reinland and Mr. Rodriguez received an increase in their annualized base salary and an increase in their annual bonus compensation targets. Additionally, each received a one-time grant of 5,000 restricted stock units (RSUs) that will vest quarterly over two years.

The newly created positions were established to manage the functions and organizations previously handled by the Chief Financial Officer, which had been vacant since August 2005. This structure divides the CFO's prior responsibilities between two senior roles.