Summary
F5, Inc. (FFIV) announced the appointment of Mr. Michel Combes as a director to its Board, effective September 29, 2023. Mr. Combes is a returning director, having previously served from July 2018 to March 2021. His appointment is part of the company's ongoing governance and leadership strategy. Mr. Combes will also serve as a member of the Board's Talent and Compensation Committee. His compensation as a director will align with the company's standard arrangements for non-employee directors, including an annual retainer and committee-specific payment. Additionally, he is expected to receive a pro-rata grant of restricted stock units valued at approximately $112,534, reflecting his contribution to the board.
Key Highlights
- 1Michel Combes appointed as a director to the F5, Inc. Board of Directors.
- 2Mr. Combes will serve on the Board's Talent and Compensation Committee.
- 3This appointment marks Mr. Combes' return to the Board, having previously served from July 2018 to March 2021.
- 4Mr. Combes will receive customary director compensation, including an annual retainer of $60,000.
- 5He will also receive $12,500 annually for his service on the Talent and Compensation Committee.
- 6A restricted stock unit grant valued at approximately $112,534 is expected to be approved for Mr. Combes, effective November 1, 2023.
Frequently Asked Questions
Michel Combes is an individual appointed to F5, Inc.'s Board of Directors. His appointment is significant as he is a returning director, having previously served on the board from July 2018 to March 2021, indicating continuity and potentially drawing on his prior experience with the company.
Mr. Combes will serve as a member of the Board's Talent and Compensation Committee. His compensation aligns with the company's standard practices for non-employee directors, which includes an annual retainer of $60,000 and an additional $12,500 for his committee service.
Yes, Mr. Combes is expected to receive a grant of restricted stock units under the F5, Inc. Incentive Plan. This grant, valued at approximately $112,534, is a pro-rata portion of the standard annual director grant and is expected to be effective November 1, 2023.
No, this is not an entirely new role. Mr. Combes previously served as a director for F5, Inc. from July 2018 to March 2021, making this a reappointment to the Board.