8-KLeadership ChangesExhibits & Filings

Keysight Technologies, Inc. 8-K Report, Executive Changes (Oct 1, 2020)

Filed October 1, 2020For Securities:KEYS

Summary

Keysight Technologies, Inc. (KEYS) has announced a significant leadership transition through an 8-K filing on October 1, 2020. The company disclosed the impending retirement of its Chief Technology Officer, Jay Alexander, who plans to retire by December 31, 2021. This provides a substantial transition period for the company to manage the CTO role. Concurrently, Keysight has appointed Satish Dhanasekaran as the new Senior Vice President and Chief Operating Officer, effective October 1, 2020. Mr. Dhanasekaran's extensive experience within Keysight, particularly his recent role as President of the Communications Solution Group, positions him well for this expanded responsibility. His compensation package has been adjusted to reflect this new role, including an increased base salary and significant equity awards designed to align his interests with long-term shareholder value.

Key Highlights

  • 1Jay Alexander, Senior Vice President and Chief Technology Officer, announced his intention to retire by December 31, 2021.
  • 2Satish Dhanasekaran has been appointed Senior Vice President and Chief Operating Officer, effective October 1, 2020.
  • 3Mr. Dhanasekaran's new role comes with an increased annual base salary of $675,000.
  • 4His target bonus under the Performance-Based Compensation Plan has been set at 100% of his base salary.
  • 5Mr. Dhanasekaran received 472 time-based Restricted Stock Units (RSUs) vesting over four years.
  • 6He was also granted 647 target performance-based stock units, with vesting tied to company performance through October 31, 2022.

Frequently Asked Questions

Jay Alexander, the CTO, has announced his intention to retire by the end of 2021. This provides Keysight with over a year to ensure a smooth transition for this critical technology leadership role and allows for strategic planning around succession.

Satish Dhanasekaran has been appointed as the new Chief Operating Officer. He has a strong track record within Keysight, having most recently served as Senior Vice President and President of the Communications Solution Group. His prior roles at Keysight also cover various leadership positions within key business units.

Effective October 1, 2020, Mr. Dhanasekaran's annual base salary has been increased to $675,000. Additionally, his target bonus percentage has been set at 100% of his base salary. He has also been granted both time-based RSUs and performance-based stock units as part of his new compensation package.

Mr. Dhanasekaran received 472 time-based RSUs that vest over four years (25% annually). He also received 647 target performance-based stock units, which will vest on October 31, 2022, with the final payout determined by Keysight's performance against specific metrics over a three-year period.