8-KLeadership ChangesExhibits & Filings

Motorola Solutions, Inc. 8-K Report, Executive Changes (Nov 15, 2013)

Filed November 15, 2013For Securities:MSI

Summary

Motorola Solutions, Inc. (MSI) filed an 8-K on November 14, 2013, reporting the appointment of Gino A. Bonanotte as Executive Vice President and Chief Financial Officer, effective immediately on November 13, 2013. Mr. Bonanotte, who joined MSI in 1988, had been serving as the Acting CFO since August 2013, demonstrating a clear internal progression and continuity in financial leadership. This appointment signifies a permanent decision by the board to place a seasoned executive in a critical role, reflecting confidence in his capabilities to manage the company's financial strategy. In conjunction with his promotion, Mr. Bonanotte's compensation was adjusted to reflect his new responsibilities. Key changes include an increase in his base salary to $525,000, an enhanced short-term incentive plan target payout, and adjusted target awards for various Long Range Incentive Plan (LRIP) performance cycles. These adjustments align his compensation with his elevated role and are designed to incentivize performance at the executive level. Investors can view this as a positive development, indicating stable financial leadership and a commitment to retaining key talent.

Key Highlights

  • 1Gino A. Bonanotte appointed Executive Vice President and Chief Financial Officer, effective November 13, 2013.
  • 2Mr. Bonanotte's prior experience includes serving as Acting CFO since August 2013 and holding various financial leadership roles since joining in 1988.
  • 3Annualized base salary for Mr. Bonanotte increased to $525,000.
  • 4Target payout under the short-term incentive plan increased to 95% of Eligible Earnings for the remainder of 2013.
  • 5Adjustments made to Long Range Incentive Plan (LRIP) target awards for multiple performance cycles (2011-2013, 2012-2014, 2013-2015).
  • 6Mr. Bonanotte is eligible to participate in all compensatory and benefit plans for the company's most senior executive officers.
  • 7No material family relationships or indirect material interests were disclosed for Mr. Bonanotte, ensuring an arm's-length appointment.

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