8-KLeadership Changes

Motorola Solutions, Inc. 8-K Report, Executive Changes (Mar 13, 2020)

Filed March 13, 2020For Securities:MSI

Summary

This 8-K filing from Motorola Solutions, Inc. (MSI) on March 13, 2020, primarily concerns an update to the compensation of its CEO, Gregory Q. Brown. The Board of Directors, following committee recommendation, approved a significant increase in his target annual long-term incentive award opportunity for 2020. This adjustment reflects the Board's confidence in Mr. Brown's leadership and his continued ability to drive shareholder value through strategic investments, software and services growth, and successful execution of the company's long-term strategy. The increased compensation is intended to retain Mr. Brown as CEO, acknowledging his critical role in the company's future success and succession planning. It's important for investors to note that Mr. Brown's long-term incentives remain 100% performance-based and equity-based, consisting of performance stock options, market stock units, and performance stock units. This structure aligns his compensation directly with the company's performance and shareholder returns.

Key Highlights

  • 1Motorola Solutions' CEO, Gregory Q. Brown, received an increase in his target annual long-term incentive award opportunity for 2020.
  • 2The CEO's target long-term incentive opportunity increased from $11.1 million in 2019 to $14.1 million for 2020.
  • 3The Board of Directors and Compensation Committee approved the increase, citing Mr. Brown's critical role in shareholder returns, strategic investments, and business growth.
  • 4The company aims to retain Mr. Brown as CEO due to his leadership in executing the long-term strategy and succession planning.
  • 5All of Mr. Brown's annual long-term incentive awards are 100% performance-based and equity-based.
  • 6The incentive components include performance stock options, market stock units, and performance stock units.

Frequently Asked Questions

The Board of Directors increased CEO Gregory Q. Brown's target long-term incentive award to retain him and in recognition of his crucial role in driving shareholder returns, making strategic investments, growing the software and services business, and executing the company's long-term strategy and succession plan.

The target annual long-term incentive award opportunity for CEO Gregory Q. Brown increased from $11.1 million in 2019 to $14.1 million for 2020.

No, the compensation is described as a 'target annual long-term incentive award opportunity' and is explicitly stated to be '100% performance-based and equity-based.' This means the actual amount received will depend on the company's performance and the achievement of specific metrics tied to the performance stock options, market stock units, and performance stock units.

Mr. Brown's long-term incentive awards will consist of performance stock options, market stock units, and performance stock units, all of which are equity-based and tied to company performance.