8-KLeadership ChangesOther Events

Motorola Solutions, Inc. 8-K Report, Executive Changes (Feb 1, 2023)

Filed February 1, 2023For Securities:MSI

Summary

Motorola Solutions, Inc. (MSI) has filed an 8-K report detailing a significant leadership transition. Mark S. Hacker, Executive Vice President, General Counsel, and Chief Administrative Officer, will step down from his active role on February 1, 2023, and retire on December 31, 2023. Mr. Hacker will continue to support the company in an advisory capacity during this transition period, with no changes to his compensation. His departure appears to be for personal reasons, with no reported disagreements. In conjunction with Mr. Hacker's retirement, the company's Compensation and Leadership Committee has approved additional service credit for equity award vesting calculations, ensuring pro-rata treatment under the Long Range Incentive Plan. Furthermore, MSI announced the appointment of Mr. James A. Niewiara and Ms. Karen E. Dunning to the management Executive Committee, effective February 1, 2023, reflecting the company's ongoing talent management and succession planning efforts.

Key Highlights

  • 1Mark S. Hacker, EVP, General Counsel & Chief Administrative Officer, is stepping down from his active role on February 1, 2023, and will retire on December 31, 2023.
  • 2Mr. Hacker will remain with the company in an advisory capacity to ensure a smooth transition, with no change in his compensation.
  • 3Mr. Hacker's retirement is for personal reasons, and there are no disagreements between him and the company.
  • 4The Compensation and Leadership Committee approved additional service credit for Mr. Hacker to ensure pro-rata vesting of equity and Long Range Incentive Plan (LRIP) awards.
  • 5James A. Niewiara, Senior Vice President, General Counsel, has been appointed to the management Executive Committee.
  • 6Karen E. Dunning, Senior Vice President, Human Resources, has also been appointed to the management Executive Committee.
  • 7These appointments are part of the company's ongoing talent management and succession planning initiatives.

Frequently Asked Questions

Mark S. Hacker, a key executive, is transitioning out of his primary role. While he will be retiring fully at the end of 2023, his continued involvement in a transitional capacity and the company's handling of his equity awards suggest a well-managed succession process and a desire for continuity.

The filing explicitly states that Mr. Hacker's departure is for personal reasons and that there are no disagreements between him and Motorola Solutions. This indicates a amicable and planned transition.

The 8-K filing announces the appointment of James A. Niewiara and Karen E. Dunning to the management Executive Committee. While Mr. Niewiara's title is Senior Vice President, General Counsel, and Ms. Dunning's is Senior Vice President, Human Resources, the filing does not explicitly state that either is directly replacing Mr. Hacker as General Counsel or Chief Administrative Officer, but rather their elevation to the Executive Committee reflects a broader leadership expansion and succession planning.

The Compensation and Leadership Committee approved additional service credit for Mr. Hacker. This ensures that his existing equity awards and awards under the Long Range Incentive Plan will be treated on a pro-rata basis upon his retirement, as per the plan's provisions.