Adobe Inc. filed SEC Form 8-K: Leadership Update
$ADBE
Computer Software: Prepackaged Software
Technology
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (date of earliest event reported): August 8, 2024 (August 5, 2024 )
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(c)
On August 5, 2024, the Company’s Board of Directors appointed Jillian Forusz as the Company’s Principal Accounting Officer, to be effective as of August 9, 2024 (the “Effective Date”). As previously reported, Mark Garfield will continue to serve as the Company’s Principal Accounting Officer through the Effective Date.
Starting August 9, 2024, Ms. Forusz, age 50, will serve as Senior Vice President and Chief Accounting Officer of the Company. Ms. Forusz served as Vice President, Corporate Controller of the Company from February 2022 to August 2024, Vice President, Accounting & Operations from November 2019 to February 2022 and Senior Director from November 2015 to November 2019. Between November 2007 and November 2015, Ms. Forusz held various finance leadership positions of increasing responsibility at the Company. Prior to joining Adobe, Ms. Forusz worked in the Audit practice at Deloitte. Ms. Forusz holds a bachelor’s degree from Penn State University.
In connection with her appointment, Ms. Forusz will receive an annual base salary of $515,000, a target annual cash bonus opportunity of 60% of base salary (with her bonus for the first year being pro-rated for the portion of the fiscal year that she is employed by the Company as the Chief Accounting Officer) and a grant of 3,630 restricted stock units on the Effective Date (the “RSU”). The RSU will vest quarterly over four years measured from the vesting commencement date, subject to Ms. Forusz’s continued employment with the Company. The RSUs will be issued under the Company’s 2019 Equity Incentive Plan, as amended (the “Plan”), and will be subject to the terms and conditions of the Plan. Ms. Forusz will be eligible to participate in standard Company benefit programs available to similarly situated officers, including: health, vision, dental and disability coverage; executive health benefits; participation in the Company’s 401(k), non-qualified deferred compensation plan and 2020 Employee Stock Purchase Plan, as amended; and participation in the Company’s charitable contribution matching program.
There are no arrangements or understandings between Ms. Forusz and any other persons pursuant to which she was appointed as Principal Accounting Officer. There are no family relationships among any of the Company’s directors or executive officers and Ms. Forusz. Other than as disclosed herein, Ms. Forusz is not a party to any transaction required to be disclosed pursuant to 404(a) of Regulation S-K. Ms. Forusz will enter into the Company's standard form of indemnity agreement for directors and officers. The form indemnity agreement was filed as Exhibit 10.5 to the Company’s Annual Report on Form 10-K for the fiscal year ended December 1, 2023, as filed with the Securities and Exchange Commission on January 17, 2024.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ADOBE INC. | |||||||||||||||||
Date: August 8, 2024 | By: | /s/ Dana Rao | |||||||||||||||
| Dana Rao | |||||||||||||||||
| Executive Vice President, General Counsel & Chief Trust Officer and Corporate Secretary | |||||||||||||||||
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