Xperi Inc. filed SEC Form 8-K: Leadership Update
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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CURRENT REPORT
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
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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.
On January 21, 2025, the Compensation Committee (the “Committee”) of the Board of Directors (the “Board”) of Xperi Inc. (the “Company”) approved a new Annual Bonus Plan of the Company (“ABP”) which provides for annual cash incentive awards to executive officers of the Company, subject to pre-determined performance criteria established by the Committee. The 2025 target bonus amounts under the ABP for its named executive officers will be weighted as follows: (i) with respect to Jon Kirchner, the Company’s Chief Executive Officer, and Robert Andersen, the Company’s Chief Financial Officer, 100% based on the Company’s financial performance against its performance bonus plan for executive officers, and (ii) with respect to Geir Skaaden, the Company’s Chief Products and Services Officer, 60% based on the Company’s financial performance and 40% based on the achievement of certain operating objectives. The target bonus amount for each of the named executive officers was not changed.
Awards to certain executive officers under the ABP are subject to the Company’s clawback policy and any other compensation recovery policy adopted by the Board including in response to the requirements of Section 10D of the Securities Exchange Act of 1934, as amended, the final rules of the U.S. Securities and Exchange Commission thereunder, and any applicable listing rules or other rules and regulations implementing the foregoing or as otherwise required by law.
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.
Date: January 24, 2025 |
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Xperi Inc. |
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By: |
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/s/ Robert Andersen |
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Name: |
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Robert Andersen |
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Title: |
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Chief Financial Officer |