Form 8-K - Current report
May 10 2024 - 4:15PM
Edgar (US Regulatory)
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0000849399
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2024-05-07
2024-05-07
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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): May 7, 2024
Gen
Digital Inc.
(Exact
name of registrant as specified in its charter)
Delaware
(State
or other jurisdiction
of incorporation or organization) |
000-17781
(Commission
File Number) |
77-0181864
(I.R.S.
Employer Identification Number) |
60 E. Rio Salado Parkway, Suite 1000,
Tempe, Arizona 85281
(Address of principal executive offices and zip code)
(650)
527-8000
(Registrant's
telephone number, including area code)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
¨ |
Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ |
Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ |
Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ |
Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol |
|
Name
of each exchange on which
registered |
Common
Stock, par value $0.01 per share |
|
GEN |
|
The Nasdaq Stock Market LLC |
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)
Emerging
growth company ¨
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 5.02 Departure
of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Departure of Ondrej Vlcek as President
of Gen
On May
9, 2024, Gen Digital Inc. (the “Company” or “Gen”) announced that
on June 13, 2024 (the “Departure Date”),
Ondrej Vlcek will transition from Gen and depart from his role as President but will continue to serve as a member of the Company’s
Board of Directors and provide consulting services to the Company to ensure an orderly transition.
In connection
with this transition, Mr. Vlcek will enter into an agreement with the Company (the “Agreement”),
which will supersede any prior employment agreement Mr. Vlcek previously had with the Company.
Pursuant to this Agreement, it is expected that Mr. Vlcek will provide consulting services
on various matters, including matters related to innovation and technology at the request of the Company, which will be
in addition to his regular ongoing responsibilities as a member of the Board. As compensation for these services and his service on the
Board of Directors, Mr. Vlcek’s existing time-based restricted stock units excluding the Holding RSUs (as defined below)
will continue to vest in accordance with their applicable award agreements and the Company’s
2013 Equity Incentive Plan, as amended, for one (1) year from the date of his departure,
provided Mr. Vlcek continues to serve as either a member of Gen’s Board of Directors
or as a consultant to the Company. Mr. Vlcek will not receive any additional non-employee board member compensation in connection with
his service as a board member during his transition period. Additionally, as of the Departure Date,
all of Mr. Vlcek’s unvested performance-based restricted stock units and all other tranches of his time-based grants described
above will be forfeited. Further, Mr. Vlcek previously agreed to hold for three years all
Gen stock received as consideration from the Avast transaction, in return for which the Company granted time-based restricted stock units
(“Holding RSUs”), which would only vest if he satisfies this holding requirement and provides services through the end of
the holding period. This Holding RSU grant will continue to vest in accordance with its terms so long as Mr. Vlcek is either a member
of Gen’s Board of Directors or acts as a consultant to the Company and satisfies the holding requirement. These benefits
are contingent upon Mr. Vlcek entering into and not rescinding the Agreement.
Designation
of Vincent Pilette as President of Gen
On May
7, 2024, in conjunction with Mr. Vlcek’s departure, the Company approved Vincent Pilette,
the Company’s current Chief Executive Officer, to reassume the role of President effective as of June 13,
2024. Mr. Pilette’s biographical information is set forth in the Company’s definitive proxy statement filed with the SEC on July 31, 2023, which is incorporated herein by reference. In addition, there are no
disclosable relationships pursuant to this current report on Form 8-K.
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly
authorized on this 10th day of May, 2024.
|
Gen Digital Inc. |
|
|
|
|
By: |
/s/
Bryan S. Ko |
|
|
Bryan
S. Ko |
|
|
Chief
Legal Officer and Corporate Secretary |
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