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Title of each class
Trading symbol

 

 

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: December 15, 2020

(Date of earliest event reported)

 

 

 

INTERNATIONAL BUSINESS MACHINES CORPORATION

(Exact name of registrant as specified in its charter)

 

 

 

New York   1-2360   13-0871985
(State of Incorporation)   (Commission File Number)   (IRS employer Identification No.)

 

One New Orchard Road

 
Armonk, New York 10504
(Address of principal executive offices) (Zip Code)

 

914-499-1900

(Registrants telephone number)

 

 

 

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(s)   Name of each exchange
on which registered
Capital stock, par value $.20 per share   IBM   New York Stock Exchange
        NYSE Chicago
0.500% Notes due 2021   IBM 21B   New York Stock Exchange
2.625% Notes due 2022   IBM 22A   New York Stock Exchange
1.250% Notes due 2023   IBM 23A   New York Stock Exchange
0.375% Notes due 2023   IBM 23B   New York Stock Exchange
1.125% Notes due 2024   IBM 24A   New York Stock Exchange
2.875% Notes due 2025   IBM 25A   New York Stock Exchange
0.950% Notes due 2025   IBM 25B   New York Stock Exchange
0.875% Notes due 2025   IBM 25C   New York Stock Exchange
0.300% Notes due 2026   IBM 26B   New York Stock Exchange
1.250% Notes due 2027   IBM 27B   New York Stock Exchange
0.300% Notes due 2028   IBM 28B   New York Stock Exchange
1.750% Notes due 2028   IBM 28A   New York Stock Exchange
1.500% Notes due 2029   IBM 29   New York Stock Exchange
1.750% Notes due 2031   IBM 31   New York Stock Exchange
0.650% Notes due 2032   IBM 32A   New York Stock Exchange
1.200% Notes due 2040   IBM 40   New York Stock Exchange
7.00% Debentures due 2025   IBM 25   New York Stock Exchange
6.22% Debentures due 2027   IBM 27   New York Stock Exchange
6.50% Debentures due 2028   IBM 28   New York Stock Exchange
7.00% Debentures due 2045   IBM 45   New York Stock Exchange
7.125% Debentures due 2096   IBM 96   New York Stock Exchange

 

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(b) (Departure of Named Executive Officer and Director) and

Item 5.02(e) (Compensatory Arrangement for Named Executive Officer)

 

On December 16, 2020, the company announced that Arvind Krishna, chief executive officer of IBM, has been elected chairman of the IBM Board of Directors, effective January 1, 2021.  As previously disclosed, Virginia M. Rometty will retire from the company and the IBM Board of Directors, effective December 31, 2020. The press release is Exhibit 99.1 of this Form 8-K.

 

The IBM Board of Directors has approved certain arrangements for Mrs. Rometty, as set forth in the letter attached as Exhibit 99.2. These arrangements are in effect following her retirement for a period of 3 years.

 

Consulting Arrangement

 

After Mrs. Rometty’s retirement from the company, she may be asked, from time to time, to provide services to the company as an independent contractor.  The fee for such services would be $20,000 per day for each day she provides four or more hours of services and $10,000 per day for each day that she provides less than four hours.

 

Office

 

To facilitate the IBM consulting services to be provided by Mrs. Rometty after her retirement, IBM will continue to provide company office space with administrative support.

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits

 

The following exhibits are being filed as part of this report:

 

Exhibit No.   Description of Exhibit
99.1   Press Release
     
99.2   Letter
     
104   Cover Page Interactive Data File – the cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document

  

IBM’s web site (www.ibm.com) contains a significant amount of information about IBM, including financial and other information for investors (www.ibm.com/investor/). IBM encourages investors to visit its various web sites from time to time, as information is updated and new information is posted.

 

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SIGNATURE

 

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: December 16, 2020  
   
     
  By: /s/ Frank Sedlarcik
    Frank Sedlarcik
    Vice President, Assistant General Counsel and Secretary

 

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