secwatch.observer — SEC 8-K summary
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Issuer:     BORGWARNER INC (BWA)
CIK:        0000908255
Form:       8-K
Filed at:   2024-05-30T23:59:59+00:00
Accession:  0000908255-24-000025
Event type: leadership
Sentiment:  neutral
Materiality: 0.45
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

BorgWarner appoints Joseph F. Fadool as EVP and COO effective July 1, 2024
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- Joseph F. Fadool appointed EVP and COO effective July 1, 2024; previously President of Emissions, Thermal and Turbo Systems.
- Fadool's compensation: base salary $1.125M, target bonus $1.35M (120% of base), 2025 LTI target $4.21875M (375% of base).
- New Executive Severance Plan provides 1.5x (base + avg bonus) cash, 18-month medical/dental, and outplacement up to $40k for eligible execs.
- One-time restricted stock grant to EVP Tonit M. Calaway with $4.5M target value, vesting July 1, 2026, subject to continuous employment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/908255/000090825524000025/0000908255-24-000025-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/908255/000090825524000025/bwa-20240528.htm
  HTML page:      https://secwatch.observer/filing/0000908255-24-000025

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer