Sirius XM appoints Verbrugge CCO with $1.1M base salary and $5M equity grants

SIRIUS XM HOLDINGS INC.

Joseph Verbrugge appointed Chief Commercial Officer of Sirius XM Radio Inc., effective June 28, 2022, through June 27, 2024.
Annual base salary of $1,100,000, increasing to $1,150,000 on June 28, 2023; target bonus of 150% of base salary.
Equity grants: option valued at $1.25M (Black-Scholes), time-based RSUs $1.25M, and performance-based RSUs $2.5M (FCF and relative TSR).
Severance: lump sum equal to base salary plus last bonus, pro-rated bonus, 18 months health benefits, and 1 year life insurance.

item 5.02 item 9.01

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Appointed

Joseph A. Verbrugge

Chief Commercial Officer

SIRI · SIRIUS XM HOLDINGS INC.

Effective: 2022-06-28
Filed: June 29, 2022, 7:59 PM ET

On June 28, 2022, our subsidiary, Sirius XM Radio Inc., entered into a new Employment Agreement with Joseph A. Verbrugge to serve as its Chief Commercial Officer through June 27, 2024.

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Executive change SEC 8-K Item 5.02 confidence 0.95

Joseph A. Verbrugge was appointed as Chief Commercial Officer at SIRIUS XM HOLDINGS INC..

Action: appointed
Role: Chief Commercial Officer

Exact text from the filing

On June 28, 2022, our subsidiary, Sirius XM Radio Inc., entered into a new Employment Agreement with Joseph A. Verbrugge to serve as its Chief Commercial Officer through June 27, 2024.

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Source: SEC EDGAR

accession 0000930413-22-001231

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