secwatch.observer — SEC 8-K summary
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Issuer:     SIRIUS XM HOLDINGS INC. (SIRI)
CIK:        0000908937
Form:       8-K
Filed at:   2022-06-29T23:59:59+00:00
Accession:  0000930413-22-001231
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/908937/000093041322001231/0000930413-22-001231-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/908937/000093041322001231/c104026_8k-ixbrl.htm
  HTML page:      https://secwatch.observer/filing/0000930413-22-001231

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