secwatch.observer — SEC 8-K summary
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Issuer:     SIRIUS XM HOLDINGS INC. (SIRI)
CIK:        0000908937
Form:       8-K
Filed at:   2023-12-15T23:59:59+00:00
Accession:  0000930413-23-002622
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sirius XM extends CEO Jennifer Witz through Dec 2026; base salary rises to $2M in 2024
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- Base salary increases to $2M on Jan 1, 2024 from $1.75M; target bonus set at 300% of base salary.
- Equity grants: $16.5M stock options (Black-Scholes), $3.3M time-based RSUs, $13.2M performance-based RSUs.
- Severance: 1.5x base salary plus greater of target or last bonus, pro-rated bonus, health/life benefits.
- Agreement runs through Dec 31, 2026; includes non-compete, confidentiality, and clawback provisions.
- Private aircraft use letter agreement granted for personal flight time through Dec 31, 2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/908937/000093041323002622/0000930413-23-002622-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/908937/000093041323002622/c107476_8k-ixbrl.htm
  HTML page:      https://secwatch.observer/filing/0000930413-23-002622

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