Altice USA names Marc Sirota CFO effective March 1, 2023; Michael Grau transitions to advisor

Optimum Communications, Inc.

Michael Grau to step down as CFO effective March 1, 2023; will serve as Senior Advisor to CEO until July 3, 2023, then consultant through March 31, 2024.
Marc Sirota appointed as new CFO; previously served in senior roles at Comcast including Division CFO and Cable Assistant Controller.
Sirota receives $500k base salary, 100% target bonus, $200k sign-on cash, $3M RSU grant (3-year vest), and $3M cash performance award.
Grau to receive $400k severance (12-month installments), prorated 2023 bonus at target, and continued vesting of equity awards during consulting.
Sirota also eligible for annual long-term incentive awards starting 2024 with $2M target; relocation benefits of $20k/month for up to 6 months.

item 5.02 item 9.01

Executive movements

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Appointed

Marc Sirota

Chief Financial Officer

OPTU · Optimum Communications, Inc.

Effective: 2023-03-01
Filed: February 22, 2023, 6:59 PM ET

Marc Sirota will be appointed as the Company’s new CFO.

Departed

Michael Grau

Chief Financial Officer

OPTU · Optimum Communications, Inc.

Effective: 2023-03-01
Successor: Marc Sirota
Filed: February 22, 2023, 6:59 PM ET

Effective March, 1, 2023, Michael Grau, the Chief Financial Officer (“CFO”) of Altice USA, Inc. (the “Company”) will cease his service as CFO

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Marc Sirota was appointed as Chief Financial Officer at Optimum Communications, Inc..

Action: appointed
Role: Chief Financial Officer

Exact text from the filing

Marc Sirota will be appointed as the Company’s new CFO.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Michael Grau resigned as Chief Financial Officer at Optimum Communications, Inc..

Action: resigned
Role: Chief Financial Officer

Exact text from the filing

Effective March, 1, 2023, Michael Grau, the Chief Financial Officer (“CFO”) of Altice USA, Inc. (the “Company”) will cease his service as CFO

View on SEC.gov

Optimum Communications, Inc. filing history →

Source: SEC EDGAR

accession 0000947871-23-000216

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