secwatch.observer — SEC 8-K summary
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Issuer:     Rackspace Technology, Inc. (RXT)
CIK:        0001810019
Form:       8-K
Filed at:   2022-10-03T23:59:59+00:00
Accession:  0000950142-22-002821
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Amar Maletira becomes Rackspace CEO effective Sept 23; transition agreement with former CEO Kevin Jones
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- New CEO Amar Maletira receives $900,000 salary and 150% target bonus; one-time equity grant of ~$15M (50% RSUs, 50% PSUs).
- Annual equity awards starting 2023 with total grant date value of ~$11M.
- Former CEO Kevin Jones remains employee until Oct 30, 2022; eligible for one year salary, target bonus, health benefits, pro-rated equity vesting.
- Jones also receives RSU grant of ~$1.16M, vesting after 18 months if restrictive covenants met.
- Jones eligible for reimbursement of certain relocation expenses including lease breakage and out-of-pocket costs.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1810019/000095014222002821/0000950142-22-002821-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1810019/000095014222002821/eh220291722_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950142-22-002821

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