QXO appoints Ihsan Essaid as CFO with $900K salary, $3M signing bonus, equity awards

QXO, Inc.

Ihsan Essaid formally appointed CFO effective July 15, 2024; previously global head of M&A at Barclays.
Employment agreement: $900K base salary, 125% target bonus, increasing with revenue milestones up to $1.615M salary and $3.0685M bonus.
Signing bonus of $3M, repayable if terminated for cause or without good reason.
Initial equity grant: 847,500 RSUs (time-vesting) and 1,137,500 PSUs (performance-based on TSR vs S&P 500).
Non-compete clause: 12 months post-employment with monthly payments; company can extend to 24 months.

item 5.02

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Appointed

Ihsan Essaid

Chief Financial Officer

QXO · QXO, Inc.

Effective: 2024-07-15
Filed: July 18, 2024, 7:59 PM ET

On July 15, 2024, the Company formally appointed Mr. Essaid (age 57) the Chief Financial Officer of the Company, and Mr. Essaid began his employment as Chief Financial Officer with the Company.

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Executive change SEC 8-K Item 5.02 confidence 1.0

Ihsan Essaid was appointed as Chief Financial Officer at QXO, Inc..

Action: appointed
Role: Chief Financial Officer

Exact text from the filing

On July 15, 2024, the Company formally appointed Mr. Essaid (age 57) the Chief Financial Officer of the Company, and Mr. Essaid began his employment as Chief Financial Officer with the Company.

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QXO, Inc. filing history →

Source: SEC EDGAR

accession 0000950142-24-001951

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