Quest Diagnostics increases CEO Davis's salary to $1.1M, grants $5M equity upon promotion

QUEST DIAGNOSTICS INC

CEO Davis base salary raised to $1.1M, target annual incentive 150% of salary, effective Nov 1, 2022.
Equity grant of $5M: 60% performance shares (vest Feb 2025) and 40% RSUs (3-year cliff vest).
Transportation benefit up to $175k/yr; relocation benefits $125k flexible plus $25k legal/tax.
Davis moved to Schedule A of severance plan; share ownership guideline increased to 6x salary.

item 5.02 item 9.01

Executive movements

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Role change

James Davis

Chief Executive Officer and President

DGX · QUEST DIAGNOSTICS INC

Effective: 2022-11-01
Filed: October 28, 2022, 7:59 PM ET

On October 28, 2022, the Compensation Committee (the “Committee”) of the Board of Directors of Quest Diagnostics Incorporated (the “Company”) approved an updated compensation package for Mr. Davis, reflecting Mr. Davis becoming Chief Executive Officer and President of the Company.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

James Davis changed role as Chief Executive Officer and President at QUEST DIAGNOSTICS INC.

Action: promoted
Role: Chief Executive Officer and President

Exact text from the filing

On October 28, 2022, the Compensation Committee (the “Committee”) of the Board of Directors of Quest Diagnostics Incorporated (the “Company”) approved an updated compensation package for Mr. Davis, reflecting Mr. Davis becoming Chief Executive Officer and President of the Company.

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QUEST DIAGNOSTICS INC filing history →

Source: SEC EDGAR

accession 0001022079-22-000146

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