---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-007556"
form_type: "8-K/A"
ticker: "AXS"
cik: "0001214816"
company_name: "AXIS CAPITAL HOLDINGS LTD"
filed_at: "2023-01-27T23:59:59+00:00"
generated_at: "2026-06-20T07:04:32.654171+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# AXIS Capital details CEO severance: accelerated equity awards, $10.1M value

## Summary
- CEO succession: Vincent Tizzio to replace Albert Benchimol at May 4, 2023 AGM; amendment details severance terms.
- Benchimol's non-renewal triggers severance under Section 4(f): cash severance, health insurance, continued equity vesting.
- Committee approved accelerated distribution of 50% of shares underlying unvested RSUs and PSUs as of Dec 31, 2023.
- Estimated value of outstanding equity at Dec 31, 2023 is $10.1M, based on performance and stock price of $58.14.
- Accelerated distribution intended to mitigate adverse tax consequences under IRC and align Benchimol with shareholder interests.

## SEC filing metadata
- accession: 0001104659-23-007556
- form_type: 8-K/A
- ticker: AXS
- cik: 0001214816
- company_name: AXIS CAPITAL HOLDINGS LTD
- filed_at: 2023-01-27T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1214816/000110465923007556/0001104659-23-007556-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1214816/000110465923007556/tm234669d1_8ka.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-007556
- JSON: https://secwatch.observer/filing/0001104659-23-007556.json
- Plain text: https://secwatch.observer/filing/0001104659-23-007556.txt

## Key facts
- Executive change
  Vincent Tizzio was appointed as Chief Executive Officer, President and Class III director at AXIS CAPITAL HOLDINGS LTD.
  - Action: appointed
  - Role: Chief Executive Officer, President and Class III director
  source text: Vincent Tizzio has been appointed to succeed Albert Benchimol as Chief Executive Officer, President and Class III director
  evidence_url: https://www.sec.gov/Archives/edgar/data/1214816/000110465923007556/0001104659-23-007556-index.htm
- Executive change
  Albert Benchimol departed as Chief Executive Officer, President and Class III director at AXIS CAPITAL HOLDINGS LTD.
  - Action: non-renewed
  - Role: Chief Executive Officer, President and Class III director
  source text: the Company’s non-renewal of Mr. Benchimol’s employment agreement at the expiration of the contractual term triggers severance
  evidence_url: https://www.sec.gov/Archives/edgar/data/1214816/000110465923007556/0001104659-23-007556-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.