---
schema_version: "secwatch.filing_event.v1"
accession: "0001141391-23-000083"
form_type: "8-K/A"
ticker: "MA"
cik: "0001141391"
company_name: "Mastercard Inc"
filed_at: "2023-05-19T23:59:59+00:00"
generated_at: "2026-06-14T19:26:42.545378+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "high"
source: SEC EDGAR
---

# Mastercard extends Michael Froman's departure to Dec 31; Advisor to CEO from June 1 at reduced pay

## Summary
- Michael Froman will stay until Dec 31, 2023, extended from May 2023, to ensure seamless transition.
- Effective June 1, Froman becomes Advisor to CEO at 25% schedule with annual salary of $181,250.
- 2023 bonus target set at 125% of part-time base salary, prorated to June 1; no new equity awards for 2023.
- Existing equity awards remain unmodified; Froman was Vice Chairman and President, Strategic Growth.

## SEC filing metadata
- accession: 0001141391-23-000083
- form_type: 8-K/A
- ticker: MA
- cik: 0001141391
- company_name: Mastercard Inc
- filed_at: 2023-05-19T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.3
- calibrated_materiality_score: 0.3
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1141391/000114139123000083/0001141391-23-000083-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1141391/000114139123000083/ma-20230228.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001141391-23-000083
- JSON: https://secwatch.observer/filing/0001141391-23-000083.json
- Plain text: https://secwatch.observer/filing/0001141391-23-000083.txt

## Key facts
- Executive change
  Michael Froman changed role as Advisor to the CEO at Mastercard Inc.
  - Action: will become
  - Role: Advisor to the CEO
  source text: Effective June 1, 2023 (the “Effective Date”), Mr. Froman will become an Advisor to the CEO and will work on a reduced schedule of 25% of his current full-time commitment at a reduced rate of annual salary of $181,250.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1141391/000114139123000083/0001141391-23-000083-index.htm

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