secwatch.observer — SEC 8-K summary
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Issuer:     Frontdoor, Inc. (FTDR)
CIK:        0001727263
Form:       8-K
Filed at:   2022-05-20T23:59:59+00:00
Accession:  0001193125-22-155656
Event type: leadership
Sentiment:  neutral
Materiality: 0.70
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Frontdoor CEO Rex Tibbens resigns; Chairman William Cobb appointed CEO effective June 1, 2022
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- Rexford Tibbens resigns as President, CEO and director effective June 1; will remain as advisor through June 30.
- William Cobb, previously Chairman, becomes CEO and continues as Chairman; no severance for Tibbens.
- Cobb receives $825,000 base salary, 120% target bonus, $500,000 sign-on RSUs, and $3.5M annual equity grant.
- Performance stock options vest at $35, $40, $45 VWAP targets; three-year performance shares with 0-200% payout.
- Brian McAndrews elected lead independent director as Cobb assumes both Chairman and CEO roles.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1727263/000119312522155656/0001193125-22-155656-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1727263/000119312522155656/d334826d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-155656

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