secwatch.observer — SEC 8-K summary
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Issuer:     Vertiv Holdings Co (VRT)
CIK:        0001674101
Form:       8-K
Filed at:   2022-10-03T23:59:59+00:00
Accession:  0001193125-22-256141
Event type: leadership
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 7.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Vertiv CEO Rob Johnson to retire Dec 31; Albertazzi to succeed; Q4 guidance lowered
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- Rob Johnson retires as CEO effective Dec 31, 2022; Giordano Albertazzi named COO immediately and CEO from Jan 1, 2023.
- Reaffirms Q3 2022 guidance at lower end; revises Q4 2022 adjusted operating profit to $220M-$240M (from prior mid-point down $22.5M) due to FX.
- Updates 2023 adjusted operating profit outlook to $730M-$750M; backlog at record $4.7B.
- Joseph DeAngelo appointed to Board of Directors, expanding board to 11 members.
- Albertazzi to receive $900k base salary, 125% bonus target, annual equity grant of $3.5M, and one-time option grant of 500,000.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1674101/000119312522256141/0001193125-22-256141-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1674101/000119312522256141/d403442d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-256141

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