CFO Michael Foliano retires; consulting deal at $220/hr plus RSU acceleration and option extension

ADTRAN Holdings, Inc.

Michael Foliano retired as SVP Finance and CFO effective June 28, 2023.
Consulting agreement from July 1, 2023 to June 30, 2024 at $220/hour with expense reimbursement.
Compensation committee accelerated vesting of 36,952 unvested RSUs on departure date.
Exercise period for 52,303 vested stock options extended through each option's original term.

item 5.02 item 9.01

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Departed

Michael Foliano

Senior Vice President of Finance and Chief Financial Officer

ADTN · ADTRAN Holdings, Inc.

Effective: 2023-06-28
Filed: June 28, 2023, 7:59 PM ET

Michael Foliano, the former Senior Vice President of Finance and Chief Financial Officer of the Company, notified the Company of his intent to retire, effective June 28, 2023

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Michael Foliano retired as Senior Vice President of Finance and Chief Financial Officer at ADTRAN Holdings, Inc..

Action: retired
Role: Senior Vice President of Finance and Chief Financial Officer

Exact text from the filing

Michael Foliano, the former Senior Vice President of Finance and Chief Financial Officer of the Company, notified the Company of his intent to retire, effective June 28, 2023

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ADTRAN Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-177593

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