secwatch.observer — SEC 8-K summary
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Issuer:     FAIR ISAAC CORP (FICO)
CIK:        0000814547
Form:       8-K
Filed at:   2023-11-08T23:59:59+00:00
Accession:  0001193125-23-273555
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FICO EVP Software Covert steps down as executive, transitions to VP role through Dec 31
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- Stephanie Covert resigned as EVP, Software effective Nov 2; will serve as VP, Software Technology through Dec 31.
- Base salary $500k annualized; FY2023 MIP award $375k; not eligible for FY2024 MIP.
- 22,212 RSUs/MSUs/PSUs scheduled to vest Dec 10, 2023 if she remains employed through that date.
- Severance: 3 months salary, 6 months outplacement, 12 months COBRA if she resigns before Dec 9 or term expires.
- Management Agreement with change-in-control protections remains in effect, replaces prior letter agreement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/814547/000119312523273555/0001193125-23-273555-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/814547/000119312523273555/d927604d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-273555

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