CNH Industrial discloses CEO Gerrit Marx's contract: $1.25M salary, $11.92M RSU grant, stable compensation through 2027

CNH Industrial N.V.

Gerrit Marx named CEO effective July 1, 2024; base salary $1.25M, annual bonus target ≥150% of base (max 200%).
Initial RSU award of $11.92M vests: ~$6.97M Feb 2025, ~$4.95M Feb 2026, subject to performance and continued employment.
Sign-on cash bonus of €412,500 payable by April 30, 2025, to offset forfeited incentives from prior employer.
Annual LTI target of $9M in performance share units; compensation terms not expected to change for 2024-2027.
Severance includes 12 months base salary; equity vesting provisions vary by termination type (non-CIC vs CIC).

item 5.02 item 9.01

Executive movements

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Departed

Scott W. Wine

Chief Executive Officer

CNH · CNH Industrial N.V.

Effective: 2024-07-01
Successor: Gerrit Marx
Filed: June 26, 2024, 7:59 PM ET

the Company’s current Chief Executive Officer, Scott W. Wine, will continue in such role until July 1, 2024.

Appointed

Gerrit Marx

Chief Executive Officer

CNH · CNH Industrial N.V.

Effective: 2024-07-01
Filed: June 26, 2024, 7:59 PM ET

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Scott W. Wine departed as Chief Executive Officer at CNH Industrial N.V..

Role: Chief Executive Officer

Exact text from the filing

the Company’s current Chief Executive Officer, Scott W. Wine, will continue in such role until July 1, 2024.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Gerrit Marx was appointed as Chief Executive Officer at CNH Industrial N.V..

Role: Chief Executive Officer

Exact text from the filing

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

View on SEC.gov

CNH Industrial N.V. filing history →

Source: SEC EDGAR

accession 0001193125-24-169103

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