Adeia names Dipti Vachani CEO effective Oct 12; Paul Davis steps down after four years

Adeia Inc.

Dipti Vachani appointed chief executive officer and board member effective October 12, 2026, succeeding Paul E. Davis, who resigned as CEO and director effective the same day.
Vachani, 53, was SVP/GM of Arm Limited's Automotive Business Unit from 2018 to 2026; previously VP/GM of Intel's Internet of Things Group, Skyworks, and Texas Instruments; Axcelis board 2022-2025.
CEO package: $730,000 annual base salary, target bonus of 100% of salary, and $11,000,000 target equity split between $4.4M time-based RSUs over four years and $6.6M three-year performance PSUs.
Severance: 150% of salary plus target bonus if terminated without cause; 200% if within three months before or 12 months after a change in control, plus up to 18-24 months of health coverage.
Davis will consult through December 31, 2026 for a fixed $183,000 fee, with no additional equity vesting; Adeia pays COBRA premiums through September 30, 2027.

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