secwatch.observer — SEC 8-K summary
======================================

Issuer:     ServiceNow, Inc. (NOW)
CIK:        0001373715
Form:       8-K
Filed at:   2021-10-27T23:59:59+00:00
Accession:  0001373715-21-000289
Event type: other_material
Sentiment:  positive
Materiality: 0.55
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

CEO Bill McDermott granted $150M performance-based stock option award with 8 tranches
--------------------------------------------------------------------------------

- Award has approximate value of $150M; exercise price equals closing price on Oct 29, 2021.
- 100% performance-based: requires both stock price and subscription revenue targets per tranche.
- Vesting subject to a two-year cliff; no shares can be sold until after Sept 30, 2026.
- Achievement of highest stock price metric implies more than $150B incremental shareholder value.
- No automatic acceleration on change in control; subscription revenue metric adjusted for M&A.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1373715/000137371521000289/0001373715-21-000289-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1373715/000137371521000289/now-20211026.htm
  HTML page:      https://secwatch.observer/filing/0001373715-21-000289

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