secwatch.observer — SEC 8-K summary
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Issuer:     NXP Semiconductors N.V. (NXPI)
CIK:        0001413447
Form:       8-K
Filed at:   2021-10-12T23:59:59+00:00
Accession:  0001413447-21-000082
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NXP appoints Bill Betz as CFO effective Oct 12, replacing retiring Peter Kelly
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- Bill Betz named EVP and CFO, effective October 12, 2021; promoted from SVP Business Finance.
- Base salary $450,000; annual incentive target 80% of base; LTI grant of $2.5M (30% RSUs, 70% PSUs).
- Peter Kelly steps down as CFO but remains EVP until retirement on February 28, 2022, providing transition support.
- Severance: 12 months' salary plus pro rata bonus (without cause); 24 months' salary and bonus plus 12 months benefits (change in control).
- Employment agreement includes 12-month non-compete and non-solicitation restrictions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1413447/000141344721000082/0001413447-21-000082-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1413447/000141344721000082/nxpi-20211012.htm
  HTML page:      https://secwatch.observer/filing/0001413447-21-000082

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