Weatherford board approves 2023 exec pay; amends CIC severance plan

Weatherford International plc

CEO Saligram: $1M base salary, 125% annual incentive target, 690% LTI target; receives 38,586 RSUs, 90,036 PSUs.
CFO Mitra: $525K base, 90% annual target, 330% LTI; receives 12,918 RSUs, 19,377 PSUs.
CIC plan amended: CEO multiple to 2.5x, EVP 2x, others 1.5x; qualifying termination window extended to 24 months post-change.
Third Amended 2019 EIP and new award agreement forms approved for executive officers and non-executive directors.
Additional 5,000 PSUs granted to Desmond Mills for interim CFO service, vesting upon share price targets by Dec 31, 2024.

item 5.02 item 9.01

Executive movements

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Appointed

Arunava Mitra

Chief Financial Officer

WFRD · Weatherford International plc

Effective: 2023-01-03
Filed: January 23, 2023, 6:59 PM ET

Mr. Mitra joined the Company on January 3, 2023 and his compensation was established at that time so is unchanged.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Arunava Mitra was appointed as Chief Financial Officer at Weatherford International plc.

Action: joined
Role: Chief Financial Officer

Exact text from the filing

Mr. Mitra joined the Company on January 3, 2023 and his compensation was established at that time so is unchanged.

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Weatherford International plc filing history →

Source: SEC EDGAR

accession 0001603923-23-000058

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