secwatch.observer — SEC 8-K summary
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Issuer:     Weatherford International plc (WFRD)
CIK:        0001603923
Form:       8-K
Filed at:   2023-01-23T23:59:59+00:00
Accession:  0001603923-23-000058
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Weatherford board approves 2023 exec pay; amends CIC severance plan
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1603923/000160392323000058/0001603923-23-000058-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1603923/000160392323000058/wfrd-20230118.htm
  HTML page:      https://secwatch.observer/filing/0001603923-23-000058

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