Business Context and Reporting Period
This Form 8-K filing by Hertz Global Holdings, Inc. and The Hertz Corporation reports a significant executive appointment. The report date is September 29, 2025, covering an event effective September 30, 2025.
Key Financial Metrics
The filing does not provide financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on executive compensation and appointment details.
Material Changes
The primary material change is the appointment of Michael Moore as Executive Vice President, Chief Operating Officer, effective September 30, 2025. Mr. Moore previously served as Executive Vice President, Operations – North America since June 2025 and joined Hertz in July 2024.
Management Commentary and Compensation Details
Management highlighted Mr. Moore's over 25 years of experience in fleet operations and maintenance, including prior leadership roles at Delta Air Lines, Northwest Airlines, and Virgin Galactic. His new compensation package includes:
- Base Salary: $650,000 annually.
- Short-Term Incentive: Eligibility for the Executive Incentive Compensation Plan (EICP) with a target award of 80% of base salary (prorated for 2025).
- Long-Term Incentive: Target equity award of $1,500,000.
- One-Time Grant: $1,000,000 in time-vesting restricted stock units (vesting one-third annually).
- Benefits: Continued eligibility for a company service vehicle and other executive benefit programs.
The filing states there are no family relationships between Mr. Moore and any director or executive officer, and no other reportable transactions exist.
Investor Verification Checklist
- Verify the effective date of the new COO appointment (September 30, 2025).
- Confirm the total value of the one-time restricted stock unit grant ($1,000,000) and its vesting schedule.
- Review the specific terms of the 2025 prorated EICP award calculation.
- Check for any subsequent filings regarding changes to the executive compensation plan or additional equity grants.