Business Context and Reporting Period
This Form 8-K Current Report was filed by Science Applications International Corporation (SAIC) on November 5, 2020. The filing discloses the appointment of a new Chief Financial Officer and related compensatory arrangements.
Key Financial Metrics
This filing does not contain operational financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on executive compensation details.
- Annual Base Salary: $600,000
- Sign-on Bonus: $500,000
- One-time Equity Award: $500,000 (Restricted Stock Units)
- Short-term Incentive Target: 100% of base salary ($600,000) for the fiscal year ending January 2022
- Long-term Incentive Awards: $1,250,000 (Restricted Stock Units, stock options, and performance share units) to be granted in April 2021
Material Changes
The primary material change disclosed is the appointment of Prabu Natarajan as Executive Vice President and Chief Financial Officer, effective January 4, 2021. Mr. Natarajan joins SAIC from Northrop Grumman Corporation, where he held various financial and management roles since August 2011.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary regarding business performance. It includes standard disclosures stating there are no family relationships requiring disclosure under Item 401(d) of Regulation S-K and no reportable transactions between Mr. Natarajan and the Company under Item 404(a) of Regulation S-K.
Investor Verification Checklist
- Verify the effective start date of the new CFO (January 4, 2021).
- Confirm the vesting schedules and terms for the $500,000 one-time equity award and the $1,250,000 long-term incentive package.
- Review the press release (Exhibit 99.1) for additional context on the leadership transition.
- Note that this filing does not provide updated financial performance data; refer to the most recent 10-Q or 10-K for operational metrics.