Business Context and Reporting Period
This Form 8-K filing by InterDigital, Inc. covers the date of March 9, 2018. The report addresses Item 5.02 regarding the departure of certain officers and the appointment of compensatory arrangements for named executive officers.
Key Financial Metrics
The filing does not provide data on revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on executive compensation determinations.
Material Changes and Executive Compensation
On March 9, 2018, the Compensation Committee determined the 2018 annual base salaries and target short-term incentive plan (STIP) levels for three named executive officers. Additionally, two senior executives announced their intention to retire effective April 1, 2018, and were excluded from 2018 compensation determinations.
| Named Executive Officer | 2018 Base Salary | Target 2018 STIP Level |
|---|---|---|
| William J. Merritt (President and CEO) | $620,000 | 100% of base salary |
| Richard J. Brezski (CFO and Treasurer) | $396,550 | 75% of base salary |
| James J. Nolan (EVP, Products) | $396,550 | 75% of base salary |
Retirements: Scott A. McQuilkin (Senior EVP, Innovation) and Lawrence F. Shay (Senior EVP, Future Wireless, and Chief Intellectual Property Counsel) will retire on April 1, 2018.
Guidance, Outlook, and Risks
The filing text does not provide financial guidance, outlook, management commentary on business performance, or specific risk factors beyond the disclosed executive departures.
Key Facts for Investor Verification
- Confirm the effective date of retirement for Scott A. McQuilkin and Lawrence F. Shay (April 1, 2018).
- Verify the 2018 base salary and STIP targets for William J. Merritt, Richard J. Brezski, and James J. Nolan as listed above.
- Note that no 2018 compensation determinations were made for the retiring executives.