Business Context and Reporting Period
This Form 8-K was filed by SAIC, Inc. and Science Applications International Corporation on June 21, 2013. The report addresses a specific corporate governance event regarding the appointment of a principal accounting officer.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is limited to personnel changes and does not contain financial performance data.
Material Changes
The primary material change reported is the appointment of Kenneth P. Sharp as Controller and Chief Accounting Officer, effective June 21, 2013. He succeeds John R. Hartley, who has transitioned to the role of Chief Financial Officer for the Technical Services and Information Technology segment.
Management Commentary and Risks
Management notes that Mr. Sharp joined the company in March 2013 as Senior Vice President of Finance. His background includes 11 years at Computer Sciences Corporation and eight years at Ernst & Young LLP. The filing states that no adjustment was made to Mr. Sharp's compensation arrangements in connection with his new designation; he will continue to receive compensation consistent with his seniority, including base salary, bonus, and equity awards. No specific risks or contingencies are detailed in this filing.
Investor Verification Checklist
- Verify the effective date of Kenneth P. Sharp's appointment as Controller (June 21, 2013).
- Confirm the new role of John R. Hartley as CFO for the Technical Services and Information Technology segment.
- Review Mr. Sharp's professional background, including his tenure at Computer Sciences Corporation and Ernst & Young LLP.
- Confirm that no changes were made to Mr. Sharp's compensation package upon his promotion.