Aptiv PLC Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Aptiv PLC on December 15, 2022. The filing reports a significant executive appointment within the company's leadership structure.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity metrics. This report focuses exclusively on personnel changes and compensation arrangements.
Material Changes
On December 15, 2022, William T. Presley was appointed as Senior Vice President and Chief Operating Officer (COO), effective immediately. He will continue to serve in his current role as President of Signal and Power Solutions (S&PS).
Management Commentary and Compensation
The Compensation and Human Resources Committee approved the following compensation arrangements for Mr. Presley in his new role:
- Annual Base Salary: $900,000
- Annual Bonus Target: 100% of base salary
- Long-Term Incentive Award: Target value of $3.5 million in restricted stock units (40% time-based vesting, 60% performance-based vesting)
Mr. Presley's existing post-service covenants, including non-compete and non-solicitation provisions, remain in effect. The filing notes he has no direct or indirect material interest in any transaction requiring disclosure under Item 404(a) of Regulation S-K.
Investor Verification Checklist
- Confirm the effective date of the COO appointment (December 15, 2022).
- Verify the total target compensation package value ($900,000 base + $900,000 bonus target + $3.5M LTIP).
- Review the vesting schedule details for the $3.5 million restricted stock unit award.
- Check for any subsequent filings regarding changes to the executive team or compensation structure.