SEC Filing Summary: Science Applications International Corp (SAIC)
Business Context and Reporting Period
This Form 8-K Current Report was filed by Science Applications International Corporation on December 11, 2023. The filing discloses an internal reorganization resulting in the departure of two senior executives effective February 2, 2024.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance and personnel changes rather than financial performance.
Material Changes
- Executive Departures: Michael W. LaRouche (President, National Security and Space Sector) and Robert S. Genter (President, Defense and Civilian Sector) will depart the Company.
- Effective Date: The departures are scheduled for February 2, 2024.
- Compensation: Both executives will receive severance compensation pursuant to Section 5 of the Company's Executive Severance, Change in Control and Retirement Policy.
Outlook, Risks, and Management Commentary
The Company issued a press release on December 11, 2023, detailing these events. The filing notes that the information is furnished under Regulation FD and is not deemed "filed" for purposes of Section 18 of the Exchange Act. No specific financial guidance, risk factors, or unusual items were disclosed in this document.
Investor Verification Checklist
- Verify the specific terms and total value of the severance packages for Mr. LaRouche and Mr. Genter in the referenced Executive Severance Policy.
- Confirm the interim leadership appointments or succession plans for the National Security and Space Sector and the Defense and Civilian Sector.
- Review the full text of the press release (Exhibit 99.1) for additional context on the internal reorganization.