ServiceNow amends William R.
Filed with the SEC on · Summarized by InvestorsBot
ServiceNow amends William R. McDermott employment agreement effective Jan 1, 2026: he’ll remain through at least Dec 31, 2030 and may serve as CEO, co‑CEO, Executive Chair or Non‑Executive Chair at the Board’s discretion. Compensation tied to role/performance. $NOW 🏢 #ServiceNow #CorporateGovernance
Severance policy updated effective Jan 1, 2026: Qualifying Termination within 3 months before or 12 months after a Change in Control → lump sum = 2×(base salary + Target Bonus); 24 months COBRA paid; 100% immediate vesting of RSUs & PRSUs (actual performance). $NOW 💼 #M&A #Compensation
If Qualifying Termination NOT tied to a Change in Control → 1× base salary lump sum; Actual Bonus payable; 12 months COBRA; immediate vesting of RSUs equal to what would vest over 18 months; PRSUs: pro‑rata vesting plus 18‑month vesting based on actual performance. $NOW ⚖️ #ExecPay #Governance
Retirement/death/disability rules: post‑65 retirement (no new full‑time role) → pro‑rata time‑based RSUs (granted ≥1 yr prior) and PRSUs (granted ≥1 yr prior) vest per terms/actual performance; death → 100% RSUs & PRSUs vest at target; disability → continued vesting based on actual performance. $NOW 🛡️ #CompPlan #ServiceNow